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ISLAMIC ANSWERS, CUSTOM FIT


 

ABOUT US

ORIX Modaraba (ORIXM) (Formerly Standard Chartered Modaraba) Established in 1987, floated under the Modaraba Ordinance of 1980, ORIXM is one of the largest modarabas in Pakistan. It is listed on the Pakistan Stock Exchange and has a history of offering highest dividends on its certificates. ORIX Leasing Pakistan Limited (OLP) and ORIX Services Pakistan (Private) Limited (Formerly Standard Chartered Services of Pakistan (Private) Limited) each own ten percent shareholding in ORIXM and hence are the associated companies of ORIXM. The website address of OLP is http://www.orixpakistan.com ORIXM is a member of NBFI & Modaraba association of Pakistan (For Membership details, please refer http://www.nbfi-modaraba.com.pk/members-directory.aspx)

 

ORIXM offers both Consumer and Wholesale Shariah compliant financing products. These include; Ijara/ Leasing, Diminishing Musharakah, Murabaha and Certificates of Musharakah. ORIXM's management company (mudarib), ORIX Services Pakistan (Pvt.) Ltd. (Formerly Standard Chartered Services of Pakistan (Pvt.) Ltd.), is wholly owned by OLP, which has over 30 years of Leasing experience.

 

The registration number of the management company of ORIXM is 00000859.

The National Tax Number of ORIXM is 0801136-2.

The Sale Tax Registration Number of ORIXM is 1700080113614.

The SINDH Sales Tax Registration Number of ORIXM is S0801136-2.

The PUNJAB Sales Tax Registration Number of ORIXM is P0801136-2.

The symbol assigned by Pakistan Stock Exchange to ORIX Modaraba (Formerly Standard Chartered Modaraba) is ORIXM.

Acquisition by ORIX Group

On September 01, 2015, ORIX Leasing Pakistan Limited signed a Share and Certificate Purchase Agreement (SPA) with Standard Chartered Bank (Pakistan) Limited (SCBPL), for the acquisition of SCBPL’s 20% stake in the Modaraba [10% directly and 10% through ORIX Services Pakistan (Private) Limited (formerly Standard Chartered Services of Pakistan (Private) Limited)], and 100% stake in the management company of the Modaraba. Securities and Exchange Commission of Pakistan ("SECP"), on March 28, 2016, gave approval for this transaction. Subsequently ORIX Leasing Pakistan Limited acquired the 100% ownership of ORIX Services Pakistan (Private) Limited and 10% ownership of ORIX Modaraba (Formerly Standard Chartered Modaraba) on June 20, 2016 and June 21, 2016 respectively.

ORIX GROUP

ORIX Corporation was established on April 17, 1964 in Osaka, Japan as Orient Leasing Co., Ltd. The company's name was changed to ORIX orporation in 1989. ORIX began operations with a 13-member staff, including current Senior Chairman Yoshihiko Miyauchi, who at the time had just recently learned the leasing business through a cooperative arrangement with U.S. Leasing International Inc. in the United States. ORIX's initial expansion occurred during the period of sustained economic growth in Japan during the 1960s and lasted through to the early 1970s. In April 1970, six years after ORIX was founded, its shares were listed on the second section of the Osaka Securities Exchange, which at the time was the fastest listing of any company in Japan. In February 1973, ORIX shares were listed on the first sections of the Tokyo and Nagoya Stock Exchanges and the Osaka Securities Exchange. ORIX group is now present in 37 countries and region worldwide with 793 companies (132 Affiliates). The group has over 30,000 staff all over the globe.

For ORIX Corporation History, please visit http://www.orix.co.jp/grp/en/company/history/ and for ORIX GROUP Dynamics, please visit http://www.orix.co.jp/grp/en/pdf/company/groupdynamicsE.pdf.

ORIX Leasing Pakistan Limited

ORIX Leasing Pakistan Limited (“OLP”) was established in July 1986 as a joint venture between ORIX Corporation, Japan and local investor. The Company is listed on the Pakistan Stock Exchange. OLP offers value-added financial products and innovative customized services to a wide array of customers throughout the Country. The blend of international experience and local expertise acquired over the last 30 years provides OLP a distinctive competitive edge. OLP has played a major role towards the economic development of the Country by supporting the Small and Medium Enterprises (SME) Sector and in doing so, has created thousands of jobs both directly and indirectly. It has helped grow numerous small businesses into medium sized enterprises. Today, OLP is the largest SME focused Non-Banking Finance Companies in Pakistan. OLP has strategic investments in four associated overseas joint venture leasing companies. In addition to management support and technical assistance, OLP also provides key executive staff for its overseas associates.

The Modaraba Concept

The laws governing modarabas were introduced in Pakistan in 1980 as one of the first steps taken by the Government towards establishing a financial system in coherence with the injunctions of Islam. The formation of a Modaraba is done under an arrangement made between two parties: one provides the capital (rabb-ul-maal), and the other party, called the mudarib, contributes through its skills. A Modaraba can undertake virtually any business activity that is not repugnant to Shariah, the Islamic Law. Moreover, a Modaraba may be either a multipurpose or a specific purpose Modaraba, and can be formed for either a fixed or an indefinite period. Capital is raised from the public in the form of Modaraba Certificates, which are similar to shares of companies.

Board of Directors

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Registrars & Share Registration Office

Famco Associates (Private) Limited 8-F, Block-6, P.E.C.H.S Shahrah-e-Faisal, Karachi Phone: (021) 34380101-5

Auditors

KPMG Taseer Hadi & Co. Chartered Accountants

Shariah Advisor

Mufti Faisal Ahmed

Legal Advisors

Fazle Ghani Advocates
 

Other Legal Counsel

Izhar Law Associates
Sirajul Haque & Co.
Orr Dignam & Co
Mohsin Tayabali & Co

Bankers/ Financial Institutions

Bank Alfalah Limited (Islamic Banking)
Allied Bank Limited (Islamic Banking)
Standard Chartered Bank (Pakistan) Limited (Saadiq)
Meezan Bank Limited
United Bank Limited (UBL Ameen)

Our Code of Conduct

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