First Paramount Modaraba (FPM),is a Non-Banking Islamic Financial Institute managed by Paramount Investments Limited (PIL).PIL It was incorporated in the Province of Sindh under the Companies Ordinance, 1984 on 15th February 1992. It was registered as a Modaraba Management Company with the Registrar of Modaraba companies and Modarabas Islamabad on 15th October, 1992. It is listed on the Karachi Stock Exchange. FPM is a member of NBFI & Modaraba Association of Pakistan.
The Authorized capital of Paramount Investments Limited is Rs.50,000,000/- divided into 5,000,000/- certificates of Rs.10/- each with a paid up capital of Rs.22,319,000/-.
The Principal objectives of Paramount Modaraba are as follows:-
- To engage in MODARABA and all other forms of Islamic ways of financing.
- To initiate sponsor, promote, float, organize, manage, administer and operate Modaraba Companies, Modaraba fund and Modarabas of all types and description, Mutual Funds, unit trusts and other similar concerns either in syndicates or otherwise.
- To invest or participate in and to collaborate or co-operate with any Modaraba company M o d a r a b a funds, Modarabas, Mutual Funds, Unit trusts and other similar concerns either in syndicates or otherwise.
- To arrange, procure and raise finance through Modaraba Companies, Modaraba funds, Modaraba, of all types descriptions and durations, mutual funds units’ trusts and other similar modes.
- To establish, manage take-over operate all sorts of commercial industrial, trading and business activities.