The Pakistan Credit Rating Agency (PACRA) has assigned a long-term entity rating of “A-” (single A minus) and a short-term entity rating of  “A2” (A two), to Modaraba Al-Mali. These ratings denote a low expectation of credit risk emanating from strong capacity for timely payment of financial commitments.

About the Modaraba: Established in 1987, MAM is a perpetual multi-purpose Modaraba, listed on all bourses of Pakistan. JS Finance Limited, with 11% equity stake, manages the Modaraba. During 2004, the management company was acquired by JS Group in collaboration with the DCD Group. JS Group holds 75% of controlling shares while the other 25% is held by the DCD Group. JS Finance Limited is planning to float specific purpose modarabas in order to carry property business, which will strengthen the earning base of the management company. Meanwhile, the management company is in the process of merging Modaraba Al Tijarah – another Modaraba under management – into MAM.  The Modaraba is primarily engaged in the business of operating lease and morabaha financing and operates from a single location in Karachi. It plans to continue with leveraged volume expansion while focusing on operating lease in the telecom sector and Morabah Share Financing (MSF). The future growth will be facilitated through mobilizing funds through a combination of certificates of musharika and shariah compliant credit lines.