First Habib Modaraba
First Habib Modaraba (FHM) is a listed Non-Bank Islamic Financial Institution, established in 1985 and recognized as one of the pioneers of the Modaraba sector in Pakistan. With over four decades of successful operations, FHM has established a strong presence in Pakistan’s Modaraba sector and continues to contribute to the development of Shariah-compliant financial services.
Over the years, FHM has been consistently recognized for its strong financial performance, sound corporate governance, excellence in corporate reporting and stable credit profile. With a continued focus on operational excellence, FHM strives to enhance its processes, infrastructure and human capital through professional development and capacity building. These efforts are aimed at delivering quality and reliable services to customers while maintaining the highest standards of regulatory compliance and adherence to Shariah principles.
The Modaraba sector has played a significant role in promoting Islamic finance in Pakistan. Introduced in the early 1980s, Modaraba was among the country’s pioneering Shariah-compliant business models supported by a statutory and regulatory framework.
FHM’s resilient business model, prudent financial management and dedicated team have enabled it to build lasting relationships based on trust and confidence with thousands of stakeholders across the country. Despite the challenging economic environment in recent years, FHM maintained financial stability through prudent lending and risk management practices and delivered strong financial performance during 2025–26.
FHM has received numerous awards and accolades at national and international levels for performance, corporate reporting, disclosure and corporate excellence from reputable institutions, including the NBFI & Modaraba Association of Pakistan, ICAP, ICMAP, Management Association of Pakistan and SAFA. FHM was also honored with the Islamic Retail Banking Award (IRBA) by Cambridge IFA, UK, as the “Strongest Modaraba” within the Modaraba sector of Pakistan. FHM has also maintained an AA+ long-term credit rating from PACRA for the past 18 years, reflecting the institution’s sound financial standing and stability.
We remain committed to strong governance, prudent risk management and sustainable business practices while creating long-term value for our stakeholders and contributing to the growth of Islamic finance in Pakistan. We attribute our journey of continuous progress and success to the blessings of Allah (SWT), the trust of our stakeholders and the dedication and teamwork of our people.
Ownership and Operating Structure
First Habib Modaraba (FHM) is managed by Habib Metropolitan Modaraba Management Company (Private) Limited, a wholly owned subsidiary of Habib Metropolitan Bank Limited. Habib Metropolitan Bank Limited is a reputable institution within Pakistan’s banking sector, with total assets exceeding Rs. 1,600 billion and a network of more than 562 branches across the country as at December 31, 2025.
