South Asian Federation of Accountant (SAFA) is an apex Body of the South Asian Association for Regional Co-operation (SAARC) and a Regional Grouping of the International Federation of Accountants (IFAC). SAFA consists of the institutes of chartered accountants and the institutes of cost & management accountants in the SAARC countries who have associated together with the objective of developing the accountancy profession in the region.

Every year, SAFA gives   awards to different categories to corporate entities  on the basis of evaluation of the published annual reports of companies within the SAARC countries. The  aim of this award is  to improve and promote transparency, accountability and governance in financial reporting.

Judging for the SAFA BPA awards involves the scrutiny of annual reports nominated by the accounting bodies of respective countries which are appraise under different categories on the basis of evaluation administered by SAFA's committee.  

The SAFA  Award is considered as the most prestigious accolade for financial reporting in the South Asian region and signifies SAFA's recognition and reward for organizations  which have achieved excellence in presentation and disclosure of high quality, relevant, reliable and objective financial statements in accordance to the framework stipulated by the International Accounting Standards.

Alhamdullilah, First Habib Modaraba (FHM) is receiving SAFA ten awards from overall category of Financial Services Sector within the countries at SAARC level and within Non-Banking Financial Sector of Pakistan i.e. Leasing, Investment Banks and Modarabas, By the grace of God, again FHM the only Modaraba within Modaraba and NBFI sector securing this award continuously for  last several years.