First Al-Noor Modaraba (FAM) is primarily engaged in providing various Islamic financial services, such as Ijarah financing, musharikah, diminishing musharkah, murabaha, musawamah, equity investment and other shariah compliant trading activities. It operates through four segments: Trading, Financing, Investments and Ijarah. Trading segment is engaged in importing and distribution of rice. Financing segment comprises Musharakah, Diminishing Musharakah, Musawamah. Investments segment focuses in realized and unrealized gain on investments and dividend income. Ijarah segment is engaged in Ijarah financing. The ijarah product is a contract where the financier buys and leases equipment or other assets to the business owner for a fee or more often called rental income. The murabaha product is a non-participatory mode of Islamic financing. The musharakah is a contractual relationship formed through mutual consent of the parties for sharing of profits and losses in a joint venture.
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