First meeting of the Sub-Committee of National Assembly Standing Committee on Finance & Revenue was held at SECP Head Office

Subcommittee of the NA Standing Committee on Finance & Revenue met at the SECP head office under the chairmanship of Ch. M. Barjees Tahir. The SECP team made a presentation on the salient features of Modaraba Companies & Modarabas (Floatation & Control) (Amendments) Bill, 2020. Sub Committee, which includes honorable MNAs Mr. Salahuddin Ayubi, Engr. Sabir Hussain Kaim Khani, and Ms. Wajiha Qamar, made comments during comprehensive review of the draft bill. Subcommittee agreed to endorse its reviewed draft to NA Standing Committee on Finance & Revenue. The proposed Modaraba Companies and Modaraba (Floatation and Control) Ordinance, (Amendment) Bill, 2020 seeks to mitigate the reputational and operational risks and enhance the image and operational framework of modarabas as a pure Islamic financial institution of the country.