The NBFI and Modaraba Association of Pakistan’s Year Book 2023 was launched by Mujtaba Ahmad Lodhi, the Commissioner of SECP’s Specialized Companies Division. This comprehensive publication provides essential information about the NBFI and Modaraba sectors. According to the Year Book, there have been notable improvements in the NBFIs and Modaraba sector. The assets have increased to Rs 158,404 million in FY 2023, compared to Rs 142,918 million in FY 2022. However, the total equity of the sector has decreased to Rs 51,518 million due to business model transformation. Despite this, the overall profitability has reached Rs 3,431 million, showing an increase of Rs 986 million. Lodhi emphasized the importance of NBFI and Modarabas in enhancing their role in Pakistan’s financial sector. He highlighted the need for technological advancement, innovation, product diversification, capacity building, and high governance standards to achieve this goal.
