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tc r

i  c l u   i  L o c  l bo  i s . F u  c t io s   p o w r s o f t h s

Locl Boi s r m 

go r  by th

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r l   t L o c  l A c t s    R u l s / B y l  w s

w it h s u c h A c t . T h s

Custo m r s b cus

t h y h

Locl Boi s r

s u b s t  t i  l  m o u  t o f f u   s  t

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w it h t h

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c o  u c t 

s t  t u t o r y r u l s   r g u l  t io  s .

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p o s it io  i  r s p c t o f S C R A  c c o u  t s

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29

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A  y U t i l it y B i l l ( fo r A  r s s Î r i f i c  t io ) .

c

%  c    +   +c     *  ; c 1. Copy o f CNIC. 2. Proo f o f pro pr i t o rship (NT N C rt ific t ). 3. Acco u t Op  ig R  u st & Pro pr i t o rship l t t r o  Fir ms H . 4 . A  y U t i l it y B i l l ( fo r A  r s s Î r i f i c  t io ) .

&  c   c     * ; c 1. Co p y o f C NIC o f Gu r i . 2. Co p y o f B irt h C rt ific t . 3 . C N I C c o p y o f G u  r  i  . c

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6 . c C o p i s o f C N I C s o f  l l D i r c t o r s / S ig   t o r i s . 7 . c L  t s t c o p y o f c r t i f i  F o r m- 2 9 . c

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  c   G  D c   D 6 c  2 .    5  c 9ur bh is t h t yp o f short t rm ficig i which B is t h o w r o f pr o u ct   p ur c h s t ht fo r t h cu st o m r . L i o t h r b    s 9
  b   is o t p r o  i i g t h lo   t o t h cu st o m r , b u t i f t h y     y t yp o f pr o uct li 9 c h i r y t c fo r h is u s . B   hs o xp rt is , so bs m t h g t t o t ht p r so , h will bu y h i ms l f   t h  h    it o  r t o t h b   . T h  b    w i l l g i h i m o  co st p lu s p r o f it . I f  u r i g b u y i  g   y t yp o f s u    c c i t o ccu r s, t h w ho l lo ss w i l l b bo r  b y t h b   b c u s t h b    is ow r o f t ht mt r i l.

%  c   G  D c   D 6 c   . c  3  .  5  c Cr I r h is P ist s fir st ³I t r st Fr ´ cr ficig bs  o  I s l m ic f i   c i g mo  o f I r  h o r I s l m ic l  s i  g . T h is p r o  u ct is i  l fo r i t r st   r s i   i i u  ls , lo o  i g fo r  cr f i    c i g t h t proi s t h co  i c o f  w ll  sig  prouct whil o iig   it r st b s  t r  s  ct io . Cr I r h is simp ly  r t  l gr m t u r which t h cr will b g i  t o t h c u st o m r o  r t fo r  p r io  , g r  t t h t im o f th cot rct . 9
 B pur chs s t h cr  r t s it out t o t h cu st o m r fo r  p r io  o f 3 , 4 o r 5 y r s. Up o  co mp l t io  o f t h l  s p r io  h cu st o m r g t s o w  r s h ip o f t h cr g  i st h is i it i l s cu r it y  p o s it . Cr I rh is uiu  is ppro   by 9
 Bs S hr ih Bor Cr I  r  h,  s ig   u   r t h su p r  is io  o f 9
  B    s S h r i h S u p r  iso r y Bo r  , is u  i u t o cr l  s i g f c i l it i s p r o  i  b y ot h r bs. Right s & libilit i s of Ow r / s Us r A I s l m ic I r  h is    ss t - b  s  co t r  ct , i. . t h L sso r s ho u l h   o w  r s h ip o f t h  s s t  u r i g t h p r io  o f t h co t r ct . U  r I s l m ic S h r i h ,  l l o w  r s h ip r l t  r ig ht s    l i b i l it i s s ho u l li wit h th ow r whil  ll usg -r lt  r ight s  libilit i s s ho u l l i w it h t h u s r . A co   t io  l l  s co t r  ct  o s o t ist iguish b tw  t h tur of th s libilit i s  plc s  ll libilit i s o t h us r o f t h ss t , cot rict or y t o Islmic S hr ih. U r I rh, ll ow r ship-r lt  r iss li wit h t h B whil l l u s g r lt  r is  s l i w it h t h u s r , t hu s m  i g t h L s so r t h t r u ow r o f t h ss t  mig t h ico m g  r t  t hrough t h co t r ct p r mis s ib l ( H l l) fo r t h B 

c

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lc 
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 B Cr I rh is  cr r tl gr m t, u r which th B purchs s th cr  r ts it out to th custom r for  p rio of 3 to 5 y rs, gr  t th tim of th cotrct. Upo compl tio of th l s p rio th custom r g ts ow rship of th cr gist his iitil s curity  posit. lc 8
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35

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cost o f

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39

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c

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Esy Hom is Pists first totlly Shrih-complit Hom Fic fcility O tht is compr h si , fforbl ,  totlly hssl -fr . For t 9
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c c 
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Owig your ow hom is o of lif s most importt chi  m ts. It r pr s ts your s curity, stbility,  is  gr t bl ssig i its lf. It proi s tht ll-importt sf ty  comfort for you  your lo  o s. How  r, i toy's oft  upr ictbl  costly irom t, sig th r uir  mo y c t  lif tim i its lf. Risig prop rty pric s, tx s, ifltio, curr cy  lutio its ll   ry hr brgi. O th oth r h, owig your ow hom  pyig  sy istllm t, which t s you st p by st p towrs compl t ow rship, is so much b tt r th pyig r t which ultimt ly oly s to your xp s s. A  to tht is your  sir to sty wy from it r st bs  ficig  b totlly rib-fr , thus chi -ig tht compl t i r stisfctio  p c of mi. Why ot h th b st of both worls? Is't tht wht you r worig so hr for ywy? lc  
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His ul sl s turo r is Rs. 800 millio or mor H  s fu   o-fu  li s of o r Rs. 150 millio H hs  succ ssful busi ss tr r cor for  miimum p rio of 3 y rs, bc  by uit  ficils

Corport Big hs  lrg umb r of multitiol  locl cli ts r pr s tig rious s ctors of th coomy. Cli t r ltioships r hl  by  ict  R ltioship 9g rs  fully support  by Bs Brch stff to proi high ulity s ric t comp titi  mr t ri  pricig. 
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His ul sl s turo r is b tw  Rs. 300 millio to Rs. 800 millio H  s fu   o-fu  li s of up to Rs. 150 millio

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His ul sl s turo r is up to Rs. 300 millio H  s fu   o-fu  li s of up to Rs. 75 millio

9
 B xt s ficig to ct r to busi ss  s of ll th bo m tio  typ s of custom rs i th followig r s: /c 8 c
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c0*  c ccccccccccc-c  c c 
 c1*  /c Prt of th wi rg of Shrih complit solutios for our custom rs r 9urbh, Ti rh  Istis,  sig  to m t worig cpitl r uir m ts. For xmpl , if you   fic for purchsig rw mt rils for your iustry or r trig i goos th  you coul us 9urbh or Istis to m t your ficil  s.

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c Æ  c c 9   is  prticulr i of sl wh r th s ll r xpr ssly m tios th cost of th commoity purchs ,  s lls it to oth r p rso by ig som profit th r o. Thus, 9   is ot  lo gi  o it r st it is  sl of  commoity for csh/ f rr  pric . Th  !c9   iol s purchs of  commoity by  b o b hlf of  cli t  its r sl to th ltt r o cost-plus-profit bsis. U r this rrg m t, th b isclos s its cost  profit mrgi to th cli t. I oth r wors rth r th cig mo y to  borrow r, th b will buy th goos from  thir prty  s ll thos goos to th custom r t  gr  pric . O of th most commo mo s of fic mploy  by Islmic Bs, 9urbh is bs  o th xct r uir m ts of ch custom r. It c b  fi  s  sl s trsctio wh r 9
 B purchs s th commoity  s lls it ft r ig  gr  profit. Thus, it is ot  lo gi  o it r st - it is th sl of  commoity o   f rr  pric . H c 9urbh iol s th purchs of  commoity by 9
 B o b hlf of  custom r  th subs u t r sl to th custom r o cost-plus-profit bsis. Th cost  profit mrgi to th b is xpr ssly isclos  to th custom r. Simply put, rth r th cig mo y to th custom r, 9
 B buys th commoity from  thir prty  s lls it to th custom r t  gr  pric , which iclu s  l m t of profit.

So wht is th iff r c b tw  9urbh   Sl ? A simpl sl i Arbic is cll  9uswmh -  sl tht o s ot iol isclosig or r f rrig to th cost of goos sol. How  r, wh  th cost pric is isclos  to th cli t, it is cll  9urbh.

77

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c A simpl sl i Arbic is cll  9    -  sl without isclosig or r f rrig to th cost of goos sol. How  r wh  th cost pric is isclos  to th cli t, it is cll  9   . A simpl 9   is o wh r th r is csh pym t  9   9 
is o o  f rr  pym t bsis.


c.* cc*


Followig r th rul s go rig  9    trsctio: {c {c {c

{c {c {c {c

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Th sub ct of sl must xist t th tim of th sl . Thus ythig tht o s ot xist t th tim of sl cot b sol s this m s th cotrct oi. Th sub ct mtt r shoul b i th ow rship of th s ll r t th tim of sl . If th s ll r s lls som thig tht h hims lf hs ot cuir , th  th sl b com s oi. Th sub ct of sl must b i physicl or costructi poss ssio of th s ll r wh  it is sol to oth r p rso. Costructi poss ssio m s  situtio wh r th ow r hs ot t  physicl  li ry of th commoity y t it hs com ito his cotrol  ll rights  libiliti s of th commoity r pss  o to him icluig th ris of its  structio. Th sl must b istt  bsolut . Thus  sl ttribut  to  futur t or  sl cotig t o  futur  t is oi. Th sub ct mtt r shoul b  prop rty hig lu i th y s of Shri. Th sub ct of sl shoul ot b  thig us  for  u-Islmic purpos . Th sub ct of sl must b sp cificlly ow  i tifi  to th buy r. For Exmpl , µA ow r of  prtm t builig sys to µB tht h will s ll  prtm t to µB. Now th sl is oi b cus th prtm t to b sol is ot sp cificlly m tio  or poit  to th buy r. Th  li ry of th sol commoity to th buy r must b c rti  shoul ot  p  o  cotig cy or chc . Th c rtity of pric is   c ssry coitio for th liity of th sl . If th pric is uc rti, th sl is oi. Th sl must b ucoitiol. A coitiol sl is ili ul ss th coitio is r cogi
 s  prt of th trsctio ccorig to th usg of th tr .

 
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Istis is  sl trsctio wh r  commoity is trsct  b for it com s ito xist c . It is  or r to mufctur  sp cific commoity for th purchs r. Th mufctur r (our custom r) us s its ow mt ril to mufctur th r uir  goos. I Istis, pric is fix  with th cos t of ll prti s iol . Similrly ll oth r  c ssry sp cifictios of th fiish  prouct r gr  b for h.

78

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  Istis Fic is us  to ct r for th worig cpitl r uir m ts of  busi ss iol  i th mufcturig of goos. It is i lly suit  for xport rs  mufctur rs who h xport or rs i th shp of Sight/Usc L tt r of Cr it/ Sight Export Cotrct D/P/ Usc Export Cotrct D/A. 
! is  sl trsctio wh r  commoity is trsct  b for it com s ito xist c . It is  or r to  mufctur r to mufctur  sp cific commoity for th purchs r. Th mufctur r us s his ow mt ril to mufctur th r uir  goos. I 
! , pric m ust b fix  with cos t of ll prti s iol . All oth r  c ssry sp cifictios of th commoity must lso b fully s ttl . 
! my b us  to proi ficig for costructio of hous . If th cli t ows  l  s s ficig for th costructio of  hous , th fici r my u rt to costruct th hous o th bsis of  
. If th cli t o s ot ow th l  wts to purchs tht too, th fici r c proi him with  costruct  hous o  sp cifi  pi c of l. 
! my lso b us  for similr pro cts li istlltio of  ir coitio r plt i th cli ts fctory, builig  brig or  highwy. Th mo r BOT (buy, op rt  trsf r) gr m ts my b formli
 through  
! gr m t s w ll. So, if th go rm t wts to buil  highwy, it my t r ito  
! cotrct with th buil r. Th pric of 
! c b th right of th buil r to op rt th highwy  coll ct tolls for  sp cific p rio.

%/c: c 
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Two of th most commoly us  Islmic ficig solutios il  by busi ss s toy, Dimiishig 9ushrh  I rh r i l for xpsio of busi ss s, B9R r uir m ts or oth r m ium to log t rm ficig r uir m ts.

Æ   c*


Usig this ficig mo l, 9
 B  th custom r prticipt i th oit ow rship of  ss t. Th ss t is ii  ito  umb r of uits  th custom r p rioiclly purchs s th s uits from th b o r  sp cifi  p rio. O r tim , th custom r purchs s ll uits ow  by th b, mig him or h r th sol ow r of th ss t or th comm rcil t rpris . 79

c

Dimiishig 9ushrh is most commoly us  for th ficig of fix  ss ts, pro cts, hom s  utomobil s. Accorig to this coc pt,  fici r  his cli t prticipt ith r i th oit ow rship of  prop rty or  uipm t, or i  oit comm rcil t rpris . Th shr of th fici r is furth r ii  ito  umb r of uits  it is u rstoo tht th cli t will purchs th uits of th shr of th fici r o by o p rioiclly, thus icr sig his ow shr util ll th uits of th fici r r purchs  by th cli t so s to m him th sol ow r of th prop rty, or th comm rcil t rpris , s th cs my b .

 
 cc c
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cc c Th propos  rrg m t is compos  of th followig trsctios: 1.c 2.c 3.c 4.c 5.c

Cr tio of oit ow rship i th prop rty ( 
9
). Giig th shr of th fici r to th cli t o r t. Promis from th cli t to purchs th uits of shr of th fici r. Actul purchs of th uits t iff r t stg s. A ustm t of th r tl ccorig to th r miig shr of th fici r i th prop rty.

I th bo m tio  rrg m t, followig coitios must b t  cr of: Th gr m t of oit purchs , l sig  s llig iff r t uits of th shr of th fici r shoul ot b ti -up tog th r i o sigl cotrct. How  r, th oit purchs  th cotrct of l s my b oi  i o ocum t wh r by th fici r gr s to l s his shr , ft r oit purchs , to th cli t. At th sm tim th cli t my sig o -si  promis to purchs iff r t uits of th shr of th fici r p rioiclly  th fici r my u rt to r uc th r t o r miig uits ccorigly. {c At th tim of th purchs of ch uit, sl must b ff ct  by th xchg of off r  cc ptc t tht prticulr t . {c It will b pr f rbl tht th purchs of iff r t uits by th cli t is ff ct  o th bsis of th mr t lu of th ss t s pr l t o th t of purchs of tht uit, but it is lso p rmissibl tht  prticulr pric is gr  i th promis of purchs sig  by th cli t. {c

:

c I cotrst to imiishig mushrh, this mo of ficig is bs  o th proisio of th r uir  tgibl ss ts, such s prop rty, mchi ry, tc, o r tl for  gr  p rio of tim . Th coc pt is similr to ³l sig´, which is commo i co tiol big. How  r th r r som sp cific prohibitios which r  r co tiol l sig to b forbi  u r Shrih. I rh is commoly us  for log  m ium t rm fix  ss t ficig, pro ct ficig  for r til proucts such s hom s  utomobil s.

80

c

"I rh" is  t rm of Islmic fih. L xiclly, it m s 'to gi som thig o r t'. I th Islmic urispru c , th t rm 'I rh' is us  for two iff r t situtios. I th first plc , it m s 'to mploy th s ric s of  p rso o wg s gi  to him s  cosi rtio for his hir  s ric s." Th mploy r is cll  'must ir' whil th mploy is cll  ' ir', whil th wg s pi to th  ir r cll  th ir 'u rh'. Th s co typ of I rh r lt s to th usufructs of ss ts  prop rti s,  ot to th s ric s of hum b igs. 'I rh' i this s s m s ' to trsf r th usufruct of  prticulr prop rty to oth r p rso i xchg for  r t clim  from him.' I this cs , th t rm 'I rh' is logous to th Eglish t rm 'l sig'. H r th l ssor is cll  '9u ir', th l ss is cll  'must ir'  th r t pybl to th l ssor is cll  'u rh'. Th rul s of I rh r  ry much logous to th rul s of sl , b cus i both cs s som thig is trsf rr  to oth r p rso for  lubl cosi rtio. Th oly iff r c b tw  I rh  sl is tht i th ltt r cs th corpus of th prop rty is trsf rr  to th purchs r, whil i th cs of I rh, th corpus of th prop rty r mis i th ow rship of th trsf ror, but oly its usufruct i. . th right to us it, is trsf rr  to th l ss .

7
c
c
c)cc 
 cc c L s is ot origilly  mo of ficig. It is simply  trsctio m t to trsf r th usufruct of  prop rty from o p rso to oth r for  gr  p rio gist  gr  cosi rtio. How  r, c rti ficil istitutios h opt  l sig s  mo of ficig ist  of log t rm l ig o th bsis of it r st. This trsctio of l s my b us  for Islmic ficig, sub ct to c rti coitios. It is ot suffici t for this purpos to substitut th m of 'it r st' by th m of 'r t'  r plc th m of 'mortgg ' by th m of 'l s  ss t'. Th r must b  substtil iff r c b tw  l sig   it r st-b rig lo. Tht will b possibl oly by followig ll th Islmic rul s of l sig.


c.* cc:

1.c L sig is  cotrct wh r by th ow r of som thig trsf rs its usufruct to oth r p rso for  gr  p rio, t  gr  cosi rtio. 2.c Th sub ct of l s must h  lubl us (which is r cogi
 s 9l- 9utwwm i Shrih. Th r for , thigs hig o usufruct t ll or whos usufruct is ot p rmissibl ccorig to Shrih cot b l s . 3.c It is  c ssry for  li cotrct of l s tht th corpus of th l s  prop rty r mis i th ow rship of th s ll r,  oly its usufruct is trsf rr  to th l ss . Thus, ythig which cot b us  without cosumig cot b l s  out. Th r for , th l s cot b ff ct  i r sp ct of mo y, tbl s, fu l  mmuitio tc. 4.c As th corpus of th l s  prop rty r mis i th ow rship of th l ssor, ll th libiliti s m rgig from th ow rship shll b bor by th l ssor, but th libiliti s r f rbl to th us of th prop rty shll b bor by th l ss . 81

c

5.c Th p rio of l s must b  t rmi  i cl r t rms. 6.c Th l ss cot us th l s  ss t for y purpos oth r th th purpos sp cifi  i th l s gr m t. If o such purpos is sp cifi  i th gr m t, th l ss c us it for wht  r purpos it is us  i th orml cours . 7.c Th l ss is libl to comp st th l ssor for y mg to th l s  ss t cus  by y misus or  glig c o th prt of th l ss . 8.c Th l s  ss t shll r mi i th ris of th l ssor throughout th l s p rio i th s s tht y hrm or loss cus  by th fctors b yo th cotrol of th l ss shll b bor by th l ssor. 9.c A prop rty oitly ow  by two or mor p rsos c b l s  out,  th r tl shll b istribut  b tw  ll th oit ow rs ccorig to th proportio of th ir r sp cti shr s i th prop rty. 10.cA oit ow r of  prop rty c l s his proportiot shr to his co-shr r oly,  ot to y oth r p rso. 11.cIt is  c ssry for  li l s tht th l s  ss t is fully i tifi  by th prti s. 12.cTh r tl must b  t rmi  t th tim of cotrct for th whol p rio of l s . 13.cI th log t rm l s gr m ts, it is mostly ot i th b  fit of th l ssor to fix o mout of r t for th whol p rio of l s b cus th mr t coitios chg from tim to tim . For this purpos it is llow  to us b chmr rt to  t rmi th r tl mouts. How  r, r t for th moth will b fix  t th strt of th moth, y chg i b chmr rt urig th moth will ot cus r t for tht moth to chg . It is lso  c ssry to  fi  floor  c ilig. 14.cTh l ssor cot icr s th r t uilt rlly,  y gr m t to this ff ct is oi. 15.cTh r t or y prt th r of my b pybl i c b for th  li ry of th ss t to th l ss , but th mout so coll ct  by th l ssor shll r mi with him s 'o ccout' pym t  shll b  ust  towrs th r t ft r its b ig u . 16.cTh l s p rio shll comm c from th t o which th l s  ss t hs b   li r  to th l ss , o mtt r wh th r th l ss hs strt  usig it or ot. 17.cIf th l s  ss t hs totlly lost th fuctio for which it ws l s ,  o r pir is possibl , th l s shll t rmit o th y o which such loss hs b  cus . How  r, if th loss is cus  by th misus or by th  glig c of th l ss , h will b libl to comp st th l ssor for such  glig c .

!/c
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)c   c A compl t rg of proucts  s ric s for import rs  xport rs r ilbl . Bs  o rious mo s of Islmic Fic , th solutios h b   sig  to suit th  s of our custom rs. Som of th  y s ric s off r  iclu : {c

L tt rs of Gurt - followig typ s of gurt s coul b issu  Àc Bi Bo Àc P rformc Bo Àc Pym t Bo Àc R t tio Bo 82

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{c

Proucts for Export rs Àc Export bills for coll ctio Àc Export (Sight) bills purchs u r Slm Arrg m t Àc Export (Usc ) bills purchs u r 9urbh Arrg m t

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Proucts for Import rs Àc Sight L tt r of Cr it Àc Usc L tt r of Cr it

I stm t Big R li
ig th icr sigly i rs  s of our custom rs for isory  structur  fic trsctios,  sp cili
  prtm t focusig o I stm t Big is futioig t 9
 B. Th I stm t Big  prtm t proi s uiu structurig by usig compl x Shrih structur s for trsctios so s to m t custom r's comm rcil  s. 9
 B s torchb r r of Islmic Big hs b  mig sigifict cotributio i th I stm t Big iustry by plyig l ig rol s i busi ss trsctios. 6,c0 

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Syictios & Structur  Fic Pro ct Ficig Ficil Aisory S ric s

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 I stm t 9g m t Limit  (Al 9
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 B Limit , sp cili
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 I stm ts hs o of th log st  th most succ ssful trc r cor of mgig mutul fus i th prit s ctor, spig o r fourt  y rs. Al 9
 is pr s tly mgig ight fus   miistrti pl i. . Al 9
 9utul Fu Limit  (A99F) -  clos   uity fu 9
 Islmic Fu (9IF) -  op -  uity fu 9
 Blc  Fu (9BF) -  clos   blc  sch m 9
 Islmic Icom Fu (9IIF) - Pists first Shrih complit op   icom fu - 9
 Thffu
P sio Fu (9TPF) -  Îolutry P sio Sch m , 9
 Cpitl Prot ct  FuI (9CPF-I) - Pists first Shrih complit op   cpitl prot ct  fu, 9
 9h Khrch Accout (99KA) -  miistrti pl of 9IIF to proi mothly icom , 9
 Csh Fu (9CF) - Pists first Shrih complit op   mo y mr t fu  9
 So r ig Fu (9SF) - Pists first Shrih complit op   go rm t s curiti s fu. Th totl si
of th s ight fus u r mg m t s t 9rch 31, 2010 is o r PKR 18.2 billio s compr  to PKR 13.5 billio t th corr spoig t lst y r. Th icr sig si
of ss ts u r mg m t mif sts th bility of th prof ssiol fu mg m t t m to cosist tly out-p rform th p rs  cos u tly buil upo th i stor cofi c . Al 9
 is r  mog th b st p rformig ss t mg m t compi s i Pist. Th fu wis br  up of  t ss ts s t 9rch 31, 2010 is s follows:

84

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6.cc-   /c 
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9
 Csh Fu

4,633

9
 Islmic Fu

4,436

9
 Islmic Icom Fu

3,738

Al 9
 9utul Fu

1,521

9
 Blc  Fu

1,319

9
 Cpitl Prot ct  Fu-I

633

9
 So r ig Fu

536

9
 Thffu
P sio Fu

246

Al 9
 hs lso chi   9g m t ®ulity Rtig ³A92´, ssig  by JCR-ÎIS. A92 is curr tly th high st 9g m t ®ulity Rtig ssig  by JCR-ÎIS to y Ass t 9g m t Compy. This rtig  ot s high mg m t ulity rtig with  stbl outloo. Al 9
s fus crryig uity xposur s icluig 9
 Islmic Fu  Al 9
 9utul Fu h b f  mogst th top p rformig fus i th ir r sp cti ct gori s for th cl r y r 2009. Th Shrih Aisor of 9
 B Limit , lso b ig th Shrih Aisor of Al 9
, sup ris s th op rtios i or r to sur Shrih complic of th fus. I itio to th s ric ulity, Shrih complic  impr ssi p rformc i t rms of r turs to i stors, Al 9
 lso compli s with th globl b st prctic s i ss t mg m t  hs olutrily opt  ³Ass t 9g r Co of Prof ssiol Couct´ from CFA Istitut , USA. H c it hs th istictio of b ig th first ss t mg m t compy i Pist to comply with th globl b st prctic s i ss t mg m t. Uits of ll op   fus r ilbl t th offic s of Al 9
  ll brch s of 9
 B Limit  (9BL) cross Pist. For th co i c of i stors, Al 9
 hs plc   ict  i stm t offic rs t th s l ct  brch s of 9BL. Th s offic rs proi guic  ssist th i stors i m tig th ir i stm t ob cti s.

85

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86

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³Auth tic mr tig is ot th rt of s llig wht you m but owig wht to m . It is th rt of i tifyig custom r  s  cr tig solutios tht  li r stisfctio to th custom rs, profits to th prouc rs  b  fits to th st hol rs´.

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c  c
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c
c  c) * c cc c
 c c
 c 1. First xclusi Islmic b. 2. Th lrg st Islmic b i Pist with   twor of 201 brch s i 54 citi s cross Pist. 3. Strog growth of its Islmic big Strt gic busi ss uit. 4. Th m mb rs of Shrih sup risory bor of 9
 b r r ow  scholrs of it rtiol r put , s rig o th bor of my bs op rtig i iff r t coutri s. 5. Oli big fcility is ilbl i ll brch s of 9
 b. A AT9 cr fcility o lmost ll typ of ccouts. 6. Krchi August 20, 2008 9
 B th lrg st Islmic b hs b  cof rr  th b st Islmic b wr by Rwlpii chmb r of Comm rc  iustry. 7. D ict   prof ssiol stff 8. H lthy worig irom t 9. Strog shr holig 10. A short t rm rtig of A-1 by 3.3 0c.Æc.D4c¯DFc 87

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1.c High chrg s for iff r t ctiiti s such s oli big  rfts s compr  to oth r bs. 2.c Lc of promotio   rtisig of th ir proucts  s ric s. 3.c L gthy  xt si ocum ttio 4.c C trli
 proc ur s mig proc ss slow. 5.c W  mr tig strt gy, trg t mr t ot i tifi  6.c Ris  rs policy 7.c Tru Islmic proc ur s r ot b ig opt  to m it compl t Islmic big 8.c No cr it cr fcility. 9.c No- ggr ssi  ss

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88

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1.c Hous Ficig s ctor c b trg t  to mximi
th profit. 2.c Growig  m of Islmic ficil proucts  s ric s. 3.c Î turig ito Islmic groups outsi th coutry s opportuity to xp busi ss i UAE  Gulf stt s 4.c Et rig ito busi ss with oth r Islmic Ficil Istitutios. 5.c Icr sig Brch  twor withi th coutry. 6.c Proiig tru Shrih complit proucts to custom rs ot oly i wors but lso i prctic . 7.c Aoptig oth r Shrih complit mo s of ficig. 8.c Comig up with. Proucts for th S9E c c c c c c c

89

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1.c N w comp titors s ttig up th ir Islmic big brch s 2.c High it r st rt from SBP 3.c F rs o th cr ibility of Islmic big thicl complic  moitorig syst m. 4.c Disssocitio of 9ul Ti Usmi from th Shrih isory bor of 9
 B

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90

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H it b   co tiol b uipp  with  xt si  twor  compl t portfolio of proucts, w woul h propos . "Erly to b , rly to ris Wor li h ll &ADÎERT IS E" But this is ot th cs with 9
 B. Th  twor  th portfolio of th proucts off r  r limit . For this w woul propos ... ³Erly to b , rly to ris Wor li h ll &I9 PROÎIS E" . I this prticulr sc rio, th wor I9PROÎISE sts for I

Iotio

9

9r t p rc ptios

P

Pru c

R

Rtioli
tio

0

Ob cti s cl rly u rstoo

Î

Îisio

I

i tifyig & u rstig custom r  s

S

Stisfyig custom r  s

E

Euctig th custom rs

Oth r r comm tios tht w sugg st r 1.TÎ. A rtisig 2. Pr ss A rtisig 3. Spr ig wr  ss through Drs 4. Wll clocs for mosu s 5. Awr  ss through curriculum 6. Umr  H pcg s

91

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c c c

B ig  pr mi r Islmic b   iotor i mr t 9
 B sts toy t  ot worthy  criticl uctur s Th Pr mi r Islmic B i Pist  is truly l ig th wy forwr i stblishig  r l, stbl ,  ymic Islmic Big syst m i Pist. Th foutio of this b ig th guic of our highly ulifi   globlly r ow  Shrih Sup risory Bor h   by Justic (R t) 9uhmm Ti Usmi  icluig r ow  scholrs from th 9il Est, who s  whol brig tog th r  rich owl g bs of Islmic Fih ccumult  o r th pst1400 y rs. Furth rmor , with th bl support of th SBP's Islmic Big D prtm t, ll th proucts off r  by th b r  ry thoroughly scrutii
 by th s Shrih sp cilists i Islmic fic h c pprol of th s proucts is ot bs  o uulifi  iiiul opiio or i ws, but o  ry sou ss ssm t  urispru c . How  r still if w go ito grou r liti s th r r issu s which fll i cotrictio with Islmic urispru c , But i our opiio r olutio t s mpl tim to t ff ct  this ffort of 9
 b to proi  compl t rg of Islmic big proucts to Pisti citi
s  s r s tru ppr citio. W r lso looig forwr tht i  r futur th s issu s coul b r sol   w g t  big syst m i tru Islmic wy iolig ll Shrih complit prctic s. c c c c c c c c c c

92

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