First Habib Modaraba is a Pakistan-based non-bank Islamic financial institution. The Company is engaged in the business of leasing, Musharaka, Murabaha financing and other related business. Its products include financial services and deposit schemes. Its financial services include Diminishing Musharaka, Istisna, Murabaha, Residual Value (RV) Car Financing, Salam, SIRAT Auto Financing, and Solar Power Equipment. Diminishing Musharaka is a Musharaka with an additional feature of decreasing ownership of one party. The Residual Value (RV) Financing Model is a car financing solution available to individual and corporate customers. In the RV car financing, the monthly rentals are significantly lower than the regular financing model. Murabaha is a non-participatory mode of Islamic financing where the Company sells the asset required by its client to the client on a cost-plus profit basis. Istisna'a is a sales contract between the Company as the seller and the customer as the purchaser.
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