First IBL Modaraba signs SPA with ZTP Private Limited

First IBL Modaraba announced on Wednesday that it has signed a Sale & Purchase Agreement (SPA) with ZTP Private Limited, according to a notice submitted to the Pakistan Stock Exchange (PSX).

The company stated that ZTP Private Limited has applied to the Registrar Modaraba at the Securities and Exchange Commission of Pakistan (SECP) seeking the required regulatory approval for the transaction.

First IBL Modaraba operates as a multi-purpose, perpetual Modaraba under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980, and engages in Islamic financing arrangements including Ijarah, Musharaka, and Murabaha.