THE COMPANIES ORDINANCE, 1984(COMPANY LIMITED BY SHARES)Memorandum of Association

I. The name of the Company is
II. The Registered Office of the Company will be situated in the
III. The objects for which the Company is established are all or any of the following:-
Page 2
7.
To acquire, hold, issue on commission, underwrite and deal in stock, funds, shares,
debentures, debenture stock, bonds, obligations, securities, participation term certificates,
term finance certificates, musharika certificates, modaraba certificates and such other
instruments as may be approved by the State Bank of Pakistan and investments of all
kinds;
8.
To purchase and sell bonds, scrips or other forms of securities, participation term
certificates, term finance certificates, musharika certificates, modaraba certificates and
such other instruments as may be approved by the State Bank of Pakistan;
9.
To negotiate loans and advances;
10.
To receive all kinds of bonds, scrips of valuables on deposit or for safe custody or otherwise;
11.
To provide safe deposit vaults;
12.
To collect and transmit money and securities;
13.
To provide finance as defined in the Financial Institutions (Recovery of Finances)
Ordinance, 2001;
14.
To act as agents for any Government or local authority or any other person or persons;
15.
To carry on agency business of any description including the clearing and forwarding of
goods, giving of receipts and discharges and otherwise acting as an attorney on behalf of
customers, but excluding the business of a managing agent or treasurer of a company;
16.
To contract for public and private loans and negotiate and issue the same;
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17.
To amalgamate or merge with any other company, body corporate or entity in accordance
with the law.
18.
To effect, insure, guarantee, underwrite, participate in managing and carrying out of any
issue, public or private, Government, municipal or other loans or of shares, stock,
debentures, debenture stock or other securities of any company, corporation or association
and the lending of money for the purpose of any such issue;
19.
To carrying on and transact every kind of guarantee and indemnity business;
20.
To purchase or acquire in the normal course of its banking business, any property,
including patents, designs, trade-marks and copyrights, with or without buy-back
arrangements by the seller, or for sale in the form of hire-purchase or on deferred payment
basis with markup or for leasing or licensing or for rent-sharing or for any other mode of
financing;
21.
To manage, sell and realize any property, which may come into the possession of the
company in satisfaction or part satisfaction of any of its claims;
22.
To acquire and hold and generally deal with any property or any right, title or interest in
any such property which may form security or part of the security for any loans or advances
or which may be connected with any such security;
23.
To undertake and execute trusts;
24.
To undertake the administration of estates as executor, trustee or otherwise;
25.
To establish and support or aid in the establishment and support of associations,institutions,
funds, trusts and conveniences calculated to benefit employees or ex-employees of the
company or the dependents or connections of such persons;
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26.
To grant pensions and allowances and make payments towards insurance of employees;
27.
To subscribe to or guarantee moneys for charitable or benevolent objects or for any
exhibition or for any public, general or useful object;
28.
To acquire, construct, maintain and alter any building or works necessary or convenient for
the purpose of the company;
29.
To sell, improve, manage, develop, exchange, lease, mortgage, dispose of or turn into
account or otherwise deal with all or any part of the property and rights of the company;
30.
To acquire and undertake the whole or any part of the business of any person or company,
when such business is of a nature enumerated or described in Section 7 of the Banking
Companies Ordinance, 1962;
31.
To form subsidiary company for one or more purposes permitted under Section 23 of the
Banking Companies Ordinance, 1962;
32.
To do all such other things as are incidental or conducive to the promotion or advancement
of the business of the company such as electronic banking, internet banking, issuance of
credit cards, charge cards, ATMs etc.;
33.
To carry on any other form of business which the Federal Government may, by notification
in the Official Gazette, specify as a form of business in which it is lawful for a banking
company to engage.
34.
To carry on the business of housing finance and asset securitization in accordance with
the relevant Rules & Regulations.
35.
To carry on the business of financial derivatives under the provisions of relevant Rules &
Regulations.
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It is hereby undertaken that the company shall follow and abide by all the conditions and restrictions
imposed by the State Bank of Pakistan vide license issued by it as well as the covering letter of the
license and any subsequent conditions or restrictions imposed by State Bank of Pakistan.
IV.
The liability of the members is limited.
V.
The authorized capital of the company is Rs.
(Rupees
divided into
ordinary shares of Rs.
increase, reduce, consolidate or otherwise the share capital and to divide the shares of the company into
different classes in accordance with the provisions of the Companies Ordinance, 1984.
each with power to