Scribd
Upload
37 views

Micro Finance Bank

Uploaded by

Eman Sethi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
37 views

Micro Finance Bank

Uploaded by

Eman Sethi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 3

MOA

Micro Finance Bank

THE COMPANIES ACT, 2017 (XIX of 2017)

(COMPANY LIMITED BY SHARES)

MEMORANDUM OF ASSOCIATION

1. The name of the company is ____________

2. The registered office of the Company will be situated in

3. (i) The principal line of business of company shall carry on the functions of and operate as a
‘microfinance bank’ under Microfinance Institutions Ordinance, 2001 or any successive
legislations and / or re-enactment thereof for the provision of ‘microfinance services’
and engage in and perform all such activities, deeds, matters and things as are directly or
indirectly prerequisite, related or consequential thereto and in respect thereof, subject
to the license issued by the State Bank of Pakistan (SBP) under the Ordinance and/ or
directives issued by the SBP.

(ii) Except for the businesses mentioned in sub-clause (iii) hereunder, the company may
engage in all the lawful businesses and shall be authorized to take all necessary steps
and actions in connection therewith and ancillary thereto.

(iii) Notwithstanding anything contained in the foregoing sub-clauses of this clause nothing
contained herein shall be construed as empowering the Company to undertake or
indulge, directly or indirectly in the business of Non-banking Finance Company (Asset
Management Services, Leasing, Investment Finance Services, Investment Advisory
Services, REIT management Services, Housing Finance Services, Private Equity and
Venture Capital Fund Management Services, Discounting Services, Pension Fund Scheme
Business), Corporate Restructuring Company, Insurance Business, Modaraba
management company, Stock Brokerage business, forex, Clearing House, Securities and
Futures Advisor, Commodity Exchange, managing agency, business of providing the
services of security guards or any other business subject to license and restricted under
any law for the time being in force or as may be specified by the Commission.
(iv) It is hereby undertaken that the company shall not:

(a) engage in any of the business mentioned in sub-clause (iii) above or any unlawful
operation;

(b) launch multi-level marketing (MLM), Pyramid and Ponzi Schemes, or other
related activities/businesses or any lottery business;

(c) engage in any of the permissible business unless the requisite approval,
permission, consent or license is obtained from competent authority as may be
required under any law for the time being in force.

4. The Liability of the Members is Limited.

5. The Authorized Capital of the Company is Rs. 100,000/- (Rupees One Hundred Thousand only)
divided into 1,000 (One Thousand) Ordinary shares of Rs. 100/- (Rupees One Hundred only) each.

Page 2 of 3
subscribed below, desirous of being formed into a company, in
pursuance of this memorandum of association, to take the number of shares in the
capital of the company as set opposite our respective name(s):

Name and NIC No. (in Father's/ Nationality Usual Number of


surname case of Husband's (ies) with residential shares taken
(present & foreigner, Name in any former address in full by each
former) in Passport No) full Nationality or the subscriber (in

Occupation

Signatures
full (in Block registered / figures and
Letters) principal office words)
address for a
subscriber
other than
natural person

Total number of shares taken (in figures and


words)

Dated the day of, Enter a Date

Witness to above signatures: (For the documents submitted in physical form only, Remove in case of
Online application submission)

Signature
Full Name (in Block Letters)
Father’s/ Husband’s name
Nationality
Occupation
NIC No.
Usual residential address

Page 3 of 3

You might also like