KASB Modaraba, an Islamic financial institution, provides financial facilities on Islamic principles of Shariah in Pakistan. It offers financing under Musharaka arrangement by entering into trading partnerships with business firms dealing primarily in commodities; and Murabaha financing for short tenures to corporate customers. The company also provides Ijarah, an Islamic alternative of leasing, which refers to the transfer of benefits and use of an asset by the owner to the lessee at an agreed rent for an agreed period of time; and Diminishing Musharaka that offers a mode through, which it keeps on reducing its equity in the project and transferring ownership of the asset to the participants. In addition, it provides various deposit schemes; and Modaraba financing, as well as invests in equities, sukuk bonds, and Modaraba term deposits. The company was formerly known as First Mehran Modaraba and changed its name to KASB Modaraba in January 2008. The company is headquartered in Karachi, Pakistan.