Section 10: Business of modaraba. No modaraba shall be a business which is opposed to the — Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980

Current legal status not independently verified — Source: Pakistan Code (single official PDF, 2026-08-21). Whether this provision is still in force has not been independently verified.

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10. Business of modaraba. No modaraba shall be a business which is opposed to the Injunctions of Islam and the Registrar shall not permit the floatation of a modaraba unless the Religious Board has certified in writing that the modaraba is not a business opposed to the Injunctions of Islam.

Effective date: 1980-01-01

Related sections

Section 9: Religious Board. The Federal Government shall, for the purposes of the Ordinance,Section 11: Authorization. __The Registrar may, after obtaining from the Religious Board a certificate Section 8: Creation and maintenance of modaraba Section 12: Modaraba to be a legal person. __ (1) A Modaraba shall sue and be sued in its own name Section 7: Types of modaraba Section 13: Conditions applicable to modaraba

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