Popular Islamic Modaraba is a Pakistan-based financial institution. It is a multipurpose, perpetual and multi-dimensional Modaraba. It offers various Islamic modes of financing and business, including Ijarah, Musharakah, Murabaha and Diminishing Musharaka arrangements, further, trading in listed securities and commodities. Its segments include Musharaka, Ijarah, Morabah, Modaraba and Others. Its financial products and services include Ijarah, Diminishing Musharaka, Murahabah, Salam and Istisna. Its Al-ljarah is a contract, which is transferred by the owner to the lessee at an agreed price/rental amount for an agreed Ijarah period. Murabaha is a non-participatory mode of Islamic financing where the FIM sells the asset required by its client. Istisna'a is a sale contract between the FIM as Al-Sani and the customer as Al-Mustasni. A Salam is a deferred delivery sale contract used for commodity finance. It is managed by the Popular Islamic Modaraba Management Company (Private) Limited.