KARACHI, Sept 21: Modaraba Association of Pakistan (MAP) has elected Mr Ayaz Dawood of Guardian Modaraba its chairman and Mr Azam A. Sakrani of First Al-Noor Modaraba its vice chairman for the year 2005-06, says a press release.

At the annual general meeting of MAP held here the other day, the following members of the executive committee were also elected: Mr Shariq Saleem of Standard Chartered Modaraba; Mr Majid A. Jhumra of LTV Capital Modaraba; Mr M. Siddique Memon of Fayzan Manufacturing Modaraba; Mr Muhammad Sajid of Modaraba Al-Mali; Mrs Hamida Aqeel of Al-Zamin Leasing Modaraba and Mr Muhammad Salman of First Punjab Modaraba.

Mr. Zubair R. Palwala, the outgoing chairman of MAP, highlighted the activities of the modaraba sector during his tenure.