www.ahnafmedia.

com

~g ~)

~#
}
i*

[Zt@
uZ ZZ e ?
g6eYY Zg Z
gHZzY Zg Z

] l^m r
1 !
W*
!
W*
3--1
74600e
7X c Z

www.ahnafmedia.com

3
7
14
24
28
30
45
49
54
67
75

{
]gzg (ZD6
~g Zh
y

z 1:[ !
nZ ZZg 6jg ZzZa- 2:[ !
{^
Y[ Z*
gzZ
nZ Z Zuz Zg 6jg ZzZa- 3:[ !
{^
Y[ Z*
gzZ
ig ZzZa- @'
w*
-i
s s Zzw
uLZq
@'
w*
-ii

6gzZ
[Z ]gzgzZ~jgZzZa- 4:[ !
Z/g pzg jg ZzZa- 5:[ !
.
X xg D ZdSg~
|v 6:[ !
! Zy
~g Z)fz 7:[ !
s Z)x ( gZs Z ) 8:[ !

www.ahnafmedia.com

{
!^n ]^u ] e
< sZ~ y 0
gzZ i*
]|
*
Z
X Z + Y ,ikZ Z ~g Y x i
M e e z a n [ ~ ~ m

Z s Z yZ/ ~} Z
kZ W~ g Zi !
Bank`s Guide To Islamic Banking
b yZ WgZ b &Z Z
ZzP ~ kZ6_ H_
0
: [ Z X 5~ #
}
s Z yZ/~k

B
a q
Z x *
g Z b & ZZ
ZzP~g sZ L Ly*kZ
V Zz xZg Z X
5xZg Z ^ {
X H
~ ]g
X z x ~Z sy Z :gzZ c
[ Z :
gzZsZ)yZgzZ 6
gzZ6~g Z)fzVw | le
xZgZ i*
8 kZ X H"
U
)
LZ 0 gzZ v< sZ~X ] Z|gzZ
~}py Z LZXa
~]g! }p
] !
Z
QX]ogzZ? ]!
Hx Z ] !
kZ
z sfzgqT H7g< sZ { Zg t
:]o

www.ahnafmedia.com

g Z b & Z Z
ZzP< sZ L Lt x *
^}g -1
XYYHx ~
Z
CW
zZ a b & ZgzZ
:6
133 m b)h
]
L L[ KZ -2
~v {Z
t( ~g sZ ) T L L
, JsZshgVgzZ] 5 LZ
Z {z_C
X N YW6
:e}{z
Z c Z Tk
q

i k0
D [ ~g Z w
X ;gzg6~g sZ~c Z c
CgzZ p= vg )

yZ X BN kZ ~ yZ 8 {iq
Z [ KZ
y{vZ *
X V{vZ *
]|{z w
sZ Z ~g Y uq
Z w & +
Y r

6< sZ ~[ Z X { Zg Z zgZ6<
] !
'
h
vg )
yZ wqX:gz$o {z Y c
VZ nZZ
nkZX !
*
y Z [ Z [ zg Z { i Z0
Z
]Z|yZQ X ]gm T ek

q
Z VrZ
! Zg Z
y ZkZ x *
Zg ~ q zX Z yZ } :
x *
Zg ] Z|~X 7D ?!
{zX
c
| 7
gZ Z L LyZ ]Y Z'

T c

~y \gzZyG@

h
X G \}:gzZ G@
~k

c
!
i: Z 7*
ZV~

< sZ }p}g 6
kZt] Z|y Z
zz%L L~G@
} : yZ +
Y ] Z|y ZX CW#

www.ahnafmedia.com

X
[ ?q
Zx *
~g sZ
y Z gzZ i*
V o) z y Z i Z
Z y
pX oZ yZ gzZ y{ vZ *
gzZ oZ
q
~
) kZ h

HwEZ x *
Zg Z

)
X Y
i*
gzZ b)h
]
L L[ ~g ~z| le Z
xZg Z W { ^
Y b
& $c
6 #} g ] !
kZX Z
ZgzZ Vzg Z Z
X ~
[ 5q
Z x *
~g ~)L L i*
[ Z
] !
KZgzZ[ ZV!

)~uz V~T
~ hLZgzZb [ Z V!
P ~g z b~ ] m Z
KZ 0t ] !
{h
Iq
Z~ wg{h
I*
kZX b
X 5"7
{^
YgzZ {*
6] !
g ] !

Z 1t ~ w LZv:Z
9] !
~g *
Z { i Z0
Z6"7[ pBwJkZ
kZ *
~ } g !
Vzuz Xn } : [ Z
6kZgzZ gzZ 9] !
gzZX n ] !
Z
KZ 3Y}uz
X D V Z Qg !
Z { ht Z b G
q
y ZVb ~ hL ZgzZB { ^
Yb*

Z x ZZ X , 7B s
z h'

www.ahnafmedia.com

X @
w q ~ Zi W {z6
bpOg
)kZX { C 1 ~gzx n~g s Zzz%
kZ *
p G b ~ [ K Z 6 s Z
i Z Z e *
xZg Zy Z% ZX 7xzz X H7x6
{6y*} g
r vZ ?*
gzZ
r Z/Z
X c
V [ Z y Z W] Z ~ kZX 5
V{ {] Z| } kZ }g g e
C HgzZy
Wp
E
+
A
/.E
Zg E
Z + {fZ w {fZ
n^] h v] ] ^]

uZ Z

gezg ~zZg6eYY Zg Z
gug 0
Y'

aHZzY Zg Z
| 1430y @
Y 2009~Z

www.ahnafmedia.com

6
~g Zh
y

1:[ !

]gzg (ZD
Y 1992 {q b) >~ xZg Z i*

:~ m?t~g tu=g f Z%~kZ

n

n~g Zh
y

IR
Jg q
Z }L L
]gzh
y

IR
pOn
kZJ Le
X } |
z
Z%

Zg { Z'~g Zh
y
Y Z/x pi Z n J

5.pn~g Zh
} Vz CZG
y
Y Z/{z n kZ
5.t gzZ
h
y

wVz JIR}q {z G
~ } iJ 6 ~g Zh
y

gzZ ~
[ZgzZ 1 ~LZh
y

IR
n\ W6

z
7 ` z2 Z Z ) X V Le *
y
h
n LZ \ WIR{z ~
( 119m
:q6kZ vZgr
Zg ?*

X
{gk

U HZt V >L L

www.ahnafmedia.com

5.J
U
"
{ CZ n & G
( 119m 7` z2 ZZ )X } wukZ6
, Z {z Zz& {CZJs Z p
5.LZ {zgzZ7g VZ D
sZ yZ/pX G
X Di Z0
Z8DkZ~[ KZr

"An agency agreement is signed by both
parties in which the institution appoints the
client as his agent for purchasing the
commodity on its behalf.
The client purchases the commodity on
behalf of the ins titution and takes
possession as the agent of the institution.
The client informs the institution that he has
purchased

the

commodity

and

simultaneously makes an offer to purchase

it from the institution." (Islamic
Banking:p.127)

5.gz ZJ) Vg 0
C\6)*
zq

Z ( G
z :F

.
5 JT
Vz CZ{ h
y
ZnJG
5.X @
Vz J gzZ @
y
h
y {z n J G
gH

.
5 QX @
kZ q : ZJ G
6y kZ6g
7h
y

kZ J BgzZ 1h
y
y
X @

www.ahnafmedia.com

~[ KZyZsfzgq6
kZ

OZJ0
Z6
VzgzZVzLZ JsZ

PX 7q ~( ~ } }g
x ! zZgzZ Zq
Z~]qyZXz wx *
il
ZzgzZ, g

^x kZ Y c
hg6}g V,Z
J ~ ] q { X d

60
Z ~
g ZD
c
0
~
X YY H7g Z 6& }
J_ZgzZJyZ?}:J

c
} : VY\ {z YZ e^
c
( J ; ) City Bank {z o nT~ VsZ v gzZ
sz kZ X 7Z ( J 8
8
;) Hong Kong Bank
g/_

(Missionary) ~{z M7W@

(Z kZgzZ
f ! zZ @
6VyZg Z ! x V n! zZZ

gzZX $
Y7+ZProfessionals X Vn
g/_
~gzZ

.
5 G
J H]!
kZ A
g Z c
{ & n!
Z

Xc
3:e
g zzc
c
3: w ZZ 7
ikZ JsZ~] q {D] Z~ !
{g
( 157@
154 :mb)h
]
) X YYH7yEZC
6

g i*

gz$bz]!
kZ ~g i*
p

yEZx6]!
vZgr
Zg ?*
*
-1
X X Hg Z

www.ahnafmedia.com

{qb) >L
L f.
t] !
~uz L L
kZ Z ng6g & kZ ~Y 1992 kZ
Zg ?*
]|p7`g ]!
tp
Z ~ Zg Z

~ z2 Z Z L
L t >Z
mvZ G
*9g r

: ^t6
qkZ
X
{gk

U HZt V >L L

5.J
U
"
{ CZ n & G
( 119:m 7:` z2 ZZ ) X }wu kZ6

?]| Zr
uZ Z?*
]|
76kZa c
t 6
] !
kZ {ukr

X YYH7yEZC
6ikZ JL Ln kZ ;g
( 157:mb)h
]
)

k
kZ ZgzZ [ g

q
Z ZZ >kZa
~g Z)f n kZ 7eg kggzZ kZ
J7t ] !
c
=J
V p I
~g Zh
y

pgzZ Y {z t } & {
pgzWWyZgz] !
tgzZX: ]gzV }
kZ ~ ]i YZ V
7oi q
Za Z
kZ G \ ]Z|x Z
gzZ W7~k

n
X ( 211,210m~g ~)) H7wDZ6
kZ
z

r
Zg ?*
pM
7~g Z)f *

www.ahnafmedia.com

H
]!
kZ~ z2 Z Z VrZX: Wg Z)f) vZg
c

~kZ VrZgz Z H
~g Z)f
]!
M
B ~g Z)f X c
bhZ [ Z Q X
g:z
zD\X vZg
rZg ? z
X ] !
gzZt

kZ g ] !
t ~ T, ~z2 Z Z ,i Z {z
~] vZg
rZg ?{zgzZ g
w{gG
Z ?g G g (Z VY { J
V Z *

V xZg Z yZ c
*
kZt , ~z2 Z
X c
W G~~
:*
-2
{g UgzZ Zrt ~k

>Zz
Zp L L
yEZ 7s 6kZi Z A C
A

gzZ yEZt
ZgzZ X 7
*f kZ n w
7t
6wZA
Y q )g f
yZV~)nqyEZ kZ[ ZgzZX @
7
c
p{zV;zR~V Dx Z ] !
kZ
t] !
ZY,yEZ gzZ ~g Zh
y

}
W~ ! J s: {z ;g Z%6q T
Vz ~ gzZ W~ yJgzZ kZW Zz Vz
]g+Z X}h
y
J )g f wJz [ XZ {!
Z
~)) X YwDZ ~ i ZkZ &7~ ~

www.ahnafmedia.com

X ( 211,212m~g

X c
w$
8
g] !
gzZ $
] !
*

pyEZxgzZ~]!
Z$
bkZ] !( Z )
C
A
L
L t~qzgzZsi ZnkZ *

7~~]g+Z L
L ~y
WgzZ 7s 6kZi Z A
yY vZ q?~ y
WQ gzZ X
Y wDZ ~ i Z kZ &
:c
:t~i Z r

g Zi !
qkZ {z Y7(Z {g Z Z c

ZQ L L
{z }h
gzW ! z gzZ }h
y
n LZ
{z {@ kZ }
z {@q
ZB gz
LZq/KZg Zi !
0Vz {)z {g Z Z kZ
-6 ]gzKZkZQ6kZh
y
n
X
g *
(ZX} h
y

n LZB
( 212m~g ~))
yEZx W@
t ~g *
bkZ
X bi Z x7
$
bz8
g]!
gzZ ( [ )
@
OZ J0
Z6Vz H LZJ c
C ]o~ m
z* -i
X @
7D]ZgzZ
~}-t !
i%]o~ m
z**
p
yZV~)nqyEZ kZ[ Z L L

www.ahnafmedia.com

c
p{z V; zR~V Dx Z ] !
kZ
X ,yEZ gzZ ~g Zh
y

}
g & gzZ 0
VsZ {z e *
q
X @
g (ZZ D

ttDJD C,B] Zj~ mz*

: D
%G Z
]o*
-ii
VzH
o*
Zzt] !
VL L
Zg { Z'J~Vg

@YH7g (Zg &

]{ eg1= V~)gzZ H ~g Zh
y

Zg { Z'n J

V {z gzi 6Vzg Z Z LZ LZ
Za yDgt CgCg[ ZgzZX N : VzH ,~g Zh
y

( 210m:~g ~))X ;g

JgzZ ~ 0
mq
ZJ \ WZ
W] !
t
Z
F
ogzZ|._0
Zxg kZgzZ] Z mz*
iz 0
JyZJ ._
?DZzgg {g
w F g!
~}g !
kZ J [ZB y tgzZ
zy
WX V Wt V Zy
~ y Z}g
%gz uZg Z kZ
CZgzZ ~g~qz ]!
KZ X V
!
g V Zy

i Zgq
Z | ~z2 Z Z 2X c
Z{xZg Z^
V Zj~ mz*] !
WgzZ Dt { z e *
[Z
X : ]!
~y Z *
pD"
U

www.ahnafmedia.com

2:[ !

nZ ZZg6
jg ZzZa{^
Y[Z*
gzZ

g ig ZzZa-

~ m
Z KZ
r sZ yZ/~y g ZzZa kZ H~Meezan Bank`s Guide to Islamic Banking[
:Db)h
]
L[ KZtF
~zg Z
tul

k
i}g Z Z ~g !
zg }g Z Z C1 L L
wM3VZzgq
Z kZK
F
jkZ

5.
BgzZ s Sg Z~ ] zZ ZG
~T
% gzZ Z Sg nX Tg D Ztu

@Y c
[ 6Vz
- gzZ Lg J
Z g @

Y Y H ~ ~g tu Z%gzZg xn (Z H X
?X
kZ Y t Z 6n,Z yxg Vkg 0
Z

t kZ6giX C7#~
g x
D 3g x 1t Z6 z {kZ Vkg 0

www.ahnafmedia.com

Hx- zZ 6
kZ {z ~y
W] ~
xZz qBzg x- kZX Z wEZt u
CZ g tuC
~X, [x c
Z yZT
n Y 6Vz
- kZ X c
~g !
zg t u
X
kZg Zz nZ Zq
Z pQ
rsZ yZ/y kZ
@
D wZ kZg Vr ~
Zt nZ ZX c
[ Z
~g xn kZ Tg D Z gzZ s Sgg ZM3~x kZZ

!
g x
kZgzZ Cw!g ZltuyZ
zD4Z
vZg )
rs Z yZ/~[ ZnZ Z kZQX @
Y
7(
!
} ) ]] o] o
t !Zj
:X @
YDg Zl @
YZh
y

y Z
Y
gzZ 4Z: Zizg q
~ TM3VZzg {iX g xp L L
)f Z g ~ kZq
Tg D `g {
q
C

z qzg xn kZ X
7~g Z
g xzz T x*
g Zl ( tu) wZ kZg
X e *
Y
kZ >*sZ}t[ Z nZ Z !
{g
kZgY c
Wni Zg x Zgs %Z~}g !
t t Z6
kZ Y f4X 7c
o *
xwZ
:vZg )4gX 7o
7ot ni Zg x._}g
ot q
4
vZg w
x Zp
Zxg ZlwZ kZg

www.ahnafmedia.com

7 YZ
n-p] Z &

t ? ~g X
g xgzZX
!
q Z 4
{zZ
C
z Z s C
C 7
!
q Z 4
~}g !

wZ kZg~ q z
@
YD kZ @
Y Zh
y
y Z
( g x)Y
X C7
!

{z~ Z
( 143-140:m )

~ b)h
]
[ KZ 6k

kZ sZ yZ/~
:
s Z y Z/~ ]g vZg ) k\Z
V- ]g vZg )Xn 7t Z kZ c
C
r
:
^] o] ^^ e ^n ] ]q i ^r] ] ^
] m ^] o] oi ] k ^] ] ^q
^ ] n ] ] k ^ i n ^ ] a ] ] ^f ^ ] a ^
D63 6 t ^] ]eE !] k xe] ] ^q o] pm
C 7 i Z -p]Z &

t ? ~g :F)
EE!
|
wZ kZg
z-gzZ X C zz i Z Z
|EE!
a
zh
y
y gx Y 7i Z Z
g Zl
Z CYxg ZlkZ
z kZ n kZ @
Y .*
z Zg
( X Sg7w!g Zl
z
*
D-g Zlt u
z-t Z%vZg )

www.ahnafmedia.com

X ? 7oD ) Z g Zl
z- It X 7o
@
Y Hyiz . *
z Zga
z~g Zh
y

D
pvZg)
.*
z Zg ZxX @
Y D- Dg Zly Z
z kZ
gt
z- . *
z Zg {z Z%vZg )
t . *
z Zg
z-nX
g xB yZ
Zgz D ) Z g Zly Zzz {g
Z
Z syZ c
zz
D-:gz Z D ) Z : g Zlt u
z-~X
-
X
-kZ uLZ &
z i Z |y
y
W
]gzgzZ )6
yZgz Z Bmn J
]m 5~

- ~gzvZg )X ,b n LZ ( zz
yZ YYe Z 7 z ( Basis of daily products)
tuyZ
z-p, -
g x~ :W Wz ~gz
r
s Z yZ/]g vZg ) nX: {i Z0
Z g Zl
( 144,145:m ) X 7
g btN~hLZ

:i*
~[ZnZZkZ}g
nZ Zt 6jkZ Hn~ LZ ~L L
qz
]g ZlwZ k Pg ~ kZ Y
}g7
z
- t [ Z kZ X 7x
z
: ~ Z$
X 7o*
xwZk Pg
e n ] k ^] ]e ] ^ ZZ
D63 6 tE
XX!^ ] ^e ] ]r

www.ahnafmedia.com

HwDZt
ruZ Z?*
]|6kZ
n
q Z
c

t W Z$

r
N Y yiz.*
z Zg
z k Q Y ~h
y

X ( 144mb)h
]
)X YxwZk Pg
xq
ZwZ k Pg}g Z~
t|p
Z X CY ~h
y
M z Mz 'Y ~h
y
7,q
wZ k Pg Z
z ~g Zh
y
t Z$
r

x6~g Zh
y
Z wZ k Pgh
'
~g Zh
y

T
x
Zg7
z kZ W
z Z
J
V Y
~gzn Z *
x wZ k PggzZ [ xwZ k Pg
~g7mvZ G
*9g )OX s 6kZ
:t]g
^ ^ e ^n ] ]q i ^r] ^ZZ
(^] o oi ] k ^] ^q (^] o
^ i n^] ]] (^f^ ]a^ ] m
xe] ] ^q o] pm (^ ] n ]] k
XX!] k
D63 6 t ] h^j (^] ]eE
*
xwZ k Pg}g7 Zz s {>
b{ ._kZ @
~gz
z
wZ k Pg g 4Bzg ~ g !
zg V V gzZ n Y H
X [ Zz

zJ
V Y @
x
}g {z 5tu AJ
Y ot
Z:gz

www.ahnafmedia.com

tu%q
Z t kZ e *
x yZg
]i YZ tuh
'
&
J

vZg ) 6Z 6g$
] !
tgzZ 7
~gzn |g *
W~ D u}g7 c

qz @
(Z ~ jck

ig ZzZa- gzZX
~ k Q vV VQ Cxg Zlq
Z wZ k Pg ~
J
V CY CxSg {z D Y s Z e Sg
C _ Zz bkZ wq ]g~g7
z [
X Lg7wZ q Z 4
( 324,325:m~g ~))

X VZy

sfzgq~] !
kZ *

1]g vZg )-1

@Y yiz .*
z Zg
z ~g Zhy
L
L It vZg )
X yiz " .*
z Zg
z -
6] !
kZ X
ZP c
~i q
Z y izgzZ ~g Zhy
{ Zp
1yiz y Z
z~g Zhy

X~
:5F]g ~g7vZg )
C 7 i Z -p] Z &

t ? ~g L L
g ZlwZ kZg
z-gzZX C zz
!
i
.*
z Zg
z~g Zh
y

gx Y
7
!
i *
: x
g Zl
z gzZ CYxg ZlyZgzZ @
YHyiz

www.ahnafmedia.com

X k
7
!

g ZlwZ kZgX~ ]g kZ vZg )

xp
Z
g ZlX 7 xz kZX
kZwZ kZgt ] !
iX ]!
xq
Z {zp C
X]gzyizng Zl-p~e
gzZC[ ZpVg 7{z ] !
J
[ Z
:t 6
qkZ]g q
Z Cb
nni ^ ^] ] ] e^] o jm
D1411 ^ rE !^ ^^ q xe] m^] u
gzZ o *
xwZ kZg ~"
g pb-
:F)
( X o*

zb
z+~
: ~Cb
^ n] ^^e ] ] nje ^] ] e ]]
^] ^m ^a ^n] ^] a] o e^] ] ]]
D332 4tE
!rm ^
Hfg ZlZz kZ Z% xwZ kZg :F)

Z ZggzZHn"
q
g pV Wz }
H{g
ZskZ c

yZ ~ VzgzZ H{g
Z wZ [g sTV~ $
( X ^
Ynt:xg ZlZzZg
7
z
zno!
{gC

tgzZ
@YxwEZtu Zg J

z Y
X YH{g
Zs$~ Zgg7!
]gz
D )Z c
-wZkZg~ZZ
gz Z"
g p Zx kZ

www.ahnafmedia.com

!] v] X o*

Iyv~
-2

-:gzZ6g )Z: ,:tugzZ ,ny

Wz
W Cgw {zgzZ @
y
h

6
y g ZD
kq
Z~yZX6g
c_ yJ yv
q
LZt [ Z @
Y uh
?}
yZ6
VzyZyv ^^ ] o n]t
t n kZ Ht u Vz Z7t V X gtu
X n7c_q
}uz

@
7
W
Z6
~ptu -3

*xtu~ Vz 1411 { C"

g p c

Z
g ~ .
Z/g p
Zg ZM3tuiq
Z [ ZX o
~uz g 7 "
g pq
Zt } wZ eh
'
~ kZ c
Zd
: ~CbX Y0"
g p
h ^ ] p ] ^ ] $ ^ e ^ ] q o ]
nje^] o ^] m ] ^] q] $$ o n^]
D345 4 tE !m]e ]
Bzgg ZD
q
Z~X c
Bzgg ZD
q
Z6}uz q
Z :F)
c
X 'g&kZ c
iV Vz [g pX c
gzZ6oZ
6
$
h
ZKZ ?~}g !
q
ZC
~VGg pVz wZ[g
( X z
q
ZyZ *
Z

Hg {g pzyZ V

www.ahnafmedia.com

X g Z
"
g p
z c
{z Y Z e w h
'
~"
g pq
Z
Z Z x kZ
Z gzZ Y 0 "

g p5 "
g p c
N Y 0 {g p
X Ysp~"
g p5!{z wg~"
g p

@

z"
g p-4

nY6n ^ v _ ] ^ o x e ]~ V g!
{g
} @
Y3g7Vzg ZltugzZ ~ b Y
g nx 6z kZ c
40 [g p6tu k
: Zg6h
60 h

{z6tu q
Z sZ

X
:gt~Cbs '
} }g v
Z Vnfi
^nf ^ ] ne onf kmj] ^ n q ^ ]
^ ^rj] om oe ^m ] e ]]] ^ ] ^
!%] ] ] pj] q ^ne n xm oju
}g vgzZ } {z zh
y
? }uz q
Z :F)
kZ
ZQ X YZ }uz X yxg }g {z c
yxg
q ZzY~h
y

gzZ
tVq
~]g {zt Z%Vz
( X 7~
qyg Zl7gzZ q
~h
y

c
Ct:gzZ Hqtu CZ : ~wVkZY
X zH kZ~

kZ y xg } g { z zhy

? q
Z Z
~ w VkZ

www.ahnafmedia.com

"U

! ~ kZ ZX
@Y ~ s
GB+
: ~g 5 Zg ZZX {z7kZgzZ
] ne one kmj] ^ n ^ nr]] o ^
^ne o] n t^jvm rm ^ne ^ri ^mj] ^ ] o ^j]
^ o ] n ^ ^ k ] ] ]
D376 3 tE !mjm
] q V zgzZ zJ
hy

qq
Z sn{gtQ
Y`@
~g Zhy

y Zuz 't kZXgp~kZ

) Z tuY ZZ wVt ZX 7
g} : p ] Z ~gzgzZ
X
: 7 C tuY ZZ ~i Zzg ZzZa - @' kZ
Xf
b:gzZ ~e V I:y

www.ahnafmedia.com

3 :[ !

nZZu
Z z Zg6
jg ZzZa{^
Y[ Z*
gzZ

sZyZ/[
yZY B7^
YjkZ Y f)PL L
q
~g x Tigq
Zt ~ w
~g !
zg ettzzX @
7xZ c

tu c
}u q
q
Z Z
Z~ V yZ { c
i
yZkZ z!
kZ X: f .
Zh Z c
:
~( ~ ] kZ VM Y 'Z' Y }uz
g !
zg et ~ ]g@' kZ X c
tu~g Zl
tu{ c
i q
q
ZZ
Zyv{ c
i~ ] kZ
Y c
vY v yZ yv kZ z!
kZ X
Xf.
*
Z hc
:t u~]kZ X
t~g x YYHg6
kZ? ~ Y fyZ
Z Z
q
X 6t uLZ sq
7 ~gz
Ds kZ Y x
@Yg xi
qg x7c
Z wEZtu yZ ~-m{

www.ahnafmedia.com

6gm{ ]!
t X Dg Zz~ Zz
ot ni Zg xV yZY W
{ c
iq
4
X Yc
o V-uY x 7

g Zl 9 Zz q
jkZt q nZ Z
qz]X yq
Z ]
g x,n
Y C7x
: g ~ ] ~g7 gzZ X Z g ZD
k gzZg ZD
0
/~
Zd{z y kgzZ Z g ZD
0
~ qzh
i~ yZX Zd
X Z Q9zgg ZD
0
~Vky
WX n
!''ZtuVyZ
( 5) 5,00,000=y 100x 9zg 5000/
( 10) 10,00,000=y 100x9zg 10,000gzZ
( 1) 100,000=y 20x9zg 5,000h
igzZ
9zgg ZD
16~ yq
Z g~ wEZ9zg16~ y 100
Z / [
- 9 zg 8000
Z Xg ~ wEZ
et [Z X9zg 500 Z h
igzZ9zg 5000 Z gzZ9zg 2500
V k ky
Wz q zgz Z Z~ V 4Z yxg 9 zg 8000
~ Zz 6V-u Vzuzzz h
i X Z: ~
:b)h
]
) X Y~ ]gyv,Z X 9zg 500
X ( 145,147m
jg ZzZa- ~ ~g ~)[ KZi*

: 0

www.ahnafmedia.com

~ V~) n
g ~ f x Zgz Z VZ y Z
y vz 6
g Zz Za- gz Z "
g pz

@
Wt
~ Vzq z g & Zzg ~ kZ Y Hg6
yZ 7ZgzZ g W M z M z Y ~ kZt q
ZX
Zuzgz Z ; g Y Hq
~ yvc
[
]
kZ6g~z b
c

] v t
oW Z Z6V U Vz yZ [ ZX g

X
m 4Z ~
Mz Mz Y J
V
z/gzZh
i < n
X Bg6wV{ q
Z n kZ
t X 6] 5 Z g !
zg Z q
Z
J [ Z X Dypg J: [ yvz LZ Vz
~g !
zg \ W~ H yZ b ypg
~g !
zg LZ z/gzZh
ia V Le *
q
wZ et u
{zn kZ ]gzuh
q
'
nz
g !
zg t u ZDtgzZD Yqg6
gzZYq
~{ q
Zg !
zg {z T Z e~
Z
ypgJ%Zq
Zq
Z Y V

g { b s~g Zz a [ yvz
q
Z {z n kZ S W~ Vzg Zzz}uz
N Y 56kZ &
V
ZX g Z h{z
7x} XXn ^v_] ^ o xe]ZZC

www.ahnafmedia.com

'X CW7xi~igzs wZ ~

~kZ
X 6
g ZzZa
H~y
W[ Yt wDZ ~
6kZ
ZZ Z6wz/gzZh
is @
Y
{z~ kZ
~ ; g g Zz~ k Qp q
q

X 7q
~g !
zg {z
zk QZ
Z
g !
zg qzat n~}g !
wDZ kZ
X
Z z kZn Z7q
~
X 7] !
s s Zzw~kZ n kZ
( 316`317:m~g ~))

:'!
z i*
~]g kZ
X 7] !
s s Zzw~k
Z It*
-1
@
Y 7t Y
It *
-2
X ZH69zg
:,yZ{e{eW6V!
VzyZ

www.ahnafmedia.com

g ZzZa- @'

w*

s s Zzwi
: *

~g !
q
zg qzat n~}g !
wDZ kZ L L
zw~kZ n kZX
Z z kZ n Z 7
X 7] !
s s Z

Z z ] wEZtu t
V VzZ

9
z Zs[ 6ig ZzZa- p
:'
Z'
9 zg 3000
X Z { 6~
Zz/zh
i
9 zg 3000
Z{ 6}uz~
ZgzZz/h
i
9 zg 6000
Z
9 zg 1000
z kZ
} Lg !
nZ ZZ Zg ZV Vz
ZgzZ
9 zg 4500
X Z { 6~
Zz/zh
i
9 zg 3000 X Z{ 6}uz~
ZgzZz/h
i
i*
pBzg 1000 s
h
i ._

www.ahnafmedia.com

250 ~ y ZX9 zg 1250 X._ j C

X z b

Zz/zh
is {z9zg
9 zg 2000 X Z { 6~
Zz/zh
i
Z bZ
9 zg 3000 X Z{ 6}uz~
ZgzZz/h
i
9 zg 5000
X Zw}g7
9zg 833.33
5z kZ

9zg 1000z._Z

7] !
.
s s Z z w~ jkZ t n
X 7t

www.ahnafmedia.com

6
gzZ uLZq
@
'
w*

: V- [ Z nZ Zgi*

69zg @
Y 7t Y
L L
oY~nj
t u V
ZH
X ^
YyxgY ~n ZX @
Y

pX ~ BVb *
n "
U
} kZ LZ

~ yZ n kZX gzZ T e *
C *
7{z |yZ

X D7{6
kZq
Zq
Z

wV

:i*

z/gzZ :e ~ g !
zg tu h
i < n

{@t ~q gb!
{z
ZX DVzx gzZ J
]gt :ez/gz ZA J h
i,
X ^
YZ Y gzZ ^
Y~ zg g U
W!
{g
h
i : e z ~ Jh
i[ Z
!
gzZ Zq LZgzZ{ uLZ
t n kZp gzZ u z/

www.ahnafmedia.com

X w'._o{
( 318m~g ~))

{Zg

It*

LZ h
i :e z ~ J h
i [Z L L
z/ !
gzZ Z q LZ gzZ { u
._o{t nkZpgzZ u
X w'
zz LZgzZ uLZJ}g7 h
igzZ 6g Z
7 kZ ~ z/t zzgzZ Dq
: ~1345{ C X { c
i
n] nnje jm ] ] om mj^e ^j m ]
o ] f ^ e n % ] m ] ^ r ]
^m] ^ ^m^j ^^ ] ^ ^m ^ ]] %
] m xe] ] u ^u] ^_]
!] ] ^_] ] o ^u] m ] rm ]^q
GG
q
Z ^
Ytgz Z @
x3!YG7:F)
z y
q
X { c
i 7 }uz 7
q
Z~ ot Qo6VzgzZ'Z'w VzV
{ c
C
i + A ~g !
zg {z YY ^
Yot { c
iz
( X{ c
i{Z
kZgzZ
:Cbg
W

www.ahnafmedia.com

!^ ^ i ] ] x i ^ ^ x e ] % ] ^ o ju
D4 t 267 r] |E
tuZ
) 6g Zz T H bkZ { c
i
Z :F)
t ~ ]gkZY ) : 9
q
t t !
( 'Z' Vz
X ( @
VZ {Z
gzZ u}uz
| E ! ^ x e x m ^ ] n % ] ^
D4 t 268 r]
kZgzZ 79t
Ho { c
i n )
Z gz Z :F)
: gz Z u}uz {zgz Z ) A gw kZ s
X ( 0
:t]gq
Z%Z
m ] ]j] ^j xe^e ^j] ^j] ]] ^]
] ^ u ] ] ] ] f j x e ^ e ^ j ]
| E ! ] ] ^ m ] k ^ ] n
D4 t 296 r]
}g !
ogzZ g { c
i b nq
q
Z
Z :F)
q
Z sc
H Vz {Zpxo Z
Zi H: f ~
Zi Zz { ZpgzZ H: gc
Z
g}uzgzZH
( XZuz c
Zz
}uzq
Z 'Z'VztuZ
YwXkZ
7
kZY7
gwt pX ;g { c
i u
pn kZ k

*
p7f op
Zt ] !
ZX

www.ahnafmedia.com

}uz 7 q
ZgzZ , Vz (Understood)
X qrzyZ kZtHq
Z
ZQX { c
i

wV~uz

:*

-
z/gzZh
i
ZtwVZz{ c
ikZ
w LZ sh
i
Z z!
kZ X H7 Zt u CZp1
Vq
Vz~ kZ mh
y

q n

Vz yv kZ Y {nq {z ~g Zh
y

ZgzZ

: ~ E
5{Z Z$
XN VZ
o ( j] ofi ] ^ZZ
jm^ ] [xe] j] o ] ^] ] j]
xe] j jni m rn(]
pj] qm xe] j] (^] j
o 'vi (xe] oa (^m] (u o ^e u]
^] ^ ^ue ]] e oju ]
XX!] ^i e ^nq n^]
Do2] 60 6 t ^] ]eE
( 318m~g ~))

{Zg

7~ hyZt p wV Zz { c
ikZ *

X sf `g { zX Zz{ c
i~s yZ
: Hf,t*
-i

www.ahnafmedia.com

!^] o n ] n ^v_] ^ o xe]

tu yvgzZ N Y 5Y 6T 6
kZ
( 308m~g ~))X g
[ ZX 7o *
xw Z kZg q
4
*
Q
LZ h
i~ w V{f kZ *
` f 6
y v bz/ X { n { zgz Z ~h
y
q q
Z n
w
w L Z kZ :gz Z Hf w Z kZg L Z : kZ ? q
~
b gz Zq
VY~ y v{ zQ X Zh
y

?
n
w L Z sh
i
Z L
L t *
-ii
z/ c
W@
tX
V q
V z ~ kZ m h
y
q
; g uh
i 7 ~g Z)f K Z kZ { z ; g
X
( yJ) ~g Z)f KZ {z
z/t |gzZ ]!
t
: ~1347{ CX
zz
ve ^e ] ^^e ^i m xe] ^vj] ] ^
!^ ^e ^i m 85 ^]
( ~g Z)f ) yJ bZ @
c
w t Z ~ :F)
( X @

X ~CbX gz Z w X Cnz ~g Z)fgzZ

^qe ^m jm ^ n ^ p] ^^e q] o
^ ^ p] ju ]e ] ^ u] xe] vjm ]`

www.ahnafmedia.com

! xe^ j%^% ] pj] ^

~hy

g J Z cg WZgzZ >
Yz KZ t Z ~ { z
:F)
~ {hy
q
q
Z n Z X @
zz y J 7
V z~ {hy

ZX

g 7t Z ~g Zl{ c
izLZ
( X Z oq
ZgzZ z c

LZ ~ kZ q
Zuz }h
y

g J Z q
q
Z ~ { z

LZ q
q
ZZ
~y
bZX @
7gz
n q
gzLZ~ kZ Zuz @
y
h

t u
Vz ~ ]g {n zz ZgzZ @
q
7
X D
Z'yvgVLZ

wV~

:*

H: q
A
q
Z
Z~ wqZ bZ
B6 q
}uz @
q
~ ]`
Z kZ {z
8E
g
: ~ uoO
^ u h ^ ] ] o ^ m ] V ^ Z Z
p ^ V^j] ^ o ^ne xe^ V] m
o ] o ^ V^ "
# ] o ^q q
E V"
# ] ^ (r] o om m
] f j e q ] ^ v j ] o ] D j e
pi !^u ] ^e ^ ^ fj] (i^f
x e ] ^ ] e o ^ ] h e ^ j ] ] h ^ ]

www.ahnafmedia.com

^mjm ] o nm] pi !] o ^ne

n ^ m q o m ^ n _ j m ^ x e ] o
] ^ j]v xe ^m ^u jm ^e (]
^ ] o ^ ne xe ] m ] ( %
pjm (^u ^f ] ^ ^ ne ] o e
] ( n e e ] ] j ]
^ e x e ] ^ v j ] ] ^ j ] r e i m
XX!] o
D] ] V 158 ( 157 11 t ] h^j ]] (f]E
( 319m~g ~))

{Zg

n
T e *
Ct *
wVkZ
gzZ uLZq
Z @
77t
kZ~ h

{g X ] !
t *
X gzZ u}uz c
;g
:gV-~1349{ CX
c
~wV
] o ] ] o] ^e ^] xe] ^vj]
] m ^ ] ] ] o ] ^ e a n
] ]j] ^u o vnv ^m] % ^ m m
m n e ] e ] m ^ u ] ] ] ^ n o
] n ^ &nu ^j] p] q] o ^ne xe]
! ^ ^m] a m m f
Zz @
6
o{ tZ ~n
:F)

www.ahnafmedia.com

} : p
Zo
*6Tq
{z ZX @
76

~yZQo
*6VrVzgzZ9
}X @
g Zz
o A
}: gc
gZuzgzZ} q
Z
}uzq
ZgzZ @
Vz }uzq
ZC
~yZY ._
( X @
g
o6Vz~ T Hn wqZ
Vzt
Z Vzzz
q
X Z"
U
t Z~zz oX
g66x kZ Zuz } : x q
Z
Z[ ZX 0Vz}uz

a} x Z n
g ~g Zp Zuz
ZpX Y
Zz x Zz : x n kZ @
g VzgzZ
X YH:xz gzZ Y

wVa

: *

gz Z @

7 q
w ~ { Z 2L L
Z6
KZ Wz C n ] !
kZ s
KZ sq
q
Z~yZ
ZQX ~g Zi !
h
y

g J Z
Z Zz &:gz Z : Zuz } h
y
w 6
>
Yz
~ Z$
O X @
Y q
~ w kZ { z A
} Y
:
^ m j ] ^ m o ^ q e ^ j ] o j u ZZ
o ^ ^ n ^^e ^$$ n ^ne ^ u
^ne pj] $ ^ ]^q ^ V^j] p^j]

www.ahnafmedia.com

!^] o ^ne xe] !pj] o ^n o

D87 5 t ] h^j (^] ]eE
kZ6i ZVnVz yZ mvZ G
*9g )
: c

w+Z b
^] ^ o n] me ^jm ^] V^ZZ
V ] ] n ^ ! u n ^ n
^ ] o jm ^ V o o j jr i
] V ^q ^r] o j] ^q ^]
V o j m o j n ^ ] ^ j k
^^e ] ^ ^] nj k ]^e ]
(^] nvj e ^] nj k ^ q^e
^ jni o q^v] ^] nvi o q^v]
!o ] nvj i ] nvj k
] e ^jm ^] #
" ] &e ]
mj] (n m m &nu o
( ^ f ] x ^ k ] a ( ] q u
x^ m ] ]a !vj ^] ^j] o jq^u
^ ] ^] o jm V^ ^ ^j
XX!^^q ^q
D58 6 t ] h^j (^] ]eE
@
Y 7t ~
Zz V VyZ
ZZq9zg{ Zp ZH69zg

www.ahnafmedia.com

X @
YH
{yxgY
( 321@
318m~g ~))

{Zg

qZzzyJw`f]!

0{ z

)f ) 7g{ LZ ~ y } h
y

}uz q

tZ~6
kZgzZ q
Z ( ~g Z)f ) yJt X @
( g Z
X @
W

wV,v0

:*

:N
5wVgzZq
Z
] n | _ ( ^ o q ^ ] ] Z Z
( n n ^] ^j (^^vj] ^q ( ^e
m ]e m ^^ ( o q^ve ^]
gu^ ^j o m ^ (^j o m (^]
^] o fjm ^] gu^ (m p] ^]
(] vm ] ]a mri o (^] o ]a %e
o m ^ ] g u ^ ( o m ^ ]
!^] o m ^] (
(^je ^ (^ o (] ^] h gn_m
f j m ^ n ^ ( ] e ^ ] g u ^ n m ^ e
!^e o m $ (_ om (h%]
] ]a VoF^i # ] u o] ] ^

www.ahnafmedia.com

XX!^] q^v n &nu (] n

8 t (] ] (] h^j (o^af] nv]E
D] ] V355
( 321,322m~g ~))

{Zg

(2) w (1) tz &t Z ` f 6

zZ
X yJ(3)
t[ ZX gzZ w @
bzyJ`f t gzZ
X @
bq
Z yJ
: ~1346{ C
( bq
Z yJ) ] ] ^
Z }6y KZ q
q
Z XwV ~ *
[ Z
gzZ } wzx {z @
tBkZgzZ @
~ig c
mg
T e *
Ct*
X yxgVz {zwz]`
Z
]`
Z }uz {zzz nQH7g Z0

X
0g Zz~
X Hgz.Z*
CbzC
: ~C
^ e ^ ^ $ ] ^ i ] ^ ] ] ^
jm a fjm ^ ] o m^] h^e] ^ o
^ne q] om g] vm ^ ] m ^]
gfe ] u ^] gu^ ^vj] ^q i ^

www.ahnafmedia.com

D1346 ^E ! ]j ^^
bkZ Wz Z

X bq
Z yJ :F)
x p{z6okZ 6y KZvg q
Z ~ yZ, 0
{z q]`
ZgzZ } x Zuzgz Z ~g Z)f kZgzZ }wJ
tZ~ ]`
Z Zz ygzZ X ^
Yt ~ Vz
( Xg Z)f x gzZ {z:
kZ
: ~Cb
^ ] o ^ ] ] ] ^ m ^ h ] q r ] a
^ vjm n ^u] m ]^ !oi^n ^ ]a
! ^ v j m f f f j ] f j ] ] e] q
D4 t 270 r] |E
y J ] ] ^ ]tC:F
)
X @
tuZ~wqZ
[ Z wZkZ bq
Z
t[ Z kZ'? ]`
Zoz{z: o6q
q
Z
ZQ
oz{zzzkZgzZ q
Zpt
~g Z)f kZgzZ *
wzx
X (
]`
Z
y KZ 7zzzg Z0
r
p,i Z {z
^e EX @
p]zZ y 2X c
Cn
!D] e ^] gu^ nm

wV

: *

q
Zp
ZV;z 76
zZ BV
gt

www.ahnafmedia.com

E
EG
4$
3

Yz c
w }uz
yxg yZ p ;g >
] v ~g & ~g gzZ
p 7q
~-{zg W qz
z z!
: - V +Z nq
Z
g/]|{zgzZ t"
g pyxgVh

} Z yQt {z gzZ w~ x Z
]|
z kZ V t Z/0vZDgzZvZ]|
{g k0
/]| ggzZ q ~Z .1Z
{g } Zi
rt /]|Z
T e '
\ W~ gt yZ ~Z .1Z ]| Y
h
y

V y kZ e \ WV h
6g n

O , h
/]| g ZgzZ Bgp ,
V;z
c

VrZ ZD/]|Z
pH (Z VrZ
kZ Hnt n {Z
V} .1Z
]|X , :Zz wZ
{z c
VrZ n
6 ~g Z)f kZ @
Yuhwt
Z c

vZD
7] !
t/]| e NkZ n kZC
, "
g pZ \W 7 m
?
r q
Z Q
Vz Z yZ J Wng Z
"
g pZ /]|O
Y Y vZg x Z )X c
Zz4Z~wZ
J WgzZ c

( 1195g
unZZ
z kZ ~ Vz Zi r

yZ g Z
~ Zz kZ

www.ahnafmedia.com

"g pZ~ /]|p 7- "

g p
~yZ ] vZgx ZY kZX c
g Z

:
V-q
Z
] ] u x e ] o ] q ^ n p q Z Z
^] ] ^ ( ^ jm (xnv]
^ n ^] p ^ (^] ] u jm ^
] q (n nmj ^m ^ ]
XX!m oe e] o e ]a (xnv
( 322,323m~g ~)) D 9 8t h] | r]E

X V- ~ x Z rZg7t
!]] o] nq o h^_] e ^e] ] nf # ]f t
^ e g u f ] n ] p ] o o e ] o ] ^
^ ^ oe ^ $ k e ^] ] o ^ ] ^ $
^^j e ^^fjj ^^ n] n] o] e &e] ] m] ] ^
n] n] o] ^] ] ^mj m^e ^nfi $ ]] ^j
] h^_] e o] gj ^ ^ xe] n
e o ] ^ ^ ! ^v e ^ ^ ^ e ^ ^ ! ^ ] ^ ^ m
h^_] e ^ ^ ^] ^ % ] nr] ] ^ h^_]
^] k ]f ^^ !ve ^] ^m] ^^ n] n] ^e]
] ^] ]a n] n] ^m ofm ^ ^ ] nf
q ^ !] nf q] ]f k ^m] ^ ^

www.ahnafmedia.com

!^] jq ^ ^] jq n] n] ^m ^q
xe ] nf ]f ] ve ^] ] ^
!^]
: ~sfBV0 z~gzPFkZ
X t ZBHsZvZDgzZvZd
z /]| L L
q{y Z6 ~Z .1Z]|g* yZ UV;z {zZ

eVz\ W j~
Z L LgzZ HxlyZ VrZX
w ( ~g u) vZ k0
}V; }g Z QX V gz
X V n
Vz \ W~ w {z X V Le ' /]|~
X ,|
z
kZ VgzZ Bh
y

y t ZV g kZ\ W
KZ ~ kZ Vz yZ X Bgp gzZ , Z Z/]|w ZQ
X C
g
{z~k

/]|gzZ ~} yZ g ~Z .1Z]|
X c
gzZ H|
z
y VrZ {z Z
X Bwz yZ g
Vz ? .1Z H Y7 VrZ ~/]| gZ VrZZ

7 c
[ Z VzyZ ? c
n
( n )H}g7b
kZd
>ZZ Vz ? c

/]|6kZX c
7Vzuz
~ w Z
gzZ )
gzZw ZgX c
n
s 1Za
zz }}}uzgzZ Hq 6w ~g u q
ZY Z
lW ]g ~ T g {Z
Z!
= gzZZz {z
X (
t \ W>ZZ } Z vZDpg l{ vZ6kZ

www.ahnafmedia.com

b yZz@ kZ Lg @
Y Zg c
@
Y w
ZY 7
o
n
w ~g uta kZ H7t? yZ ) /]|X
h
y
y CZ w Z
Z }Z gzZ Z Z Y Y c
7
vZ6kZ X Z g
? ( 7) c

( gzZ X @
W6kZ yZz@
q
q
Z~>6
kZX g] !
KZQvZDpg l{
g pwYg "
Z @
) k "
g pkZ\ W>ZZ} Z
/]|X ( YtugzZ gzZ @
Z k0
[g p
vZDgzZvZgzZ 1 gzZ w Z ( VrZgzZ WI ]!
t )
X 1
} Zzz k0
g {z ZxrkZ
w Za kZ*
z c
zz z !
*
c
q
Y Hw6"
g pkZ c
}
ZgzZ X 7
g bg J Za
XA {LZ t uBB @
G@
kZ 7x 0 Z nmt It Zg
t {zX H*
p C ZjkZ[v b
gZnt) ^] ] u jm ^ ^] ] ^
Cz~ .~T n ~g ugzZ )
Zz !
{g *
i Z0
ZS Z Z ]pX (
X g
] 5x
X&% x V V0)+Z *
n

www.ahnafmedia.com

4:[ !

~jgZzZa[Z]gzgzZ
:*
BV!
{g
Z~XBV bkZ~"

g pgzZ

x ZY pN 0
gZ
^
Y*
{z Y Hp Vg !
x
m~g ~)) X c
g Z
^
Y7~
qgzZ7Z
X ( 321
'gt 7tY A 7BV( b )tL L
Y t Y A ;b~g7 6jg ZzZa ~
qgzZzsVgZ+Z
vZgx Z
c
c
b }uz q
ZC
~ X c
g Z
^
Y6

X ( 323m~g ~))X
;g VZ {Z
>
Yz

q
Z ~ V VyZ T e *
Ct *
] !
kZ KZ
p s @
VZ {Z
c
u}uz

www.ahnafmedia.com

g ZzZa- bZ c
g Z
^
YVgyZ Y zzz]gz
}uz q
Z ~ kZ s p
Z i
]gzgzZ kZ~Vap @
VZ {Z
u
X e bg Z
^
YikZ n kZ

Dgzp kZpD7p Vg !
xp
ZY
Zzt ~ VV {g Y zz Z X V: w 0

*
p;g VZ 7{Z
gzZ u}uzq
q
Z Hx Z
X i Z0
Z| ZkZ
D
*
]gz] !
g
J ~ g @
m{q
Z {z
*0
]!
kZ V L L
gzZ .
*
B~ g @
q
ZgzZ N ZgSg ~
Zg gygzZ {z g @
m{ kZ Y t
Z
~ D 3"
g p Zg ~ .
Z .
{z ]gz
q J x gx +Z t kZ : q

X A: yx gyZp}
( 304m~g ~))
: D
2
*
spbkZu 0
} g Z ZJ
Z L L
q s k QgzZ J s VxVx
~ J Sg Xx Z{z N VZ: {Z
g ZtuZz
g ZzZa- Q n o Vg yZ {z C

www.ahnafmedia.com

gzZ c 6zZ 6i Z T Z jkZ

X ( 333m~g ~)) X 73 Zg
X : D
s ZyZ/~
kZ Y H: wJ 6
g ZzZa -
Z L L
~-:gzZ YZdg q
:t
{z : en bkZX $
Y g 5
{gH qz 5Zn Z g ~ -
g ZZ Y~Vzg Z Z C1 gzZVX ~V:g @
F~ y q
ZZz Z V .
*
}uit
ggg ZzZa - X D ZdgzZ D Z b g !
F
~ D 3j V g6y Y
]g z]!
tX ,g OZV{zZ t u
C1 bkZ gzZ wEZ Vxn F
( 4z]
/J4<XF
X
N Y{gx Y!
nVsG

Meezan Bank`s Guide to Islamic

( Banking

i ZkZF
)

:gZPtq Vg !
{gyZ
]!
kZVzzkZ g ig ZzZa-
z kZ -1
gzZ N Zg Sg~ .
Z/g pJ~ g @
m{q
Z {z
*0
X .
*
B~g @
q
Z
7e%ikZ *
n oVg { KZ x Z-2
X

www.ahnafmedia.com

( 4z]
J4<XF
{g x Y !
n V s/G
C1 % kZ -3
X ^zg~F
]g zgz ZN Y

Z Sg A
,C : x { ]g z -i
yZV Z ' g 4z]
C1 N Y g~ .
Z
X A: 6Vg
x yZ
* zz kZ qg s Vs Z V -ii
X 7c
]~g{z7zzkZ ._<
X Z ~g Y w z ~ y 0
i g ZzZa - -iii
n V ! zZ X b x CZ s ' VsZ
M x # ` Z'
LZ x ! zZ :gzZ @
Z 7^zg
X @

gzZN Y gzZ N YZ Sg~ .

Z/g p
Z{ &C
-iv
~g tu ~Z sX 7]~(t } 6
]!
LZJ
X $
{zkZ
{z 7 yZ @
x ]g s Z yZ/~ -v
C
X D ZdgzZD Z Sgg !
FF~yq
Z { c
iv

k
*

*
Z g {%izg~ VnX V ~g !
zg } (
t
X D7yYx tXA: 6
kZyZ { Zp

www.ahnafmedia.com

5:[ !

/g pzg jg ZzZaxg D ZdSg.

Z

: *

Z D WsU }uzg & kZ [Z L L

tkZX *
ZdSgq z"
g pz
Y
\I
EE
B
CZ |g {z Le *
Zd njukZ g KZ
X
|
z
Y }uz6gc
~zb
z
( 327m~g ~))
: 2
Dq
nkZsY x ~VL L

g pw tux ZX ,"
"
g p6gZ J {z
[ sp~ VNU
Z)~g !
zg wta gzZX

wZ [g s._ wZ {y Z$
n kZ

t pwZZ [ !
g Z}uz
Z [ ZX 7"
g p

Bh
y

z kZp{z6,Z O & gzZ f

www.ahnafmedia.com

( 331m~g ~))

? ]!
HwDZ~kZ

:h
'
*

~g nk

~hXC
!
6g[] !
t
Z q
Z W < n
gzZgsq
ZZ
u kZ gzZ D Ztu n : {g
Z
q
q
Z ~ yZQX f
h
y
w x {gzZ ~
w x {gzZ ~
c } c_t q
{z
Z [ Z X
~7gzZ~g Zi !
w x {gzZkZ c
z=
b ?}g
H6Y /Z !
z Z Z= ~gz
g !
zg h
y
~{g !
z VrZgzZ
c

w x {gzZ ~
Z |
z
g Z Z qzg !
zg Z c
qz
Z ~ Z !
q
f Vzg Zh
y

_ W7
Z P U
Z x Hc_gzZ ~ Z
q
}uz
X N YG
c
VN U
Zq
q
Z Mz } hC

Z n
@
g !
zg Zg c_ & ~ g Zi !
Ug PU
Z }g
x
Z n wq ]gkZ ?- ]g g
~]g Zq
Bt ~ qzY
x Z%Z Y~g Zi !
VN U
Z:gzZN YGPU
Z:
Y !

wZ !
{gG yvZg ~zD
~ z ]g ` W6gm{ Bh
y

z q
Zz

www.ahnafmedia.com

wZ kZgzZ 7.
]ggzZ Z kZ
( 332m~g ~))X CW7xi~igzs
:*
~y
WQ
~^g7g KZ Cc
sZ7V!
7Z L L
/Z *
]|~ k Q Z
H m
?t !
z kZit

9
' Z \vZ ):X+g + -Z b ( ?]|gzZ jZ
Y% Sg.
^
Z ~{qb)>Qgz Z
? *
]|gzZ ( 122 m 7 ` ~z2 Z Z )
c
g Z

~ yZ c

s %Z V!
&X
r u Z Z
~)V V ~xs Z {z kZX 7
] !
t
c
gZ
i.
gzZ ^
YZ Y f V;z J
( 333m~g ~))
X

z , ZdSg ~ .
Z/g pA *

X C7;!
6
Vs Z {z
@

*
t ~ : WyZ D Z[.
Z/g pv -i
XBh
y

zkZ~]gZdgKZg.
Z {z
Z D Z ~ J g Z k0
q
LZ g !
Y v H -ii
C
hzz5 g '
Z' Y
Z ? Hu kZQX Zd q

Y kQX Z qzx T c
Z ~ .
Z/g p JBzg
Z
h
'
Bzg hzq
Z {z V 0
Y k !
H B ZdSg KZ
ph
y

{ {z u CZ f LZ J Y t V; X ,

www.ahnafmedia.com

: D h
y
Y !
{{zD
*

{zDq
nkZsY x ~V
X "
g pwtux ZX ,"
g p6gZJ
kZ [ sp~ VNU
Z ) ~g !
zg w ta gzZ
wZ [g s._ wZ {y Z$
n
tpwZZ[ !
f
g Z}uz
Z[ ZX 7"
g p
Bh
y

z kZp{z6, Z O&gzZ
? ]!
HwDZ~kZ
( 331m~g ~))
Z ^
Y*
6g Zig ZzZa-`"
U
-iii
X {Z
" ci ZZdgkZ
z
Z ~ ^g7g KZ ~} g !
g Zz Za - Cc
s Z
{^
Y kZ Hf~ w + Z LZ *

X `
Sg .
Z ~ {q b) >] !
t *
g
kZ H7s %ZkZ ( uZ Z) ~gzZ
c
g Z
^
Y%
:[Zz
X 7mig ZzZa-kZ -1
XTe*
"
U
*
ZkZ]!
> -2
Xt ]g >
& Z%g ZD
q
Z zg~gJ,n
LL

.
5 g
15 6

o b6kZgzZ ,h
y

J G

www.ahnafmedia.com

5.
Z ZZ
Zz9zgq
Z 6G
A kZgzZ

5.
Z Z Z9zgg ZD
k {z Let G
zz p
6T Y c
w~ J .
Z SL Lq
Z kZ }
'Yc
obVzg.
Z}uzZ

5. .
T n w Sg KZ z G
Z kZ
:tg &
nJ9zgq
Z }g Z ZZ
ZzKZ kZ L L
kZ c
Z {z Z
zg c
] Z 3gg
S 7 kZ Le *
Zrz A e *
Zr{
X} w.
Z
.
Z * q
Z : g5Z Z ~zb
7t
g Z .
Z kZ {z [ ZX }:Zzz Z rJ6T
g Zzg !
~.
ZkZZdT n Zd
X'
Z'

7Y Z ZZ
ZzBg {0
!
31 J
V g ] 5ZJ
c 31 bZ
St 6 5Z Z 7 ] 5 x c
( 123,122m 7` ~z2 ZZ )X Y.
Z

.
5 ._ ,kZ
gJg kZ sZ g G
5.[ Z X g @
Y Zd Zz Y s ~ .
Z kZ G
hgz
kZ ]!
t ZX [ Zzrgg kZ {z n g ZY
jg ZzZa- t ) T e *
"
U
*
Z
X ( M
ZdSg yzg.
ZM3/g p~

www.ahnafmedia.com

6:[ !

? H|v
X yZkZX ? ^
Y|
z
zh
y
iH L L
kZX {g YZ-QgzZ u5Z
zZ (n v )
Z5 w LZg tu ZZgzZg Zh
y

t
sz
i]Z eQX CY
~wyZV- gzZf

x 6tukZ ~ n VjgzZ ]`
Z @
Y H O
X @
Yc

tu q
ZC
gzZ D
X {g YZ 7-
u5Z
t bkZ
( 59mb)h
]
)
:i*
6
kZ
bg Z
{g YZ-6g~
-vt |p L L
v? Y Y H H Z ]6kZ ] !
+Z
kZJ
` W W,k

gz Z K Z6w
r
( u Z Z) ?]|QX c
7g Z
{g YZ
c

655 X
wEZ 'g Z~ }g !
kZ
t `p @
Y
kZ ~ x sp
Z L L
)-{zL L: c

667 2X {g YZ 7
Zn

www.ahnafmedia.com

Z6VVzyZX
{g YZ7y
( v
QgzZ u5Z
izZ L L: c

659 pX ~

Y PZ {g YZBh
y
c

669 gzZX
{g YZ( 346,347:m~g ~))
X @

t 0

ss %Z Vg ~g *

wDZ V | 7]!
~g7 DI Z B7gzZ 7 s %Z
:Ds
z c
fkZa*
pX
: V- ]g 55m
t `p
@Y (y)
kZ~ x sp
Z L L
X {g YZ 7 ( y )
n
: V- ]g 67m
X {g YZ7y
( v)-{zL L
: Zz ]g 59m
X {g YZ-QgzZ u5Z
zZ L L
: ]g 69m
{z |gp hy
tC
@
hy

vq
ZZ

g !
zg wkZ { z @
n{g YZBV.g v5w CZ
X , kZ Zz6
w kZgzZB]`
Z6
kZkZgzZ,

? {g YZnv

]p
*] *
6 {g YZ--v}g ;g
X W:~*
VY] !
~g

www.ahnafmedia.com

:W*

t {z ~f
r?]|] !
Zg L L
wz {Z 96kZ gzZ D ` yZI]
Z e kZ v
-yZBY n kZDZY {z D
& iVgzZ_S~ eg WgpX @
} g YZ
tu6gZZ vt {z C Zz ] !
g
] kZ ]
~g !
zg Vx
w/ x *
VyZ ~ yZ @
Y H VZ n
{Z 9yZ:gzZ D7xi 5v{zp D `gI]
Ze
0
g !
zg ~ wVz Y {z CY ~
I]
Z e sI]
Z e 6kZ ~ Vx X D
~ :
~ ) CY ~ 7{Z 96Y
z}uzI]Z e C 7{z ~ VgzZ CY
vI]Z e
Z%Z X @
q
~ sbVzg Z
VzI]Z eX CY~ { Z 9kZ we6gzz!x
( dZ *
) h Z r q
Z n ` v|g eg1
7~ VzI]Z e ZZ h Z r t X @
[ NZ
p /Z
h Zrp @
Y1C
!
@

r ~ VzI]Z e L%ZX @
Y I]Z e {
I]Z egzZ {z h Z rLgzZ @
Y c
h Z
I]
Z e, Z CY~,
~g Z)f zz! ~x v
7I]Z e w/ {Z 9{z Q gzZ @
Y I]Z e h Z

www.ahnafmedia.com

kZ
~){z~]gkZgzZ @
wzxi 5
g Z {Z 9pX QVzI]Z e x Lg 7g Z h :
D W~ x vx }g 0gh Z
gzZ 198 i eg WgOX D7z x v
:gt~200i
198. (2) The directors of every company
shall as from the date from w hic h it
commences business, or as from a date not
later than the fifteenth day after the date of
its incorporation, whichev er is earlier,
appoint any indiv idual to be the chief
executive of the company.
(3) The chief executive appointed as
aforesaid shall, unless he earlier resigns or
otherwise ceases to hold office, hold office
up to the first annual general meeting of the
company or, if a shorter period is fixed by
the directors as the time of his appointment,
for such period.
200. (2) The chief executive shall, if he
is not already a director of the company, be
deemed to be its director and be entitled to

www.ahnafmedia.com

all the rights and privileges, and subject to

all the liabilities, of that office.
(The Companies Ordinance, 1984, p130)

VzI]
Z e6
62
r u Z Z?]|
yt Zj^g7g: vq
Z~G @
xi 5
]|X ~ { Z 99 zg V h Z r kZ c

~VzI]
Z e y Q h Zr t kZ r
?
q D yZ v6g ZZ

x vg h Zr _ Yn6
zZ|
~ VzI]
Z e {z~ V ggzZ @
W~

@Y I]Z e {p / sgzZ
@Y 1C
!
@
7
DYW~ zvx }g ttX
t D
-Y P (Zt gzZ
kZ X ,x )g f yQg xi 5V B
ZX
@Y 7sp~} g YZ-
g Z } Zg Z
gZ
-~
x v} g YZ Zz B kZ
X 7
gg Z b
r
?]|KtD 6Q
^VY6g Z
o
O-

kZ
56g !
gg j )g f
kZ Y x Z

VzCZ~g !
zg kZY SgnnZgzZ
}uz~{ LZ q
C
~ o
Z
g

www.ahnafmedia.com

p ~} x ]!
t X @
bZ n
jZz { c
it
VnVz \vZgY gZ
: D
{z Hy
j n o ^] i ^ ^] n] ZZ
o ^ i ] ^ ] n o k ^ ] ]
^e^i ! oi j e ^%j]
^ ] ^ % j ] o % ^ ^ j m o a ( ]
!n^] m^rj] l^] o ^ xe] ^j] ]
D263 1t ^] o] ]E
: bkZs
zh
'
VrZ6}uzq
ZgzZ
^j] o % n ne V] ZZ
i ^i] o ] Vu^e ^j] oe^j] o
onf gf ^ ^ ne j
o ^ q ^ j m e i ( % ' ^
^ e ^ ^ e n ^ j m p ^ % j ] e ^ n ]
] n f o a ] ! r ^ j o j m
] m ^ ff ^ ( ] k n ( ^ ]
^ne ^j m ^n ^ pj] ^
^rje ^%j] j] o ^ne n
] ^ !|^ej] ^ v ^q
] (^ ] o |^e j ] ^%j] ^jm^ oj]
1 t ^] o] ]E XX!^] ] ^

www.ahnafmedia.com

( 351
@347:m~g ~)) D551

a gzZ g !
zg Z
I]
Z e v @
WC

t |pDy
Z
-
D Zt u
D!

kZ N Y 0
gZ o y
B kZ
X 7
g *
Y- y
kZ Q V
Zz gzZ "
U
i q
Z y
wt *
p
*
kZX g y
{z {WY { ZpQ Y
B t D
-Y P c
wVx9q
Z
g Z} Zg Z kZX ,x )g f yZgxi 5V
X
@Y7sp~} g YZ-

V- w$
wV
Zp7s %Z wVx9kZ
kZgzZ, x p{zB t D
-Y PY
g !
Q H B:)i Z {zt c

B{Z 96
X :!
@
Za W
@
zg !
y
wVC~g
:V- [|Zm{q
Z*
abZikZ
7{Z 96Y ]
Z e s]
Z e 6kZ~ Vx L L
C7{z~ VgzZ CY ~:
~) CY ~

Z %Z X @
q
~ s b Vzg Zz}uzI]
Z e
VzI]
Z eX CY~ { Z 9kZ we6gzz!x vI]
Ze
t X @
[NZ ( dZ*
)h Z rq
Za`v|g eg1

www.ahnafmedia.com

%Z' @
Y 1C
!
@
7 ~ Vz]Z e ZZ h Z r
h ZrLgzZ @
Yc
h Zr~Vz]Z e L
, Z CY~,
~g Z)f zz!~x vI]
Z egzZ {z
7I]Z e w/ { Z 9{zQgzZ @
Y I]
Z e h ZI]
Ze
7g Z h:kZ
~){z~]gkZgzZ @
wzxi 5
X
QVzI]
Z ex Lg

:t,kZfw) Z] !
6
zZ
nkZ ,Z
*gH{Z 9nq
y

X
*mgI
X ~1337{ C
e] &%] ^ ^] ne i oj] xe] u
^_ ^ ] u] ^_] o ^] ^i ]^ ^^ ] q
!^e ] i
gzZ Vr { :F)
~ yZBt Z6kZq

Z ZX o *

zb
yZ {)z a
( X CY!
A gZq

Z
: ~Cb
tm q] e o ] ^_] gqm ]a
^] ^u ^j] ]] ]] o n ^u o] ] ]
% a] ]j] ] _] ^ne ^jv] o ^ ve ^
tj ^_m xe] nq ]j] jm ^u xe]

www.ahnafmedia.com

_] oa ^] k^ &nu b] xj] o ^ ^f] ] ] o]

_fm ] ofm ^ ^] ^e _fi ] ] m ]
!D4 t 260 r] |E !^ ]
kZ ~ V got t zz !

:F)
nq
ZZ~g ZlZs YY g7

kZ~
g Z'
X ( *
i Z' g~ ]`
Z q
c
)

G
: ~g 5B+ Zg X Y mg ZzZa yiz n q
Z tn
9 zgg ZD
q
Z ~ nq
q
Z Z
ty g: !

Z Zg7 Wxi ZBzgg ZD

q
Zs~]gkZ o

*
q
Z x gzZX u
q
Y
Z
gzZ| Z ~k
;Z 6
{ c
n
n
7!
o @

77nZ Zt *
Y kZA
( X:!
Y!

op ~gzgzZ C
: ~g Ug
] _ f j e n ] o $ t ^ ] o ] e
f] h ] n tm ^ ] ^ ] ^u
! e o^f] ni ] t]] ] e
~q Z'
gz Z Zz}i
Z Z o
~g ZzZa ~
g Z'
:F)
c
g Zz Za (m{ c
HgHyiz m{q
Z g ZzZa nq
Z
E
!
% ` Zy
c
h
g Zl
LZ Zz

ot
( X Y!
g Z't~Vzg ZzZa

WW 6gz Z CY!
~% y
n

www.ahnafmedia.com

9g}uz nz-~ ]g+Z X CY {g0 o

c
{g YZy
O- J&

et i kZX } 7
*
XY
I]
Z e @
7t
zy
%Z
~T {z {z !

gzZ @
~ t X 7c
,x
X YotD
ot wZ6kZ 'g !
Z
{g ~[ ZkZ
yZY
{z~c
D Z w {ZpY
]a 7B{g Hf o~Vg
!] ^_] gqm
Vssz@
{f ~g g7]!
t Vnfi
~ X ]gzV gzZ Vf
Z6x yZ 7]gz
Y ]
4G
5
5F
]!
{et X f
{Z 9{zq
gzZ D g 0
E
X Y oQ {g YZt
~g Ug
] _ ^ u x e ] ^ a ] ] j ^ e i
!^] o xe] m ^
CY
o gaq
q
Z :F)
CY |
zz kZ o{z7zz kZ
( X
:vZg
)6
kZ
^ ] ^ l ^ ] ^ j ] n j ] ] p ]

www.ahnafmedia.com

^j
!^] o ] o xe]
CY Z

Y o~ p
Z :F)
w g ~ u5Z
gzZ
g (Z ]gu5Z
w u
( X @
( o )
@
zq
Z gzZ {z
]`
Z q
7~ kZgzZ
X

? ^
Y
]`
Z6
x
q
y
H

KZ *
6g [Z gzZ q
Zzz {f ~g
: c
ZC
] !
HnZ Zt 6kZ g Zz vh Z rt

Z L L
Zg ?*
]|6ZkZ pY0 7Z q

bo~T c

:q
Z mvZ G
*9g
r
7 ` ~z2 Z Z )X
c
g Z
^
Y
Zq

q ~g ~))X ( !Zj kZ V 328 @

321 m
X ( 348m
vZg r
Z g ?*
H7g6kZ *
p
} *
pgzZ wZ G ~ ~z2 Z Z [ Z
y
*
gzZ wZ
HX 7c

g _
[Z vZg r
Zg ?Z
~} g !
p
gZq

pX 7~q
y
@
~g Y nq
~ u5Z

X m:z*
] !
t~g k\Z

www.ahnafmedia.com

Zjt vZg
rZg ?~[ KZ
:? Zz6
gZq
p
u5Z
G
^ v q^ j ] oF^i ] u o v] ^ ] ^
D7 t (p^j] u] 321 E q] ^ne j
E
} 8
y Z }uz q
q
Z
Z c

vZg x Z :F)
A : ]`
Z }uz 3g6]`
Z n Y VZy xg
(X
^e ^ vn q^j] ] u o^n] ^] ^
nrj^e ^v] o q] q^j] q] grm &nu ]
^ n e j ^ v q q ^ j ] ^ n e ^ j ^
p ^j ] u ] E ^ a ] v m q ^ q ] g rm
D7 t 322
E
4%x Z :F)
5G
{z @
3g6]`
Z}uz q
Z vZg E
gz'
} y kZ VZ~ n kZ
0 w Z ]`

Zgz'
zz ]`
Z Zzi
ZY A : ]`
Z
VZ: WgzZX
uy xgVzgzZ
)Y C 7Z
Zz ]`
Z 6]`
Zq
a Y
Zz aLZ {z~ kZ Y VZ : Z q
(
( X

?-
vQH

KZgz Z 7 ] Z Z.
V!
+Z ~g *
p
kZ vZg ~ *
Sg
gzZ y
v6] !
kZ

www.ahnafmedia.com

gzZX
4Z~ y
vg Zbzg KZ L
L 1 u] !
q V ZjvZg Y gi *
Z
G@
kZ
X C-
tH ZBzga

0
~ kZ ] :SkZ C b zg y

Z~ v
D z kZ Xnx {)z 7q +Z bzgt X 'Y
{ *
v ]:Sy
gzZ ] :SkZ
v p yZ Wt ] :S vL L: zz ZgzZ
X 74Z~~x lZszc

y
v ~ ]!
kZ n }g zz !
{gn
]`
Z iI]Z ev}t CY {g]gQkZgzZ}
( W~ z u5Z
T ) D ZBzg n g !
zg 6
g !
zg ~ w kZ 6]`
Z }uz gzZ ,x 6]`
Z p {z @
X N Zz
f
g7g Z
I]Z e Y t +
Y *
6kZ
~ ]g LZ v
z kZ f
q]i YZ Kg Z
LZ v[ Z Z B
g z {e z VzI]Z e CY W~z
)c
Ch Z rc
CI]Z eh Z~iI]
Ze
q
y
f
:) iI]Z e vgzZ C
n kZX f

wZ v 7w
X
*x 6
]`
Z q
y
` } 633,34 b)h
]
[ KZ [Z kZ

www.ahnafmedia.com

{g !
z V kZ X H7 ] Z Z skZ *
p
: D
gt ]
n
wZ
z z C *
L L
X D Cg Zzxz z zg<[ Z
hZzVc
g Z)fgzZt BwZ
gz Z ( gz Z c
g)z
M
^t LZ:zzyY" c
~s{zpC
yZ c
q
Z n yZ ~ ]g+Z X M
Z Z Vc
g Z)f KZ: gzZ
yZX @
Zg7V-g Z)f yZgzZ @
Dt yZ @
YHgH
)fz t n kZ @
7m: kZa ]YX U
ZVzg Z Z
H[yZ s {g Z Z Ug6n kZ Y Y H7hZz kZV- g Z
X @
Y c
~s{g Z Zn kZgzZ @
Y
]Z kZgz Z ~g tu=z kZ (Z {g Z Z VgzZ
ZpZz c
Z !
{Z
]kZgzZ VhZz }g Z Z kZ
7~g6+Z~]gkZX VhZzBZpVc
g Z)fzt
z tgzZ ,g Z ,
}g Z Zi Z0
ZmZ yZ
! V-g Z)f z t ZX ,hZzB kZV-g Z)f
~M
7gz Z~ we w1 {
%Z ) X s
X ( M
svZi W

www.ahnafmedia.com

! Zy

~g Z)fz

7:[ !

W6Y o~g Z)fz~ ~g sZzz%L L[

: *
D
ZF
r u Z Z?*
]|}uz L L
o{g YZgzZ @
{g YZ-a ~ v c

C
wt 6
yZg ZzBvot n kZ
@Y
:D
( u Z Z) *
X } -G
Zz 6 {g YZ7y
( v)-{zQ L L
o
*
Ytt V ZzxZg Z X `
X g ZC7
o Y 1y {g Y Z- ( v ) Z
Z'
6}uz ~ + Co{ z C f bZ }o ~ -
Z pX
g
) CY po @
7 - Y
: vZ
o ] o m^] u] ^ ^e ]]
^] ne h^e ^jv] E ] _fm m ofq]

www.ahnafmedia.com

!D85 5 t
Z
z t b!
Y ~g Z)fzV'
uZZ?
Z ) c
6q
}uz q
q
Z ot 7m
zx t ;g 76Z`
( {g YZt w r

E
J
45"Z LZ sVzg Z
ZB yZ c
q
yZ q
Z n EG
vy- \ W~ ]g DZ- v
Z o
y- LZ J
u VN U
Z s\ W { c
i VN U
Z
E
J
"
45 Z Y 7Y # yZ kZ X wz
EG
g 6bZ g 76}uz q
Z +ot Z
E
G
CY!
p~ zg G
0;X]Zg !
{go+ZgzZ
^
Y*
~g Z )f zX @
7 - kZ p
ogzZ ^
Y*

*Z
ot 6VZgzZ yZt ~ ]g
~g ~))X YY7 -zz kZp
( 345,346m

~g X H 4Z zz x *
Zg *
~ c !
{g -i
:t ]g
{ c
i g Zl q i *
y
h
i o kZ L L
Y ^
Z
Y*
:g Z)f yvZ
Zi {z~]gyv
~z kZ Dg !
zg s kZ yZI]
Ze
)~g Z)fzgzZ g Z)f {z yv}g7 Zz
X Y7)Z ~'
{z=g fy

www.ahnafmedia.com

( 61mb)h
]
)
~uz q
Z m kZ ]g ~g *

y*{z CZ X H7f *
0 kZ X Z hB o
:
5X D~sf

*
+A~yZI]
Z ev

~ kZ
vZY
ZgzZ V_C~ + A ~ V|{z
gzZq
Z {z !
{g~i Z
g Zz~ yZh
y

i _C
yxggigz ZyZI]
Z ev {g YZ-t {zgzZ
q ht yZI]
Z evt oq
Z~kZ @
0

tX M
5Z Z 6
kZgzZM

6
Behalf v{ z
cZ Z s Wx&

gvgzZ~y] Zg (ZyZI]Z ea] !

vZ
Z Cg~Memorandum of association
gzZ @
y
h
DtokZ {z @
y
h

~yxg c
~ ZZi
X Z {g YZ-TZ s -~ota
: `g bkZ~yyZI]
Z evq
Z
The directors are empowered by the company`s
articles of association to borrow or raise money or
secure payment of any sum or sums of money for
the purpose of the company's business.....

qg (ZyZI]
Z e cZ Z s W<g W v:F)
Z g c
M
M

~g Zl{ g !
zg v{z
(X

www.ahnafmedia.com

: `gV-~x&

gvq
Z bkZ
To borrow money from time to time required for
any of the purpose of the company by receiving
advances or any sum or sums of money with or
without security upon such terms as the directors
may deem expedient..........
To issue or guarantee the issue of or the
payment of interest on the shares, debentures,
debenturestock or other security or obligation of this
company......

]gz z{ v g (Zy ZI]Z ev:F)

JgzZM
x g!{znkZX M
n
gg
6{ z'-
o{z M
n
6_ Zy Z J c
B
E
E
4? E
-F
&G F
-4G
&
( X M
} 6g Z ZZ
ZzgzZ vc
6 Z c
6u 6 e6i? E
e
6
x *
LZ {z f
n
Z
yZI]
Z et yokZ
vg Z)f 5Z Z gzZ 3Zz kZgzZ f
6x *
v f
7
gzZ yZI]
Z e ) Z
Z x Zz ~g t u~ vn
{z Z C
g tuC
[ ZX @
Y
tu yZ6( {)z igi
g Z)f 5Z Z 6kZgzZ 3Zz
g ( c
)tuLZ LZ
tuZig5Z Z gzZ3Zz
yvv
ZX @

5Z Z kZ Zz g v
ZgzZX CY~
X CY

www.ahnafmedia.com

CZ vZ
]g{zgzZ q
Z X ~ ]gh

t
~ig
~ kZgzZ} qg~Jt u
X}
:`ti*
p
Z
~g !
zg ~ b: +Z vh

LL
:C_C~g !
zg ~jzV|tX:_C
6 J n J(-V|tti
ti Zuz X C` x CZ n
kZgzZ g n

CZg ~ .
Z ~{z C g gzZZ
Zi k0
v
Z WyZ {z Cq J{z6kZgzZ
q
( 17m|
z
zh
y
i)X
@
z
g !
zg ~V W~z V|+Z[ Zf
y gzZ
X Z Q {zwqpV:_C~

z} :xZg Z~i Z|

z
zh
y

i
: qX
zg Z0
Y} :xZg Zp
kZgzZf h
2
~ x vC
t |L L
yZ @
f h
2
~ x VXQ X C 7o
~ Vgz yZ ZX @
7 LB
L 2
~

X @
f ~ VV; X 7o}u
g0
Zg x-ot 1 CY
0 op
Z~ ]gkZ
yZg x-gzZg x-Z v
c
C6
zZ 6Y
g !
o{zp D7o ~ .

www.ahnafmedia.com

X C
a] !p] p^j] D296/5 E ]] vf] o
XX^] ^e _fi l^] e^] ] o ]
h
n

Z~ x vi7 ]Z|yZ xZg Z

kZ
Z X C` x % n
v{z H C 7o kZgzZf
] 7v%n xc
szc
n

BkZpf h
n
Z
bZX{ ^
X
@Y7{ ^ ]:f
VZzxZg Z ` Zz 6 {g YZ7y
-{zQ
X g " C7 o
*
Ytt
( 67@
63 mb)h
]
)

www.ahnafmedia.com

8:[ !

s)
Z x (gZsZ)
ge yZ z {f *
x z%
z

6Z

X
gz ( 9zg ) ~ -1
} zZ KZ ) Y VZ p z G LZ Zz -2
X ( Yo q ZV"vgzZ Y
7zp
! z {z Y H{P qr z -3
X

y
s !
( q ZY Z ) {z k

*
a z -4
XaY ZL} Zz: La+Z

tq x F

6Z yZ

C-z q
Ztu LZ v( gZ sZ )
yv~X q yZMX-z zZ ~ _ Z-kZX
n{zy
s !
gzZ Y yv yZ ~ o-kZ Y
X aY ZL}aV
gZ q C
b {Pm{q
Z~kZa
M -z

www.ahnafmedia.com

X ._
@
gzZ
{z6
T
g,~sq
Zp-zt
X
@Y0 kZ{z{PkZ Zzh
0
gZZX
} P yZ {z Q g ~ yvV Zz h
0
X Qzz
g Z,kZ .__ Z-z C7n
: Cx bz vp
0
gZ Cx OZ -z b z {z -i
-gzZ Cug Z D
yv Vzg Z, Cwz} P V Zzh

X g]`
Z v6
]}
yZX B
g] !
{e
c
]`
!
Vz 6Vg ( }P)gzZ {z - z -ii
X g]`
Z c
zLZgzZ Cx 0[g p

,
x

:t{zN Wt ,
x ,!
{g
^
Z
Y6Y Zv c
6]Z f KZ sz ~ }Y Z! -1
Xa{ zy
s !

{P ._ Z z gzZ n xq
Z b {P z -2
}uzq
ZVzXnZuz!
*
Ig Z, yvZz
X 7n
viI]Z e vgzZ Vz vgzZ -z -3
X
)

!
,
Vtx
X Dy,}g} kZ

www.ahnafmedia.com

KZ c
6]Z f KZ s Z z Y Z!:
!

6
Y Zv c
6
zZ

VzhgzZVzZvZgx 0Zt ?q
Z !
kZ
:~}g !
zvZ-
!] nf o r] ] ]q ]] $
^q ^r ] ] ^nu ] ^ m ] o
n a^rm ] nf] ^r ^ jm
n f q x m n o e j m ] ] ] ]
!D6 t 219 m] xjE ! xm ] _fm om
Z Zxi Z zvZ-.

zZgzZ} hZ
Q :F)
g k0
LZkZ0

i KZ {z Hz} hBokZ
X 'gz~kZ
^
YakZt 3g k0
LZkZa p6kZ
Z -i
X} 6
kZp q hkZ A
} :ot{z
ZY
V CZ fv LZ} h{zt Z% Zz z
ZgzZ -ii
op 9z kZgzZ 7^
Ya kZt } wEZ ~
X ( xgzZ!
Z ~ {)z} hgz Z ~ }Y Z! Zz ! l !ZjkZ

N VZ {Z
kZY Zv c
zZ kZ c
p{zswzZ H bkZz
Z V; X 7^

Y]gt z~x (gzZ c

~ Y ZL{zy
s !
Q
} ^
YVZ {Z
"0g Z,q
ZgzZ} z~g ~{z
Hnz 0
} Qag o kZ z ~

www.ahnafmedia.com

V-
ZgzZ M
VZ kZ aY Z bY ZL Y
Yt a V Y ZLQ z a V Y Z sw k
^
X7
^
Y] !
kZi*
~x @'
] !
~g
{z,z bkZtu CZg tugzZI]
Z e v
gzZaY ZLL~QzaY Zasq
Z
X ?t{z6
kZ
] ^n ] ^] ]] n] o
m e] ^ ] e ^nu ] ^ f] ]
]] ] u e ^ xnv ] oF^i ] u
] o ^ ^fni pj] n m oe] e
$ k ^ o ^ j p r i o ] ^
^ ] ^ i ^ ] e ] p p o p e
!nj] ] o ] ^q n^] o o ]]
)) gzZ c
}i Z
~ {f :F)
{z {0

i {z J
Z
}ot gzZ } z ( !
vZg - 1Z g~ wEZ LZzq
Z kZ c
z
wmvZg - 1Z Y xgzZ 9z
gzZ'gg~zV @
~ :6ZgzZ Hg (Z
{0
i~J
Z
gzZ z}it ~ V-
Z
zZ zZgzZ zZ ~ }gzZ V WkZ~ V
z6W){zY~Z
QX J

X ( g,Z~nj] ] X ^
Y

www.ahnafmedia.com

ys !

gzZ6Y Z zZ !~ H ~ *

zbkZ]g qz}i!) ~?pz6

Y ZL
CEZz ~$
Zp ZGY!)t {zgzZ t
~Vzq
@
{ ~~ C7x Zzze
$
Z~Y Z!Z

}Y Z!vZ
g CY c
g Z
!
yv~g !
zg
{1 wEZ w: e M{)z z rgzZ @'
g D X q {z ,i Z {zX Tg 7 x }uz gzZ D Y
s~ Y Z ! ~a kZ X $
~ga gzZ $

v} ogz Z} z zZ ~{z yZ W e]g

zz g Z,oz c
VZ p{zBVzg Z,
X q
BVzg Z,}uz
Zi ZZ e[gzZvZ ?[xZg Z*

:HnZ Zt6]!
~g Z/
kZ H-q
Zz g ig~ qz L L
G3
kZ X z sgzZ E
Z z c
Zg-Z zt 6%
EG
4

E
G
q Z :gzZ D olZ Zz: Zz~
' rg q Z-kZz {z D o
T zu{z 7 z{z m {PJ
V
1 k

) X 7ztY CW7c lZ Zz ~
( 2m

G
E
G
E
c
g Z
^
Y*
+ g3. ZY Z Z~ 3Zz \ W L L

www.ahnafmedia.com

zz ^
Y*
kZZ
B7? kZp
( 1m 2k

)X CW7~
~ _ Zz ~ x g7] !
t 2L L
X Mc
"{z{ Zp Yg 7g{Y Z

fq
Z q
Z X G nZ Z &6V ] Z|z yZ
: [ Z kZ

nZ Z

~ x Y H Y" {z H{E
lZ Zz
X 7Co ( z6]Z f KZ ) lZZz

[Z

C o lZ Zz ~ x 7} t
z kZ Hf lZ Zz ~ Y Z!vgzZ ~ Q X
:tz
@
a VZzh
0
gZ izZ -z~ x (i)
z6] Z f KZQX @
aY ZLy
s !
gzZ Dg Z- gx
y
{z z6Y ZL [Z ~ Vz6Vzg Z- }uz c

lZ Zz X ^

Y
* V7 wgzZ Vza kZ
X
Wt i Z xY ZZzfi Zx
yvs 7olZ Zz ~ x M z!
(ii)
6k Z z *
p f yZMZz g D

www.ahnafmedia.com

Zz q
Z ~ yZ G fZ g e kZ ~ kZgzZ c
x Zz g D yv VrZ i Z kZgzZ Hfi Z lZ
~ Y Z!v z ~ 9
oZ X ^
Yza Y Z
Y*
^
z6Y Z i Z xkZgzZ H"
U
i Z xlZZz
X

nZZZuz

Y*
^
z6( + gY Z ) yZMg Z- Zz g D yv
X B7] Z|zyZ? kZq

[Z

gzZ V7 gzZ wY Z ZzgzZ lZ Zz Z

` f6
zZ ? i Z x lZ Zz~Y Z!vz ~
X ? }uz z ? q
Z

nZZZ

g Z- aV Zz g Dyv~ _ Zz~x
X YM{z7go

[Z

{ Y Z ~ _ Zz ~ x 7 ~ kZ
Zz h
0
gZ ~ Zz 7 ~ kZ p7g
MZz ZgZ kZh
y

g 5 }X @
"gz @
7M
X @
7

7n}uzq
Z yvgzZ {P:
!
~uz

www.ahnafmedia.com

gzZ Hf c kZ , ~ b) h
]
[ KZ
zwq-gzZn Zzh
0
gZB-z H"
U
:t?X
t |nck

igzZ7p Z @
g Z~ . -1
:
P q z {P= ? Hg0
{zgzZ z
Vz ~h z {P ZhgzZ Vz g ~~ ]g
X ( 117,116mb)h
]
)X Vz{ c
i z { c
i
]!
~g p
Z Z/Z i Z Z e [ gzZvZ ?[ p
:n
g ~g Yg ZZ6]!
KZp~7? s
]5 Z Z g Z KZ Vz VL L
7zzokZ {Z
yvyy {PY
G
E
4Zz{Z
EG
t kZ[ Z
0g -} {P-{z ;g
-!
AE
KZ ; g6
~:s )E
zz o
G
E
4ZzgzZX xY g Z|
g (Z ]!
kZEG
Vv{z:s zkZN ot ~z
7x wZ *
otaXVg-kZ
6gx 67 ? c
zz ^
Y*
Z n kZ
z-kZ ZD Yi -bkZ~V- g Z'Z

@Y c
y v{P @

z kZz-7
g I
yvy vQ gzZ
{P kZ y v
( 4m 1k

) D

www.ahnafmedia.com

{z mt
yxg-gzZ -V- g Z'J
V -1
X
V' @
7aVzg Z- { .Z -V- g Z'6gx -i
X @
ayZN YW~zg"
~X q c
a
{ c
i Z ug Z D

kZ } {P{ c
i A @
7t ~ -b!
ZZ -ii
{P{z~Zzp
Z Qgmq
ZC
c
g]gzq
ZC
A
X
hZz Y vBT @
-~ -iii
-b!
ZZ @'
kZX D Bzg0Vz c
0[g p{zY
X D7pp6"
g p}uz } P
Z
! } Z
q
ZC
N Z yg Z ~ b!
ZZ -iv
kZ
@Y~v X {Z
CZsg -z~
X ; gHVzuz C7nkZ
- b!
ZZ6i a} Z
KZ g Z- z Y Z
Z
X :
g {zGN`kZ 6
igzZ,

@Y c
y v{P @

z kZz- L
L It ] Z|yZ -2
t
Z D yvy vQgzZ
{P kZ y v
QX ~ ? {6
zZ ~g [ Z kZ D
z ] Z|
X DZzh
'
[ Z
:i*

j m ] ^ e jm m n ] ]

www.ahnafmedia.com

!^m ^%jm ]]
,~sKZpkZX @
7 -z :F)
X ( @
gz Z
{z=g fT C

v{P
Z w
r Z/Z i Z *
gz Z
rvZ ?
-t D y v{ z Q gzZ
kZ {z gz Z @
Y c
y
gzZ
g Z)fgzZ gz Z
~ ] Z|t X
z
kZ -zgzZ {P-z yy {PZ
QX
&
Y ) @
y v6
} P -zgz Z @
Y0
t ( } y vZ { z } {P kZt o-z
z -(q
Z Z
X q
Z |Vzgz Z Zz -
X z -(~uz
gzZ @
Y0 B Dz-gzZ
$ gzZ X @
4E
sZ)VZy
E
0G
Y 0 ( Z ) g zz D)
X ~gZ

*
[gppgzZ*
wZ[gpv:
!
~

a kZ 7^
Yt [g pgzZ wZ [g q
Za -1
Z/Z i Z Z egzZ
rvZ ?6kZX 0

!
kZ
X ~[ Z
r
gzZwZ[g pv kZ mwkZJ
VL L
w7 -z~]gkZ 7
gt k
[g pp
X
C [g p vgzZ @
wZ [g {z

www.ahnafmedia.com

( 6m 1k

gzZ -z w ]Z|yZY 7 ] !
~g
$
Y V-g Z)f z t p
Z sT v
Dt X @
yY" Z @
~g ZgzZ ~sp{zp
kZ a ]5gzZ 5Z Z V- g Z )f gzZ
\I
EE
B
}uz p v~|Z C]gz
mZ M
0 iI]
Z e Vz yZ X $
0 7 -z
}uzgzZwZ[g q
ZZ
iI]
Z e {z[ ZX
wZ [g p {z |g p{z VzgzZ D [g p
Vzzz VzYX
[g ppgzZ

6"
g pgzZ 6"
g pBzg V- gzZ p{z E
O.!
Zg akZ @
Yc
vgx iI]Z e yZva gzZX f

X [g ppgzZ wZ[g pvV

g It
: wi*

o ^]] o e^ nj ^ ^ ]a^]
] ] q^jm ] ] ^ ]^q] ^] ^ u] k
p^j]E m] %] q] o mm ^e e %] q^e
o ] ] e^] n ^i ] n D421 2 t m]
!u]e ^]
kZgzZ -z ~
zq
Z vtC
:F)
*
z Y Y' 7 kZ [g p~ wZZ

www.ahnafmedia.com

6t ZnZ

Zi kZ c
]`
Zp}i z {z c
C^
Ya
~xY =kZp
Z YYHk"
g p6
kZX
( X B7
:6] !
kZ *

h
6]`
Z}iza*
Y g] !
tL L
~VzyZy
WX 7i Z
[g p*
gzZ i Z
X 3gt
C
Y A
t

6]`
Z {zp
Z Zg Z zt t
{zgzZ
c
*
Z bZ X C ]`

Z kZ A
: a
p 7{g YZ6jszc{zp
Z 6]`
ZpZg Z z
~i W c
~ "
g pX c
{g YZ Zi WkZzz Z
Zz ]`
Z
]
h
) X
7e
*k6{g YZ"
g pa kZ k
7]g
( 129,128mb)
Z/Z i Z *
gzZ r
vZ ?~ [ Z ] !
kZ ~g
: '!
zr

]!
kZ sz x ZY 9] !
tL L -i
6"
g pz w }6]`
Z z w {z ~ ]i YZ
X 7wIp7w]i YZ

gz Z VY i Z}g YZ Y y
W g] !

0 7? i Z *
: w I?: VY i Z "
g p
X$

www.ahnafmedia.com

T7
g
*k6
{g YZ"
g p It \W L L -ii
pz c
Y`
L
L
yt \ Wzz
@
7(Z~"
g pZ
C7]`
Z 6]`
Z
g pZ
"
@
7yvz~]`
Zt q T
X Yyv~
zyv~]g"
g pp p .
p
Z tt
: c
*
[g pV Lg ~]gkZ wZ
kZ 2 c
g Z
^
Y Z x ZY kZqgzZ
WVz {g YZgzZ "
g pYkZ
ZA
:60
Z ze g V @
{Z
z X Zg f
e R q ] z Y Z z V;z
b6tZ7ZV, q+Z]kZ
c zZ
S
zg$
w 6"
g p~ ]g+Z Bzg : e
!n^] o a ^X R zZ
^ ] n ] ^ q v f ] o D ] e ^ f m
q njn m mjm ^ rm ]] ]] o^] m
n ^] e^] ^ ] n ^ ] h^m q ]
!] e xe ^n e^] ^e o] ]] n
D5 1 mvi (487 4tE

[Z NZVp Z}gt
p
Z
X ] Z|zyZ

www.ahnafmedia.com

N ogzZ t z {z @
YHgHakZ c
*
z
g pc
"
{g YZ}uz {zZ
Y
z kZ {zwN 9gzZXnw
c
n{z ^zg 6[g p c
zz kZY} 6
`
X : yvzgzZ} :
c
*
Z ZX g ]`

Z ~ kZ c
Wt ~ {g YZQ
Y c
Z6 ]`
Z kZ 6{g YZ pq z
6c
[g pt X 7g gz Z (Z~ "
g pX Y
Z X 3 y v c

3 j c
} x j 9{ z
Zgz Z @

9gx x spb 7 kZ {ew Z [g

gz Z : sp b 7 kZ w Z [ggz Z z p[g p
~, Z X
gz Z ~ V Z Y~ Sa
Y 7^
Y
[g p~ w z z *
z6g Z
XY
~ kZY CC
] !
Zj

Y} 6"
g pkZ w d{z 0
Zz x 6"
g p
Z
X sp b 7[g pY