First Paramount Modaraba Successfully Launches Wholly-Owned UK Subsidiary

In a recent disclosure to the Pakistan Stock Exchange (PSX), First Paramount Modaraba (PSX: FPRM) has announced the successful establishment of its wholly-owned subsidiary, Paramount Compliance (Private) Limited, in the United Kingdom (UK).

The strategic move is designed to bolster and broaden First Paramount Modaraba's (FPRM) operations, with a specific focus on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) business.

By holding a 100% stake in Paramount Compliance (Private) Limited, First Paramount Modaraba solidifies its position as the ultimate parent company of this newly established UK-based entity.

This significant development follows the Board of Directors' (BoD) decision on January 12 to create the subsidiary, emphasizing the company's commitment to advancing its presence in key areas of financial compliance and security.