First Paramount Modaraba launches wholly-owned UK subsidiary

By MG News | January 19, 2024 at 04:44 PM GMT+05:00

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January 19, 2024 (MLN): First Paramount Modaraba (PSX: FPRM) has successfully established its wholly-owned subsidiary, Paramount Compliance (Private) Limited, in the United Kingdom (UK), a notice issued by the company to PSX revealed today.

This move aims to enhance and expand the operations of FPRM in the areas of Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) business.

First Paramount Modaraba, by 100% holding in Paramount Compliance (Private) Limited, is the ultimate parent company of that UK-based company.

It is crucial to recall that on January 12, the Board of Directors (BoD) of the company made the decision to establish the subsidiary.

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