UDL International Limited

What UDL International Limited does

UDL International Limited is a Karachi-headquartered, Pakistan Stock Exchange-listed holding company (scrip symbol UDLI) that operates as the listed vehicle for one branch of the UDL Group, a family-owned business with origins dating to 1887 as distributors of W.D & H.O. Wills cigarettes in undivided India. The company was incorporated on May 19, 2022, and became the surviving entity after the April 23, 2024 merger with First UDL Modaraba (itself listed on the PSX since 1991), consolidating the family's listed financial services interest under a single public limited company.

Its principal line of business, as stated by the company, is to provide services legally permissible and to trade in products permissible under applicable law, with a stated focus on Islamic Financial Services delivered through its wholly-owned operating subsidiary, UDL Financial Services Limited. The wider group perimeter also includes associated companies in pharmaceuticals (UDL Pharmaceuticals Pakistan (Pvt.) Limited), trading (SASL Trading (Pvt.) Limited), and ventures (EAM Ventures (Pvt.) Limited), and the company has publicly disclosed plans to expand into the FMCG, skin care, and food sectors under 'unique brands' emphasizing quality and excellence. Headcount is small (11–50 employees), and no productized technology stack, AI/ML capability, app, or API has been disclosed; the banking panel spans both conventional (Habib Bank, Askari Bank, Silk Bank) and Islamic (Dubai Islamic Bank, Bank Islami Pakistan, Al Baraka Bank) institutions, consistent with the Sharia-compliant service focus.

Revenue mechanics, pricing, and customer concentration are not disclosed in publicly available materials; the company does not report ARR or top-line figures in the source data, and there are no named end-customer logos. Governance is run by a board led by Chairman Majid Hasan and CEO Shuja Malik, with independent and non-executive directors, an audit committee chaired by independent director Rahaila Izzet Aleem, and a professional services stack headed by Grant Thornton Anjum Rahman as auditors, Khalid Anwer and Co. as legal advisor, and Baker Tilly Mehmood Idrees Qamar as tax advisor.

Name

UDL International Limited

Legal name

UDL International Limited

Website

https://udl.com.pk

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

UDL International Limited is a Karachi-based, Pakistan Stock Exchange-listed holding company (UDLI) that delivers Islamic Financial Services via its subsidiary UDL Financial Services Limited and is planning to expand into FMCG, skin care, and food sectors.

Ownership category

akta.pro rank

Product category

Islamic Financial Services

NAICS

Offices of Other Holding Companies (551112), All Other Business Support Services (561499)

SIC

Finance Services (6199)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Islamic financial services
• Sharia-compliant finance
• Holding company operations
• Modaraba services
• FMCG trading

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Financial Services Revenue: The company's principal line of business is to provide services legally permissible and also trading in products as permissible under Law. The Company is focused on Islamic Financial Services through its subsidiary, UDL Financial Services Limited.

Core offering

UDL International Limited operates as a holding entity that provides services legally permissible under applicable law and engages in trading of products as permissible under law. Its principal operating activity is Islamic Financial Services, delivered through its wholly-owned subsidiary UDL Financial Services Limited, offering Sharia-compliant financial offerings to customers. The company also plans to expand into the FMCG, skin care, and food sectors with new branded products.

Product overview

UDL International Limited is a Pakistan Stock Exchange-listed company (Scrip Symbol: UDLI) that operates as a diversified business entity. The company's principal line of business is providing services legally permissible and trading in products permissible under law. The core current offering is Islamic Financial Services through its subsidiary UDL Financial Services Limited, complemented by associated companies in pharmaceuticals (UDL Pharmaceuticals Pakistan), trading (SASL Trading), and venture businesses (EAM Ventures). The company is planning to expand its horizons by venturing into the FMCG market, skin care, and food sectors with planned unique brands.

Differentiator

Problem solved

Functional benefit

Products and services

• Islamic Financial Services Sharia-compliant financial services provided to customers through UDL Financial Services Limited, the company's wholly-owned subsidiary. Services are offered in accordance with Islamic financial principles and applicable Pakistani law.

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

14 partnerships are on record, tiered core and minor.

• Grant Thornton Anjum RahmancoreOthersAppointed as external auditors of UDL International Limited. Chartered Accountants firm providing independent audit services.
• Habib Bank LimitedcoreOthersOne of the company's bankers providing banking services and financial infrastructure.
• Askari Bank LimitedcoreOthersOne of the company's bankers providing banking services and financial infrastructure.
• Dubai Islamic BankcoreOthersIslamic banking partner aligned with the company's focus on Islamic Financial Services.
• Bank Islami Pakistan LimitedcoreOthersIslamic banking partner aligned with the company's focus on Islamic Financial Services.
• Al Baraka BankcoreOthersIslamic banking partner aligned with the company's focus on Islamic Financial Services.
• Silk BankcoreOthersOne of the company's bankers providing banking services and financial infrastructure.
• Khalid Anwer and Co.coreOthersAppointed as legal advisor providing legal counsel and services from their office at 153-K, Sufi Street, Block 2 PECHS, Karachi.
• Baker Tilly Mehmood Idrees QamarcoreOthersAppointed as tax advisor providing tax advisory and consultancy services from their office at 4th Floor, Central Hotel Building, Civil Lines, Mereweather Road, Karachi.
• CDC Share Registrar Services LimitedcoreOthersAppointed as share registrar providing share registration and transfer services from CDC House, 99-B, Block 'B', S.M.C.H.S. Main Shahra-e-Faisal, Karachi.
• UDL Financial Services LimitedcoreOthersSubsidiary company through which the company focuses on Islamic Financial Services. This is the primary subsidiary driving the company's financial services business.
• UDL Pharmaceuticals Pakistan (Pvt.) LimitedminorOthersAssociated company in the UDL Group network.
• SASL Trading (Pvt.) LimitedminorOthersAssociated company in the UDL Group network.
• EAM Ventures (Pvt.) LimitedminorOthersAssociated company in the UDL Group network.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Meezan Bank: Pakistan's largest dedicated Islamic bank offering Shariah-compliant financing, transaction banking, and advisory services. Directly comparable as the benchmark Islamic financial services operator in the same geography and product set UDL's subsidiary targets.
• Al Baraka Bank (Pakistan): Pakistan-licensed Islamic bank under the Al Baraka Banking Group providing Shariah-compliant financing and advisory. Listed as a UDL banker and competes in the same Shariah-compliant product set.
• BankIslami Pakistan: Full-service Islamic bank in Pakistan providing Shariah-compliant financing products and transaction banking. Already named as a UDL banker, and a direct peer in the Islamic finance segment.
• First Dawood Investment Bank: Pakistan-listed Islamic investment banking and modaraba operator. Closely comparable as a small PSX-listed entity originating from the modaraba structure with Islamic financial services focus.
• Dubai Islamic Bank Pakistan: Pakistani subsidiary of Dubai Islamic Bank offering Islamic banking, financing, and trade services. Listed as a UDL banking partner and a directly comparable Islamic finance operator.
• B.R.R. Investment Modaraba: Pakistan-listed modaraba providing Shariah-compliant investment and financing services. Comparable given UDL's modaraba heritage and shared Islamic finance operating model.

Broad incumbents

• Habib Metropolitan Bank: Pakistan-listed commercial bank with Islamic banking window. Comparable as a PSX-listed financial institution providing banking infrastructure (Habib Bank Limited is a UDL banker) and competing broadly in the same Pakistan financial services market.

Regional players

• Saudi Pak Industrial and Agricultural Investment Company: Pakistan-listed investment company with Shariah-compliant financing activities. Comparable as a small PSX-listed entity operating in Islamic investment and financing, with similar governance and disclosure profile.
• IGI Holdings: Pakistan-listed holding company with interests in insurance, financial services, and consumer businesses. Comparable as a small-cap PSX-listed holding company executing a diversified services and consumer strategy.

Emerging players

• Pak-Qatar Family Takaful: Shariah-compliant family takaful (Islamic insurance) operator in Pakistan. Comparable as a Pakistan-listed Shariah-compliant financial services company with similar regulatory and investor base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/udl-pharmaceuticals-a-division-of-first-udl-modarba-

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about UDL International Limited