AssetPlex Limited was previously known as BankIslami Modaraba Investments Limited (BIMIL), which was originally incorporated as JS Finance Limited during Jan, 1986.
JS Finance obtained the registration as a Modaraba Management Company during March 1986. The prominent shareholders of JS Finance included the DCD Investments of UK and Jahangir Sidfiqui & Co (JS&Co).
In Jul 2007, BankIslami Pakistan Limited (BPL) acquired 100% shareholding of JS Finance. BPL itself was a joint venture between Dubai Bank, DCD Group of UK and JS&Co of Pakistan. After this acquisition, the management company was renamed as BankIslami Modaraba Investments Limited (BIMIL).
In May 2021, BIMIL was acquired by the two new prominent sponsors, one representing Pakistan's largest producers of Medical & Industrial Gases and Glass Tubes & Ampoules, while the other having a diverse history of financial deal-making and equity capital mobilization.
With a deep faith in the benefits of equitable and participative nature of Modarabas, both the sponsors have joined hands to provide a new foundational underpinnings for the promotion of alternative finance in the country.