In a statement, the forum urged Muslims "to wait and watch" without drawing premature conclusions.
"Change is a law of life and Muslims should be patient and learn to accept it," it said.
It also welcomed Modi's initiative of inviting SAARC head of states to his swearing in ceremony.
"If Modi, who now heads the Government, works for ushering peace in the subcontinent and is ready to continue with all the ongoing welfare schemes for minorities then Muslims should respond positively to his initiatives," FMSA said in a statement issued by its secretary Jasim Mohammad.
It may be interesting to point out that the FMSA and it's members had supported Congress in the recent Parliamentary polls.
Jasim later told newspersons, "Congress did try to work for minorities but it failed to implement most of its commitments made to the Muslims after the findings of the Justice Sachchar Report."
Despite repeated attempts, no effort was made to monitor the progress of various minority welfare schemes, he said.