DNA KARACHI – Banks’ holding in government securities reached Rs7.2 trillion as of end-June 2016, representing more than 90 percent share in total investments. According to State Bank of Pakistan (SBP), banks continued to heavily invest in government papers due to growing stock of government securities during the second quarter (April-June) of this calendar year […]

ISLAMABAD – The Securities and Exchange Commission of Pakistan (SECP) has registered 386 new companies during the month of July 2016. Around 85 percent of them have been registered as private limited companies, while around 12 percent were registered as single member companies.Three percent were registered as public unlisted, non-profit associations and foreign companies. The […]

KARACHI: State Bank of Pakistan (SBP) has been receiving complaints from various quarters regarding discrimination by banks on the basis of high-risk category of customers including their status as politically exposed persons (PEPs). Special Unit in Consumer Protection Department (CPD) of SBP has been created for handling grievances against such discriminatory practices. This Unit will […]

ISLAMABAD:  The World Bank (WB) has sent an Integrity Mission to probe alleged fraudulent practices in the Pakistan Poverty Alleviation Fund (PPAF), scrutinising records besides interviewing the senior officer-bearer of the body including Group Head of Financial Services Group Yasir Ashfaq, revealed officials privy to the developments. The mission, which arrived in Islamabad last month, […]

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) will make the book-building process more efficient and transparent in consultation with the stakeholders, the commission’s newly appointed chairman said on Tuesday, stressing for a reforms agenda in the capital markets. Addressing SECP officers, Zafarul Haq Hijazi said, “We need to bring the IPO [initial public […]

ISLAMABAD: The Securities and Exchange Commission of Pakistan has accorded its approval to “Rule Book” for the Karachi Stock Exchange Limited. The “Rule Book” was approved in terms of Section 34(1) of 1969 the Securities and Exchange Ordinance, said a statement here on Thursday. This is a landmark achievement and a significant step towards improving […]