SECP notifies adoption of IFRS standards for sustainability disclosure
The Securities and Exchange Commission of Pakistan (SECP) has notified the adoption of IFRS Sustainability Disclosure Standards in a phase-wise manner in Pakistan. The IFRS-S1, ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS-S2, ‘Climate-related Disclosures’, are issued by the International Sustainability Standards Board (ISSB) and recommended for adoption in Pakistan by the Institute of Chartered Accountants of Pakistan (ICAP).
Adil Aziz
SBP launches new version of eCIB System
The State Bank of Pakistan (SBP), announced the launch of the new eCIB System (V2), an advanced version of its Electronic Credit Information Bureau (eCIB) system that will be in operation with advent of the new year.
Mehfooz
State Bank of Pakistan cuts interest rate by 2% to 13%
The central bank of Pakistan has reduced its key policy rate by 200 basis points, bringing it down to 13%. This marks the fifth consecutive rate cut since June, driven by ongoing efforts to stimulate the economy amid easing inflation.
InfraZamin Pakistan, Saudi Pak Industrial and Agricultural Investment Co Ltd sign 11.5-years Renewable Energy Financing Facility to Acumen Energy of PKR 1.28 billion
InfraZamin Pakistan and Saudi Pak Industrial and Agricultural Investment Co Ltd signed a landmark transaction to provide an 11.5-year Distributed Solar Financing Facility to Acumen Energy Limited (Acumen) for PKR 1.28 billion. The Facility will be backed by a PKR 1.04bn credit guarantee to Saudi Pak and will mark InfraZamin’s first foray into renewable energy….
SECP Hosts Second Conference on International Islamic Capital Market in Karachi
The Securities and Exchange Commission of Pakistan (SECP), in collaboration with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Development Bank Institute (IsDBI) on Wednesday organized the Second International Islamic Capital Market Conference. The event, held in Karachi, themed, “From Tech Transformation to Realizing Sustainability: Building an Islamic Capital Market….
Worker Remittances to Pakistan Surge 33.6%, Hitting $14.8 Billion in Just Five Months
The workers’ remittances increased by 33.6 percent during the first five months of the current fiscal year as compared to the corresponding period of last year, according to latest data of State Bank of Pakistan. The remittances reached to US$ 14.8 billion during July-November 2024-25 as against the remittances of US$ 11.1 billion received during…
SECP approved Strategic Action Plan 2024-2026 for development of Islamic finance in non-bank financial sector
The Securities and Exchange Commission of Pakistan (SECP) has approved a Strategic Action Plan 2024-2026 to facilitate the growth and development of Islamic finance in non-bank financial sectors. The plan was prepared by the SECP’s apex committee chaired by Mujtaba Ahmed Lodhi, Commissioner-SCD, established in 2023 with representation from the Pakistan Stock Exchange (PSX), Central…
Finance Minister Introduces SECP’s ESG Portal to Enhance Corporate Sustainability
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, officially launched ESG Sustain, a centralized online sustainability portal developed by the Securities and Exchange Commission of Pakistan (SECP) in collaboration with UN Women Pakistan in Islamabad. The launch of ESG Sustain marks a significant milestone under SECP’s ESG Roadmap aimed towards advancing sustainable practices across…
Beware! SECP Issues Warning on ‘IGIL Securities’ Fraudulent Activities
The Securities and Exchange Commission of Pakistan (SECP) has identified another illegal trading platform operating under the name “IGIL Securities”.
Editor
New SBP Regulations for Profit Sharing on Islamic Banking Savings
The State Bank of Pakistan (SBP), revised the instructions for profit and loss distribution and pool management for Islamic Banking Institutions (IBIs) which now are required to pay profit on their PKR saving deposits equivalent to at least 75 percent of the weighted average gross yield of all pools of an IBI.