SECP issues advertisements, call centre management guidelines for digital lenders
The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to NBFCs involved in digital lending to ensure best practices in advertisements and call centre management. The guidelines were designed to prioritize borrower protection and to prevent deceptive marketing and unethical call centre practices.
Mehfooz
PSX lists Mahaana Islamic index exchange traded fund
Pakistan Stock Exchange has listed the Mahaana Islamic Index Exchange Traded Fund (MIIETF) managed by Mahaana Wealth Limited (MWL). The commencement of trading of units of MIIETF has taken place with effect from March 11, 2024. The ETF aims to track the performance of Mahaana Islamic Index (MII30) whereby the Index shall be periodically rebalanced and reconstituted in order to provide long term appreciation and dividend yield to investors. The Index is designed to measure the performance of top 30 Shariah compliant companies selected from KMI All share index constituents based on the free float market capitalization, having at least average daily value traded of PKR. 10 million in last 12 months.
SECP notifies amendments to Corporate Restructuring Companies Rules, 2019
The Securities and Exchange Commission of Pakistan (SECP), under the auspices of the federal government, has notified amendments to the Corporate Restructuring Companies Rules, 2019. The amendments made in light of promulgation of the Corporate Restructuring Companies Act, 2021, are aimed at fostering conducive environment for Corporate Restructuring Companies (CRCs). Corporate Restructuring companies specialize in acquiring nonperforming assets (NPA) from distressed financial institutions, leveraging their expertise to efficiently manage and recover these NPA assets.
Adil Aziz
SECP taking action against criminals involved in stock market manipulation
The Securities and Exchange Commission of Pakistan (SECP) has filed four criminal complaints against individuals involved in manipulating stock prices, including sponsors and brokerage house management. The Court has admitted all four complaints filed by SECP against the accused individuals.
SECP registered 2,651 new companies in Jan 2024
The Securities and Exchange Commission of Pakistan (SECP) has registered 2,651 new companies in January 2024, showing an increase of 10 percent compared to the corresponding period last year.
Editor
SECP continues crack down against illegal personal loan apps
The Securities and Exchange Commission of Pakistan (SECP) is constantly monitoring social media and websites for illegal personal loan Apps (illegal apps) in order to safeguard the public from illicit loan sharks.
SECP prescribes fit, proper criteria for key corporate executives
The Securities and Exchange Commission of Pakistan (SECP) has prescribed fit and proper criteria for key executives of corporate restructuring Companies.
SECP issues Islamic finance bulletin for 2022-23
The Securities and Exchange Commission of Pakistan has issued its first ‘Islamic Finance Bulletin’ for the financial year 2022-23, aimed at providing up-to-date data, insights into new developments, and a deeper understanding of regulatory reforms in the Islamic financial services industry.
SECP proposes anti-harassment measures for listed companies
In a bid to promote safety and respect in the workplace, the Securities and Exchange Commission of Pakistan (SECP) has issued draft amendments to the Listed Companies (Code of Corporate Governance) Regulations, 2019 for public consultation.
Public Sector Insurance Companies in Pakistan: A Tale of Resilience and Growth
Dr. Ejaz informed the meeting that Pakistan’s public-sector insurance companies, namely, State Life Insurance Company, National Insurance Company and Pakistan Reinsurance Company, have been an engine of growth for the performance of insurance industry in Pakistan.