SECP registers 2,095 companies in December
The Securities and Exchange Commission of Pakistan registered some 2,095 new companies in December 2023, bringing the total number to 209,604. The total capitalization for the newly incorporated companies is Rs 2.6 billion. Around 57% of Pakistani companies are private limited companies, with 41% being single member companies. The remaining 2% are public unlisted companies,…
Mehfooz
SECP organizes financial reporting workshop on capital markets
The Securities and Exchange Commission of Pakistan hosted a financial reporting workshop for journalists to elaborate on various factors and elements that can impact performance and cause volatility in the equities market.
Editor
SECP warns public against illegal investment schemes of Prime Zone
The Securities and Exchange Commission of Pakistan has observed that M/s Prime Zone and its owner, Mr. Imran Butt, are involved in offering illegal deposit and investment schemes to the public by promising unrealistic monthly returns in the name of LPG trading.
Adil Aziz
SECP’s ‘International InsureImpact Conference 2023’ concludes
The Securities and Exchange Commission of Pakistan hosted the International InsureImpact Conference 2023 on December 13-14. On the conference’s second day, prominent experts and professionals from the insurance and financial sectors discussed crucial issues within the insurance industry to outline a strategic roadmap for the future trajectory of the country’s insurance sector.
Govt wants to transformation in the Insurance sector:Dr Shamshad Akhtar
Federal Minister for Finance, Revenue, and Economic Affairs, Dr Shamshad Akhtar said Pakistan needs significant transformation in the insurance industry to address its fundamental challenges while catching up with global trends to maximize the value proposition of this industry.
SECP to unveil 5-year strategic plan in InsureImpact Conference
The Securities and Exchange Commission of Pakistan will be hosting the International InsureImpact Conference 2023 in Karachi on December 13 and 14, 2023. The broad theme underpinning the conference is “Journey to an Insured Pakistan.” The Federal Minister of Finance and Revenue, Dr. Shamshad Akhtar, will kick off the two-day conference.
First Ijarah Sukuk Auction at PSX results in resounding success
The first primary market auction of the government of Pakistan one-year Ijarah Sukuk at Pakistan Stock Exchange (PSX) has resulted in a resounding success, the Stock exchange said in a statement.
SECP to releasing International Financial Reporting Standard for insurance industry
The Securities and Exchange Commission of Pakistan has notified the adoption of the International Financial Reporting Standard (IFRS) 17 – Insurance Contracts – for the companies engaged in insurance/Takaful and re-insurance/re-Takaful business.
SECP releases annual report of the FY Year 2023-24
The Securities and Exchange Commission of Pakistan has released its annual report for fiscal year 2022-23, which details its accomplishments and financial accounts. Chairman, Akif Saeed expressed satisfaction with the SECP’s focus on fostering capital formation, simplifying procedures, robust enforcement and facilitative measures aimed at ease of doing business in Pakistan.
SECP & AAOIFI to establish an Islamic finance research & development Centre
The Securities and Exchange Commission of Pakistan and
Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) have joined hands to establish a Joint Research and Development Centre (JRDC) to foster growth in Islamic
finance.