PSX marks launch of JS Global Banking sector ETF with a gong ceremony
A gong ceremony was held at the Pakistan Stock Exchange (PSX) to formally launch and celebrate the listing of the JS Global Banking Sector Exchange Traded Fund (JSGBETF). The commencement of trading of units of JSGBETF took place on September 11, 2023, this is the first ETF to be launched by a brokerage house in…
Adil Aziz
SECP registered 2,847 new companies in the month of August 2023
The Securities and Exchange Commission of Pakistan (SECP) registered 2,847 new companies in the month of August 2023, taking the total number of registered companies in the country to 200,629. The incorporations recorded 20.6% increase as compared to the same period last year and 99.7% were registered online. The total capitalization of these companies was…
PSX wins ‘Best Islamic Stock Exchange Award’ for third consecutive year
The Pakistan Stock Exchange (PSX) has been awarded the ‘Best Islamic Stock Exchange Award 2023’ by Global Islamic Finance Awards (GIFA). “This is the third consecutive year in which PSX is being awarded this prestigious accolade,” a PSX press release said. GIFA is an internationally acclaimed platform recognizing excellence in banking and finance in the…
SECP issues Shariah Compliance Certificate to a startup
The Securities and Exchange Commission of Pakistan (SECP) has issued a Shariah compliance certificate to a licensed non-banking finance company (NBFC) offering Buy Now Pay Later (BNPL) services on the Shariah principle of Musawamah, whereby profit margin is included in the sale price of the commodity. The certificate has been granted to Qist Bazaar (Private)…
SECP holds a roundtable on strategic direction of insurance sector of Pakistan
The Security and Exchange Commission of Pakistan (SECP) organized a roundtable to firm up the strategic direction of the Insurance Sector of Pakistan with the chairpersons of the boards and chief executive officers (CEOs) of all insurance companies. The session was titled “Journey to an insured Pakistan”, said a press release issued. The roundtable was…
SECP issues first ever Shariah Compliance Certificates to 2 REITs
The Securities and Exchange Commission of Pakistan (SECP) has issued the first-ever certificate of Shariah compliance to two Estate Investment Trusts (REITs), namely Signature Residency REIT and Rahat Residency REIT. Earlier this year, in pursuance of Pakistan’s Federal Shariah Court (FSC) judgement, where in the FSC directed the government to facilitate all lending activity under…
SECP Strikes Down Illegal Personal Loan Applications
In order to safeguard the public from falling into debt traps of illegal loan apps, the Securities and Exchange Commission of Pakistan (SECP), in coordination with Google, Apple and the PTA, has ensured removal of 120 illegal Loan apps that were previously available at Google and Apple Stores. The phenomenon of illegal personal Loan Apps…
SECP registers 2,220 companies in July
The Securities and Exchange Commission of Pakistan (SECP) registered 2,220 new companies in July 2023, a 25% increase from the previous year. The total capitalization for these companies was Rs. 3.3 billion. The total number of registered companies in the country rose to 197,828 About 57% of Pakistan’s companies are private limited companies, 41% are…
SECP releases Promoter Guides in Balochi, Pushto, Sindhi Languages
The Securities and Exchange Commission (SECP) has taken a significant step to empower potential entrepreneurs, particularly youths from diverse regions, by providing them with an understanding of the process for registering their businesses as companies in their native languages. To achieve this, the SECP has published promoter guides in Balochi, Pushto, and Sindhi. These guidebooks…
SECP strengthens measures to prevent predatory lending in Digital Nano Lending
In order to curb predatory practices and ensure financial sustainability of the borrowers in the digital nano-lending sector, the SECP has imposed exposure limits on digital lenders and borrowers through its Circular 10 of 2023. A maximum limit of Rs. 25000/- has been imposed for individual borrowers from a single loan app, and the aggregate…