SECP registers 2,374 new companies in December 2022
The Securities and Exchange Commission of Pakistan (SECP) registered 2,374 new companies in December 2022. The total number of registered companies now stands at 183,744. The total capitalization (paid-up-capital) of these companies for the current month stands at Rs 4.1 billion. Foreign investment has been reported in 85 new companies. These companies have foreign investors…
Adil Aziz
SECP issues Guidelines for Offering Islamic Financial Services, 2023
In a landmark development for the growth of Islamic finance in the non-bank financial sector, the Securities and Exchange Commission of Pakistan has issued Guidelines for Offering Islamic Financial Services, 2023, covering all its regulated sectors. The guidelines are framed to facilitate growth of Shariah-compliant financial products in the financial services market regulated by the…
SECP apprised digital lenders on new regulatory requirements
The Securities and Exchange Commission of Pakistan (SECP) briefed the non-banking finance companies (NBFCs) on improved regulatory requirements, recently imposed through Circular No 15 to address the complaints of mis-selling, inflated charges and undue access to customers data. Senior management of all the licensed NBFCs, engaged in digital lending participated in the online session. Giving…
SECP to reform PMEX for creating linkage with rural economy: Akif Saeed
The Chairman, Securities & Exchange Commission of Pakistan (SECP) Akif Saeed said regulatory and structural reforms will be introduced along with product development to link Pakistan Mercantile Exchange (PMEX) with the rural economy of Pakistan. The Chairman SECP, accompanied by senior officials, met the Board of Directors and senior management of Pakistan Mercantile Exchange (PMEX)…
Chairman SECP for continuous engagement with market participants
SECP team visits PSX The Chairman, Securities & Exchange Commission of Pakistan (SECP) Akif Saeed, during his visit to Karachi, met with the management and Board of Directors of Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited (NCCPL) as well as the Executive Committee of Pakistan Stock Brokers Association (PSBA) representing brokerage industry….
SECP issues digital lending standards
The Securities and Exchange Commission of Pakistan (SECP), taking notice of rising concerns involving mis-selling, breach of data privacy, and coercive recovery practices of licensed digital lending companies, has issued directive to safeguard public interest and ensure fair treatment of borrowers in digital lending ecosystem. The circular can be accessed from SECP website at https://www.secp.gov.pk/document/circular-no-15-of-2022-requirements-fornbfcs-engaged-in-digital-lending/?wpdmdl=46436&refresh=63abedc5978a21672211909۔…
Zero chance of Pakistan’s default; assures Dar
Federal Finance and Revenue Minister Senator Muhammad Ishaq Dar while rejecting the rumors about Pakistan’s going to default assured that Pakistan has resilience and will survive all challenges. Pakistan has a very beautiful future. However, he stressed on joint and targeted efforts by the public and private sectors to come out of this pressing economic situation….
SECP Constitutes new benches for expeditious disposal of appeals
The Securities and Exchange Commission of Pakistan, subsequent to appointment of three Commissioners by the Federal Government, completing its quorum of Commissioners, has sanctioned its approval to constitute new Benches, to hear appeals under Section 33 of the SECP Act, 1997. The Commission had been operating with only 2 Commissioners in the past year, which…
SECP registers 7 new Private Funds in 2022
The Securities and Exchange Commission of Pakistan (SECP) has registered seven (7) new private funds under the Private Funds Regulations during the calendar year 2022. Given that the Private Funds industry for past many years had only five funds, the registrations of two Venture Capital (VC) funds, four Private Equity and Venture Capital (PE&VC) funds…
SECP register 2,380 new companies in November
The Securities and Exchange Commission of Pakistan (SECP) registered 2,380 new companies in November, 2022, indicating an increase of 10% as compared to corresponding period last year. Total capitalization (paid-up-capital) of the newly incorporated companies is PKR1.9 billion. The total number of registered companies now stands at 182,598. Among the newly incorporated companies, about 59…