Aurangzeb terms agriculture, IT as mainstay of economy
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said that agriculture and information technology (IT) were the backbone of country’s economy and the real levers of economic growth.
Adil Aziz
SECP & U.S. CFTC conducted 2nd Training Session on Commodities Futures Market
The Securities and Exchange Commission of Pakistan (SECP) in collaboration with the U.S. Commodity Futures Trading Commission (CFTC) commenced the second training session on the development of the Commodity Futures Market, in Islamabad.
Editor
Consultation Paper on Areas of Improvement in the Public Offering Regime
The Securities and Exchange Commission of Pakistan (SECP) has issued a Consultation Paper on areas of improvement in the public offering regime in order to foster capital formation. The requisite regulatory amendments will be finalized after receiving public feedback and stakeholder consensus.
Mehfooz
SECP Issues Warning Against Fraudulent Social Media and WhatsApp Groups
The Securities and Exchange Commission of Pakistan (SECP) has issued a public alert regarding the increasing number of fraudulent social media and WhatsApp groups that are operating under the guise of investment training courses. These groups are impersonating well-known local and international business personalities or reputable international financial companies to deceive the public.
SECP roundtable on Insured Pakistan through promoting Takaful
The SECP organized a roundtable discussion to support its ‘Insured Pakistan 5-year strategic plan’ by promoting the development of the takaful sector in Pakistan with the CEOs and heads of takaful operations of all insurance companies. The session titled “Takaful: Unlocking the Growth Potential” was a half day event, held at Karachi.
SECP Revokes Registration of EFU Health Insurance Limited as an Insurer
M/s EFU Health Insurance Limited, is no longer authorized to carry on insurance business in Pakistan and, as per scheme, any business activity carried by it or any liability incurred by it shall be payable by M/s EFU Life Assurance Limited. Consequently, all policyholders of EFU Health Insurance Limited may contact M/s EFU Life Assurance Limited for any claim or liability with respect to their insurance policies.
SECP alerts public to fraudulent trading platform Aviva Investment Group
The Securities and Exchange Commission of Pakistan (SECP) has identified an illegal trading platform operating under the name “Aviva Investment Group/ H1- Aviva Securities Exchange Academy/ Aviva Investment Limited “. The platform is being promoted through various WhatsApp groups and social media channels and is falsely claiming\substantial returns on trading in the Pakistan Stock Exchange and international stock markets.
SECP notifies adoption of fresh AAOIFI Shariah, Governance, and Ethics Standards
The fresh Shariah Standards, namely 21, 27, 30, 44, 45, 46, and 53, have been notified through SRO 729 (I)/2024 for implementation by the Islamic financial institutions under SECP’s regulatory domain. The SECP is gradually adopting AAOIFI’s Standards as a benchmark for Islamic financial services, aiming to ensure harmonization and standardization in business practices within the local business context.
Insurance Companies, CDC ink MoU to establish Pakistan’s first Auto Insurance Repository
Under the regulatory guidance of the Securities and Exchange Commission of Pakistan (SECP), nine insurance companies have signed an MoU with the Central Depository Company of Pakistan (CDC) for the establishment of Pakistan’s first centralized auto insurance repository. The CDC will provide the technological support for the creation of an automated repository.
CDC announces further tariff reductions to facilitate Capital Market Investors
The Central Depository Company of Pakistan Limited (CDC) has completely eliminated annual maintenance fee for the sub-account holders, as well as announced a full waiver of the CDS connection fee and minimum fees for Securities Brokers.