SECP asks companies to benefit from Regularize scheme by Sept 15
A two-member team from Securities & Exchange Commission of Pakistan (SECP) visited the Multan Chamber of Commerce and Industry, listened to issues and informed officials about the Companies Regularization Scheme 2024.
Adil Aziz
SECP Publishes Report Crop and Livestock Insurance in Pakistan
Despite the global prominence of agriculture insurance in over 100 countries, Pakistan’s agricultural insurance landscape remains underdeveloped, accounting for only 2% of the total non-life sector premiums. At present, government-led insurance schemes cover approximately 14% of farmers, necessitating substantial expansion and enhancement. The report provides a detailed review of existing government-led agricultural insurance schemes such as the Crop Loan Insurance Scheme, the Livestock Insurance for Borrowers, and the Punjab Fasal Beema Scheme. It also discusses several pilot initiatives by the private sector.
Editor
Women, shaping tomorrow’s policy for non-Banking microfinance sector
The Securities and Exchange Commission of Pakistan (SECP), in collaboration with Asian Development Bank (ADB) held a workshop on “Women Equifin: Shaping Tomorrow’s Policy for NBMFCs,” marking a significant milestone in gender equality in the microfinance sector. The workshop launched a draft Women Equality in Finance Policy Framework, based on industry insights and stakeholder feedback.
Mehfooz
SECP bootcamp to impart financial literacy to over 1500 educators concluded
The Securities and Exchange Commission of Pakistan, in collaboration with the Ministry of Federal Education and Professional Training, effectively has imparted basic financial literacy concepts to over 1500 teachers from 432 Federal Government Schools & College of Islamabad Capital territory.
PSX Lists International Packaging Films Ltd. with a Gong Ceremony
A gong ceremony was held at Pakistan Stock Exchange (PSX) to celebrate the listing of International Packaging Films Limited (IPAK). IPAK is a company pioneering and specialising in manufacturing of the five-layer Biaxially Oriented Polypropylene (BOPP) films used for the purpose of packaging. Specifically, it can be used for food and beverages packaging, garment bags and bagging overwrap, as well as printing pouching and strip packaging among other types of packaging.
SECP Introduces Self-Assessment Declaration for NBFC’s to Enroll Digital Lending Apps
The Securities and Exchange Commission of Pakistan (SECP) has introduced a Self-Assessment Declaration Form to expedite and simplify the enrollment of Non-banking Finance Companies (NBFCs) digital lending apps on its approved list.
SECP Commissioner launches NBFI & Modaraba Year Book 2023
The launch ceremony, held at the Association’s office was attended by a large number of industry representatives. The Year Book indicates that despite its challenges, the NBFIs and Modaraba sector has shown significant improvement, particularly in terms of assets, profitability, dividend distribution and tax payments. The assets of the sector increased to Rs 158,404 million in FY 2023 as compared to Rs. 142,918 million in FY 2022.
SECP conducts Workshop on Collaboration with China in Capital Markets
The participants deliberated ways to strengthen connections between the capital markets of both countries and to enhance Chinese investment in Pakistan’s capital markets. Specific suggestions included exploring cross listings between the respective stock exchanges, establishing joint ventures between Chinese firms and their local counterparts, and creating Exchange Traded Funds (ETFs) to provide Chinese investors with easier access to Pakistan’s capital markets.
SECP unveils a comprehensive framework for digital lenders to launch innovative products
The revised framework introduces a host of new product verticals tailored to meet the evolving needs of borrowers and further strengthening the cyber security standards. Noteworthy among these innovations are the introduction of Embedded Lending through APIs, Buy Now Pay Later services, and Employer Integrated Earned Wage Access.
Salaam Family Takaful Limited obtains license to operate as first ever digital only Islamic Life Insurance provider
The coveted license was handed over to Rizwan Hussain, MD and CEO of Salaam Family Takaful Limited by Akif Saeed, Chairman, Securities and Exchange Commission of Pakistan (SECP) in the presence of Salaam Family Takaful’s Shariah board, and their endorsement signified that the new organization with its operations and offerings were completely Shariah compliant.