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.
Editor
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.
Mehfooz
SECP issues manual for complying with regulatory framework for Modarabas
The Securities and Exchange Commission of Pakistan (SECP) has released a comprehensive guide to facilitate Modaraba Companies and Modarabas in complying with requirements of the Modaraba Ordinance 1980, Modaraba Rules 1981, Modaraba Regulations 2021, and related directions and circulars.
Adil Aziz
SECP grants registration to first digital insurer
The Securities and Exchange Commission of Pakistan (SECP) has registered M/s Salaam Family Takaful Limited as the first ever digital family takaful operator.
SECP files criminal complaint against two individuals on charges of front-running
Based on an investigation conducted under the Securities Act, 2015, the SECP has filed a criminal complaint against two individuals who were found involved in front-running equity trading by a large institutional investor during the period from October 1, 2021, to December 31, 2021.
PSX Issues the ESG Primer for Listed Companies
PSX has taken yet another major step in realising its vision of ESG readiness for listed companies by issuing the PSX Primer on Environmental, Social & Governance (ESG). The sector agnostic Primer on ESG is a detailed booklet and first of a series of publications meant for guiding listed companies on reporting on ESG. The PSX Primer enables listed companies to understand ESG opportunities and risks, and educates stakeholders on the usage of ESG data while providing guidance to listed companies on producing a Sustainability Report. This is in line with the roadmap and guidance framework of the SECP to promote and encourage ESG reporting among listed companies.
SECP’s report on Pakistan’s potential for micro and inclusive insurance
The Securities and Exchange Commission of Pakistan has issued a report titled “Unlocking the Potential of Micro and Inclusive Insurance in Pakistan,” which provides an overview of the current landscape and vast untapped potential market for inclusive insurance. The report’s draft version and synopsis were presented at the International InsureImpact Conference, 2023, held in Karachi.
Jazz Cash Becomes SECP’s Strategic Knowledge Partner to Propel Pakistan’s Fintech Ecosystem
The Securities and Exchange Commission of Pakistan (SECP) has signed a Memorandum of Understanding (MoU) with JazzCash, the country’s largest fintech operator. This MoU fortifies JazzCash’s role as SECP’s knowledge partner. The partnership underscores a concerted effort to bolster digitalization and promote financial literacy.
SECP holds industry meeting-cum-webinar on RBC regime for insurance sector
The Securities and Exchange Commission of Pakistan (SECP) held a session for the insurance industry participants to provide an overview of the Risk-Based Capital (RBC) regime and a walk-through of the recently disseminated RBC templates.