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WEEKLY
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| Crucial meeting on CFS MK-II today |
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Tuesday, March 25, 2008
KARACHI: Rumours about delay in the implementation of Continuous Financing System Mark II (CFS MK-II) at the Karachi stock market were circulating on Monday. This product would provide unlimited lending to equity investors in eligible scrips and is scheduled to launch on April 7.
“Yes, there is a meeting between the SECP and KSE officials on Tuesday (today) to finalise the regulations for CFS MK-II product and let’s see what will be the outcome of this meeting,” a frontline regulator said. He added that if the regulators fail to finalise the regulations then the chances of delay could not be denied.
The main agenda of this meeting is to resolve the issue of submitting 50 per cent cash margins while availing CFS financing on eligible scrips. This percentage of margins is only to be applied on rate of mark-up and not on total funded money, it was learnt.
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ISSN 1563-9479 
