SECP introduces MOAs samples

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced specimens/samples of memorandum of associations (MOAs) of different non-banking finance companies (NBFCs) sectors to simplify incorporation of NBFCs, a statement said on Monday.

The MOAs specimen includes private fund management, real estate investment trusts management, asset management, pension fund management, micro financing, discounting services, housing finance, leasing, investment advisory, investment finance, and securities adviser/futures adviser. The facilitation would enable the sponsors to incorporate a specialised company without the assistance of any expert or intermediary, SECP said.

The regulator has already placed model MOAs of more than 100 sectors on its website for the information/facilitation of general public/investors. The sample MOAs are available at the SECP’s website and can be used for incorporation of NBFC.