ISLAMABAD: In consultation with the relevant stakeholders, the Securities and Exchange Commission of Pakistan (SECP) has constituted a committee comprising of senior market professionals and stakeholders to review the matters of in-house financing and identification of any issues, inefficiencies or hurdles in the existing leverage products.
The committee has been mandated to make recommendations for practical and viable solutions to meet the needs of market participants in relation to financing through brokers. The committee held its first meeting on Friday at the SECP’s Karachi office.
It deliberated on various matters pertaining to in-house financing and existing leverage products. It was agreed that international practices should be reviewed for extension of financing to clients in the capital markets by and through brokers to identify best practices and the existing leverage products should be reviewed accordingly.
It was also agreed that the practical requirements underlying the extension of financing to clients directly by brokers and by obtaining finance from banks should be reviewed in detail to identify key issues and to incorporate necessary improvements in the existing legal framework and product design to facilitate the market participants in extending and arranging finance for their clients.
Systems Limited, IT and IT-enabled services provider, hosted US Ambassador to Pakistan Donald Blome on May 3, 2024....
The logo of the Telenor Microfinance Bank . — temenos websiteKARACHI: Telenor Microfinance Bank reported a strong...
Chief Executive TDAP Mr. Zubair Motiwala met with HE Dr. Bakheet Ateeq Al-Remaiti, Consul General of UAE, in Karachi...
A representational image of gold bangles. — AFP/FileKARACHI: Gold prices in the local market dropped by Rs1,400 per...
A person walks by a sign advertising employment at a fast-food restaurant in New York City. — AFP FileWASHINGTON:...
A woman takes pictures of the electronic board displaying data at the Pakistan Stock Exchange in Karachi, on December...