ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) organised a consultative session on agricultural warehousing regulations and commodities-based collateral and financing ecosystem at the SECP head office on Tuesday, a statement said.
A number of stakeholders from the State Bank of Pakistan, National Bank of Pakistan, Zarai Taraqiyati Bank, National Rural Support Program and officials from the ministry of agriculture attended the session, it added.
Representatives of a number of commercial banks, including, Habib Bank Limited (HBL), MCB Bank, Meezan Bank, United Bank Limited (UBL), Central Depository Company of Pakistan, Pakistan Mercantile Exchange, Pakistan Microfinance Network, Pakistan Microfinance Investment Company, provincial departments of agriculture from Punjab and Sindh, Pakistan Agriculture Coalition, telecommunication companies (Mobilink and Telenor) also attended the session.
The SECP executive director highlighted the importance of collateral and warehouse management for developing agriculture value chain and the Securities and Exchange Commission of Pakistan’s role and commitment towards modernising Pakistan’s agricultural markets.
He also briefed the participants on the recently notified collateral management framework, the statement said. Dr Andre Van der Vyver, an international expert on commodities market, also made a detailed presentation on practical and operational aspects of collateral management ecosystem. The participants actively made queries in the interactive session and provided their input and suggestions on the way forward.
The participants emphasised on continues dialogue / collaboration between the Securities and Exchange Commission of Pakistan and the State Bank of Pakistan and other stakeholders to develop a roadmap and a regulatory framework for the commodity market.
The SECP has issued Collateral Management Companies (Establishment & Operations) Regulations, 2017 on May 2, 2017. It is also drafting the warehousing regulations for implementing a modern collateral management regulatory regime in Pakistan.
