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August 6, 2020

Meezan Bank launches eIPO

Business

August 6, 2020

KARACHI: Meezan Bank has successfully launched electronic subscription to IPOs (initial public offerings) for its corporate customers via CDC’s (Central Depository Company) newly-launched Master TREC Module in Centralised eIPO System (CES), a statement said on Wednesday.

Using Master TREC in CES, the bank will allow registered Master TREC Holders (brokerage houses) to make payments electronically on behalf of their

customers through the bank’s internet banking, it added.

The newly-launched service will also enable Meezan Bank’s corporate customers maintaining an account under CDS participants (active TREC holders) to subscribe to IPOs of shares / sukuks online on behalf of investors.

Active TREC holders, having an account in the bank will now be able to electronically register themselves with CDC through this efficient system, 24 hours a day, the statement said.