CDC starts digital platform

KARACHI: The Central Depository Company of Pakistan Limited (CDC), through its subsidiary ITMinds Limited, has launched the pilot version of a digital platform for the support of the mutual fund industry, a statement said on Friday.

This platform, named “Emlaak Financials”, will function as a digital distribution channel initially for the mutual funds and later for other asset classes also, it added.

In the first phase, “Emlaak Financials” will provide a low-cost and centralised solution to investors, initially through covering low-risk investors, but will soon be expanded to a full-fledged distribution mechanism for all types of investors.

The pilot project has been launched with five AMCs; however, soon more AMCs will be onboarded on the platform, it said.

The launch of the pilot project has been officially announced and formalised in an agreement signing ceremony at the CDC House, Karachi.