NCCPL updates murabaha rules

KARACHI: National Clearing Company of Pakistan (NCCPL), with the consultation and guidance of Securities and Exchange Commission of Pakistan (SECP), has introduced amendments in Murabaha Share Financing (MSF) Regulations.

In this very development, a system-based initiation and affirmation process has been introduced for murabaha sale transaction. This would further simplify the process to execute sale transactions in a more efficient manner.

Further, options for collateral management have been added to facilitate seller and market participants in executing the MSF and release of shares against payment of cash or other collateral.

This would also facilitate Islamic Financial Institutions (IFIs) and market participants to execute sale transactions with more ease and comfort. Further, options for collateral management have been added to facilitate the seller and market participants in executing MSF and release of shares against payment of cash or other collateral.