The business community of southern port city of Karachi has announced the launch of a new airline in Pakistan. According to sources, the upcoming airlines’ name “Air Karachi” has been registered with SECP. The new airline is expected to obtain its license in the coming days. KARACHI: In response to growing dissatisfaction with the national … Read more
The total number of registered companies now stands at 183,744. Total capitalisation (paid-up-capital) of these companies for the current month stands at Rs4.1 billion. 85 new companies have foreign investors from Afghanistan, Austria, Australia, Bangladesh and China. ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,374 new companies in December 2022, … Read more
SECP has consolidated all statutory and regulatory requirements in one Circular. The consolidated circular SRO 2310 contains all prior circulars and notifications. A comprehensive exercise has been done to review all previously issued circulars. KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has consolidated all statutory and regulatory requirements in one Circular, to improve … Read more
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has notified the draft Asset Backed Securitisation Regulations, 2022 (The ‘Regulations’) for public consultation, a statement said on Wednesday. These regulations provide a mechanism for the asset-backed securitisation, covering all aspects of the securitisation process, it added. Currently, the asset-backed securitisation is governed by the Asset … Read more
LAHORE: The 11 companies who are facing 12 Securities and Exchange Commission of Pakistan (SECP) cases, are hiding behind stay orders in the honourable Sindh and Islamabad high courts where they are raising newly extended SECP chairman Aamir Khan’s under performance in legal battles, BOL News has learnt. According to the Pakistan Stock Exchange website, there are … Read more
KARACHI: Under the regulatory impetus of the Securities and Exchange Commission of Pakistan (SECP), Insurance Association of Pakistan (IAP) and Central Depository Company of Pakistan Limited (CDC) signed a memorandum of understanding for the digital aggregation of insurance products, CDC’s Emalaak Financials platform, a statement said. Sadia Khan, commissioner of the SECP presided the MoU … Read more
KARACHI: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has launched ‘Dost’, a mobile-based application that provides a complete digital banking ecosystem to its customers and gives them hassle-free access to the financial services round-the-clock, a statement said on Thursday. The latest addition to the MMBL ecosystem reflects the bank’s relentless pursuit for innovation … Read more
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted licences to three new housing finance companies during the fiscal year ended June 30, 2021, a statement issued by the commission said on Wednesday. The SECP believes that a revitalised housing finance companies sector will contribute in catering to the huge demand for affordable … Read more
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has accorded approval for the registration of the first Shariah-compliant Developmental Real Estate Investment Trust (REIT) Scheme in Pakistan under the revamped REIT regulatory framework, a statement said on Thursday. Earlier this year, the commission had significantly revamped the REIT Regulation, 2015. This signifies that the … Read more
KARACHI: The Pakistan Stock Exchange (PSX) has announced to spin out its real estate business into a wholly-owned subsidiary (PropCo) and transfer the PSX’s immovable properties and related arrangements to the newly-formed company. In return, PropCo will issue all its shares in favour of the stock exchange. As per the latest valuation carried out by … Read more
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has disqualified the sponsors of the B4U Group from becoming a director of any company for a period of five years and has also imposed a penalty of Rs100 million on each of its sponsors, a statement said on Saturday. Further, the sponsors would not be … Read more
For the second month in a row, the Securities and Exchange Commission of Pakistan (SECP) saw an increase of over 100 per cent in the number of new firms as it registered 1597 new businesses. According to the SECP, 1597 new businesses were formed in May 2021, representing a 107 per cent increase over the … Read more
The Securities and Exchange Commission of Pakistan (SECP) on Friday issued a public warning to protect the public from illegal activities being carried out by various companies and advised the general public to refrain from investing in employment schemes. According to the report, the corporate sector regulator said that a company called La Ville de … Read more
The Securities and Exchange Commission of Pakistan (SECP) has advised non-life insurance companies to grant one month free of cost extension in insurance coverage to all motor insurance policyholders amid COVID-19. The ongoing lockdown situation across the country has resulted in a significant decline in traffic density. With intercity public transport almost at a significant … Read more
The Securities and Exchange Commission of Pakistan (SECP) will extend its One Stop Shop (OSS) facility for company registration to Baluchistan and KPK. SECP Commissioner Shaukat Hussain, Commissioner (SECP) said this while speaking at the launching ceremony of Government of Balochistan’s plan for Transformation of Traditional Businesses into Corporate Bodies. Shaukat apprised the audience that … Read more
The Securities and Exchange Commission of Pakistan (SECP) signed Memorandums of Understanding (MOU) with five leading universities to promote financial literacy among youths. SECP’s Commissioner Investor Education Department, Shaukat Hussain inked the MoUs. While universities were represented by their respective Vice Chancellors, Registrars and Directors. These HEC recognized universities included University of Balochistan, Mehran University … Read more
The Securities and Exchange Commission of Pakistan (SECP), will facilitate the revival of distressed companies, has notified the Corporate Rehabilitation Regulations, 2019. The regulations, issued under section 41 of the Corporate Rehabilitation Act, 2018 (CRA) broadly cover procedures for maintenance of Penal of Insolvency Experts, manner of determination of remuneration of Insolvency Experts, and Code … Read more
