Securities and Exchange Commission of Pakistan (SECP) Chairman Muhammad Ali on Friday said the capital market is facing pressure mainly due to lack of liquidity. Speaking at the 8th Annual Excellence Award Ceremony of CFA Association of Pakistan here on Friday, the SECP Chairman urged all the stakeholders to put co-ordinated efforts to let the capital market overcome this challenge.
He said debt market is being developed in the country which will help resolve issue of liquidity at the capital market. He pointed out that the trading activity at the commodity market has been increased tremendously, which will further increase in days to come. He said CFA can play an important role in the development of capital market. He congratulated all the award winners and expressed hope that they will play their role for the betterment of capital market.
CFA Association of Pakistan President, Muhammad Jawaid Iqbal while welcoming the guests said CFA is comprehensive in finance, economics and ethics. CFA requires extensive three years study and most of the time people in Pakistan would earn CFA after completion of MBA, CA or ACCA and bring valuable skills for their employers.
He said CFAs are well-known in capital markets of the country, however not well known in the commercial banking sector. He requested commercial banks to consider CFAs while hiring for their treasury, risk, corporate and SME lending departments. "I am confident that CFAs would surprise you with their skills and fast learning ability," he added.
Later, awards were given away to the winners in different categories. The Best Bank of the Year 2010 Award (large size) went to MCB Bank, Best Bank of the Year 2010 Award (mid size) was given to Bank Al Habib while the Best Bank of the Year 2010 (small size) was given to HSBC Pakistan. MCB Bank also won the Most Stable Bank of Year 2010 award. The Islamic Bank of the Year 2010 award was given to Meezan Bank Limited. The Corporate Finance House of the Year 2010 (Fixed Income) was given to Standard Chartered Bank while the Corporate Finance House of the Year 2010 (Equity/Advisory) was given BMA Capital Management Limited.
Engro Rupia Certificate won the Transaction of the Year 2010 award while Investor Relation award 2010 was given to Engro Corporation Limited. The Best Trader of the Year 2010 award was given to Foundation Securities (Pvt) Limited while the Best Analyst of the Year 2010 award was given to Fawad Khan (CFA) from KASB Securities. The KABS Securities won the "Best Brokerage House of the Year 2010 award".
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