AGL 6.67 Decreased By ▼ -0.23 (-3.33%)
ANL 9.85 Increased By ▲ 0.08 (0.82%)
AVN 76.00 Decreased By ▼ -0.82 (-1.07%)
BOP 5.37 Decreased By ▼ -0.12 (-2.19%)
CNERGY 4.99 Decreased By ▼ -0.06 (-1.19%)
EFERT 78.03 Decreased By ▼ -1.80 (-2.25%)
EPCL 55.70 Decreased By ▼ -1.78 (-3.1%)
FCCL 15.38 Increased By ▲ 0.08 (0.52%)
FFL 6.54 Increased By ▲ 0.06 (0.93%)
FLYNG 7.28 Decreased By ▼ -0.06 (-0.82%)
GGGL 10.55 Decreased By ▼ -0.20 (-1.86%)
GGL 16.75 Decreased By ▼ -0.19 (-1.12%)
GTECH 8.50 Increased By ▲ 0.20 (2.41%)
HUMNL 6.50 Increased By ▲ 0.05 (0.78%)
KEL 3.05 Increased By ▲ 0.03 (0.99%)
LOTCHEM 29.01 Decreased By ▼ -0.14 (-0.48%)
MLCF 28.40 Increased By ▲ 0.10 (0.35%)
OGDC 76.05 Decreased By ▼ -0.48 (-0.63%)
PAEL 15.68 Decreased By ▼ -0.19 (-1.2%)
PIBTL 5.30 Decreased By ▼ -0.13 (-2.39%)
PRL 17.62 Decreased By ▼ -0.07 (-0.4%)
SILK 1.06 Decreased By ▼ -0.02 (-1.85%)
TELE 10.70 Decreased By ▼ -0.12 (-1.11%)
TPL 8.26 Decreased By ▼ -0.34 (-3.95%)
TPLP 21.37 Increased By ▲ 0.18 (0.85%)
TREET 23.61 Decreased By ▼ -0.19 (-0.8%)
TRG 125.25 Decreased By ▼ -2.25 (-1.76%)
UNITY 22.60 Decreased By ▼ -0.50 (-2.16%)
WAVES 11.57 Decreased By ▼ -0.06 (-0.52%)
WTL 1.15 Increased By ▲ 0.01 (0.88%)
BR100 4,155 Decreased By -18.8 (-0.45%)
BR30 15,610 Decreased By -196.3 (-1.24%)
KSE100 41,435 Decreased By -83.1 (-0.2%)
KSE30 15,504 Decreased By -57.7 (-0.37%)
Follow us

KARACHI: State Bank Governor Dr Reza Baqir Tuesday visited CDC House to mark the successful operationalisation of important projects for Pakistan capital market, namely Roshan Equity and RAAST for dividend payments, which have been implemented recently by the SBP in collaboration with the capital market and commercial banks.

It is indeed a moment to celebrate for CDC and the entire capital market as the successful rollouts of these key projects of market development have started yielding promising results besides effecting ease of doing business through innovative solutions, digitization and efficiency of processes. Speaking at the occasion Governor State Bank Dr. Reza Baqir, said, “This is an occasion of immense and significant achievement as we gather here to celebrate the successful rollout of important projects of national interest - including Roshan Equity and RAAST - that have been initiated by the State Bank of Pakistan and very well executed by commercial banks and CDC.

In all these projects, Central Depository of Pakistan has been playing the important roles of facilitator, infrastructure architect and information sharing hub. This is only the beginning of what our vision is for the development of Pakistan’s capital market. The SBP is committed to working with the SECP to support capital market entities in this regard. Now, we have initiated a new project for the capital market pertaining to shared KYC through which investors can open capital market account through their respective bank’s portal/app. This project will pave the way for wider outreach for our Capital Market.“

Badiuddin Akber CEO-CDC thanked the SBP and the SECP for their continued support and patronage in achieving these milestones in its market transformation journey.

Pakistan offers ‘unlimited’ export potential, says Dr Baqir

The CDC is already processing thousands of transactions related to Roshan Digital Accounts and RAAST for stock exchange, for which the CDC acts as the information sharing hub between the banks and capital market entities. Now, for the “Shared KYC project”, CDC will again act as the Information Sharing a bridge for the digital opening of capital market accounts through banking portals for Local Resident Investors with the objective of removing duplication of information capture and KYC processes, he further said.

At the start of the ceremony, Moin Fudda, Chairman Board of Directors-CDC, welcomed Dr. Baqir and other guests to CDC and highlighted the achievements of SBP under the leadership of Dr. Baqir. Farrukh Khan MD-PSX also addressed the ceremony and stressed on the important role of the SBP in the development of Pakistan Stock Market. Ms. Mussarat Jabeen, Executive Director-SECP focused on the significance of collaboration between SBP and SECP.

Prominent personalities from the banking sector and Pakistan capital market also attended the event.

Copyright Business Recorder, 2022

Comments

Comments are closed.

Imran Khan Mar 31, 2022 01:32am
Why NBP "the most pathetic bank" has adopted it. Dear SBP, please have a control and check on NBP also. No customer care, non-serious attitude, impolite behavior, bogus currency notes etc etc what else should I mention.
thumb_up Recommended (0)