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 Investor Account Services (IAS)

Investor Account Services (IAS) offered by Central Depository Company (CDC) allows retail investors to directly open and maintain accounts with CDC in Central Depository System for electronic settlement of securities. Earlier, to settle the securities through Central Depository System, investors had to open client accounts (sub accounts) with the CDS Participants (brokers & financial institutions). With Investor Account Services, investors can now have direct access to their account.

  • Investors now have direct access to their securities, which are maintained by CDC and accounts operated on the instructions of investors.
  • CDC is regulated by the Securities & Exchange Commission of Pakistan. The relevant legislations are Companies Ordinance 1984, Central Depositories Act 1997 and Central Depository Company of Pakistan Limited Regulations.


After the dematerialization of security certificates, investors no longer have physical possession of securities and are troubled by the lack of control over their securities. By opening Investor Accounts with CDC, investors are able to directly control their electronic securities. Although trading is still done through brokers, settlement is done through CDS on written instructions from investors.

Enhanced Services

Investor Account Holders can always remain updated about their Account information using CDC Access services.

Eligibility Criteria

The following are eligible to open Investor Accounts with CDC:

1. Individuals who are Pakistani nationals (Residents/ Non Residents), Foreigners and;

  • Are not minor
  • Are of sound mind
  • Have not applied to be adjudicated as an insolvent, have not suspended payments and have not compounded with their creditors.
  • Are ot undischarged insolvent.

2. Other than Individuals such as corporate entities, societies etc.

Account Opening Process

To open an Investor account, investors need to fill out the Investor Account Opening Form available at the M&CSS counters at CDC offices or download from CDC website. Investors can also get the form by mail through a written or telephonic request. For a telephonic request, call our Customer Services at the toll free number: 0800-CDCPL (23275).

The applicant’s physical presence along with original valid CNIC is mandatory at the time of submitting application for opening of Investor Account in the category of resident Pakistani. Incase of joint account physical presence along with valid CNIC of all applicants will be required.

Investors are required to submit the following with the application form:

Incase of an Individual Investor:

  • Copy of CNIC [Applicant (Title Holder) & all Joint applicants, if applicable].
  • Copy of Passport for foreigner duly attested by Consulate Office of Pakistan.
  • Copy of NICOP for Non-Resident Pakistani duly attested by Consulate Office of Pakistan.
  • Bank Verification is required on the Account Opening form by the bank manager only where the applicant (Title holder) of the prospective IAS Account is maintaining a bank account.
  • Documentation of Zakat Status [Notarized copy of declaration on prescribed format for applicant (Title Holder) & all Joint Account Holders, if applicable].
  • Affidavit for Nomination(s) (As per prescribed format on Rs.20 non-judicial stamp paper duly notarized, if applicable).
  • Power of attorney (As per prescribed format on Rs. 200 non-judicial stamp paper duly notarized, if applicable).
  • NTN certificate (optional).

Incase of a corporate entity:

  • Certified true copy of Memorandum and Article of Association/By laws/Charter (relevant documents where applicable).
  • Certified true copy of the Board Resolution
  • Certified true copy of Certificate of Commencement of Business (if applicable).
  • Certified true copy of the Certificate of Incorporation (if applicable).
  • Certified true copy of registered trust deed (in case of trust)
  • (If the trust is not registered, please provide certified true copy of income tax exemption certificate or NTN certificate.)
  • Specimen Signature Card
  • Power of attorney (if applicable).
  • NTN certificate (optional).
  • Copies of CNICs/NICOP/Passport of authorized signatory(ies)
  • Certified true copy of list of directors
  • In case of foreign corporate entity, all documents must be attested by notary public of respective country and also attested by the nearest Consulate Office of Pakistan.
    (Note: CDC may require additional documents, if required)

As many as four persons/Investors can jointly open an account. Kindly specify in the Investor Account Opening Form, as to how the account will be operated i.e. singly, jointly, or in any other combination.

Any person authorized by the investor can operate the account on his behalf. However, the Investor has to submit a power of attorney along with his specimen signature authorizing the relevant person to operate the account on his behalf.


IAS Services:

Services offered by CDC to Investor Account Holders are as follows:

 Account Maintenance

CDC House

CDC KSE Office

 Account Opening

 Updating and Maintenance

 Account Closing


 T.O. Processing

 T.O. Book Issuance

 Deposit of Physical Securities

 Withdrawal of Securities

 Pledge Processing of Securities

 Redemption & Transfer of Units

 Cash Deposits

 Cash Adjustments

 Cash Refunds

 Processing of Rights Subscription Requests

 Customer Support Services

 A/C Balance & Activity Statements (On Written Request)

 Distribution of all IAS Forms

Delivery Out

At the time of opening of Investor Account, an investor is given a transaction order (T.O.) book (similar to a bank cheque book) for delivery out transactions. The investor fills out details in the transaction order leaf and submits the same at the front desk of IAS department along with the payment. Before making the payment, the investor makes sure that his/her account has sufficient available balance of the security to be transacted.

Investors having accounts with IAS can give instructions of a maximum of three securities per transaction order. While transacting in more than one security, the investor makes sure that sufficient available balance of each security is present in his/her account. If there is no sufficiently available balance of any security in his/her account, the transaction order cannot be executed, as partial transaction cannot be carried out. A new transaction order is required in such cases.

Delivery to another CDC Investor Account Holder can only be made by way of a gift,. In such cases, the gift deed has to be submitted with the transaction order, if both the account holders transferor and transferee are blood relatives. If both transferor and transferee are not blood relatives then in addition to gift deed transaction account holder is required to underline the transactions from the stock broker. In other words, CDC only makes deliveries to the CDC Participants and Account Holders and not to Investor Account Holders.

Delivery In

An investor needs to provide his/her investor account number to the Participant in order to transfer securities in his/her Investor Account.


In order to deposit securities into Central Depository System, an investor needs to fill out the Securities Deposit Form; affix transfer stamps as per the prevailing rate on the R/TA copy of the form and submit it at the front desk of IAS department. Deposit request along with relevant documents is sent to respective issuer/registrar on the same day. An investor can check account balance to ensure that securities have been transferred by the respective Issuer / registrar.


In order to pledge his/her securities, an investor needs to fill out the securities pledge form and submit it at the front desk of IAS department. The investor can only pledge securities in favour of Pledgees having accounts in CDS as Eligible Pledgees.


In order to withdraw securities from Central Depository System, an investor needs to fill out the Securities Withdrawal Form; affix transfer stamps as per the prevailing rate on the second or third copy of the form and submit it at the front desk of IAS department. Withdrawal request along with relevant documents is sent to respective issuer/registrar on the same day. An investor receives physical certificates from the issuer/registrar directly on the basis of first copy of Securities Withdrawal Form.


To subscribe unpaid rights investor needs to submit request for subscription at the front desk of IAS department. Further subscription can also be made through IVR, fax, email. For details please see “Guidelines for Subscription of Unpaid Rights”.

Closing of Investor Account

To close an Investor Account, an investor has to intimate CDC through Account Closing Request Form. The account will not be closed in the following circumstances:

  • If the cash or security balance of Investor Account is not zero
  • If there is any pending corporate action awaiting credit in Investor Account
  • If there is a pending withdrawal request

Therefore, if the security balance is not zero, investors can either move the securities out of the account through delivery out transaction or withdraw the balance. In case of cash balance, investors can deposit/claim the balance, as the case may be.

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