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Government of the Punjab signs Trust Deed for Punjab Pension Fund with the Central Depository Company

Government of the Punjab signed a Trust Deed for Punjab Pension Fund with the Central Depository Company of Pakistan Limited on September 27, 2011 in Lahore. On behalf of the Punjab Pension Fund, Mr. Kamran Michael, Minister for Finance, Human Rights, Minorities and Woman Development, Government of the Punjab was the Chief Guest. Mr. Muhammad Hanif Jakhura, Chief Executive Officer of CDC and Mr. Aquil Raza Khoja, General Manager-Punjab Pension Fund, signed the Trust Deed representing CDC and Punjab Pension Fund respectively.


Launched in 2002, CDC’s Trustee and Custodial Services now boasts 121 funds under its client umbrella with aggregated net assets of more than Rs. 240 billion representing over 80% market share. This is clearly reflective of the fact that CDC’s Trustee Service is the preferred choice of Pakistan’s Asset Management Companies and Pension Fund Managers.


Punjab Pension Fund was formed under of Punjab Pension Fund Act 2007. The purpose of the Fund is to generate revenue on Punjab Pension Fund reserve for the discharge of pension liabilities of the Punjab Government. The governance structure of the Punjab Pension Fund has been designed on the lines of contemporary best practices in the pension fund industry around the world.


On this occasion, Mr. Muhammad Hanif Jakhura, CEO-CDC said, “CDC’s Trustee and Custodial Services has become the market leader in public & private sector due to excellent service quality, professionalism, apt business knowledge, emphasis on technological advancements and strict adherence to rules & regulations, making continuous achievements over the past 9 years. CDC is proud to be associated with the Government of the Punjab to perform the Trusteeship function for the Punjab Pension Fund and we look forward to more business associations with the Government of the Punjab with respect to other services being offered by the Company.”

CDC launches Free of Cost eStatement and eAlert facilities for CDS Account Holders

In order to ensure more transparency by keeping investors constantly updated of their investment portfolio in CDS, Central Depository Company of Pakistan (CDC) has launched two free of cost facilities, namely eStatement and eAlerts facilities for its customers.


These value-added facilities will ensure added convenience to CDS Account Holders by keeping them constantly updated about their account information via email. While eStatements has already been launched for Investor Account Holders, eAlerts is an added feature for both Investor & Sub Account Holders.


By opting for eStatements, CDS Account Holders will be able to receive their Account Balance Statements through email on their registered email addresses. While through eAlerts they will be able to receive real time transaction alerts in their email inbox. CDC has strongly urged its CDS Account Holders to register their email addresses with their respective Participant [stock broker] or CDC [in case of IAS] to avail these services.


While CDS Account Holders have a choice for opting for eStatements on a monthly or quarterly basis, eAlerts will be sent on specific transactions, such as, Transfer of securities from the account, Intimation of securities pledged from the account, Intimation of withdrawal request and Intimation of Subscription of Right Shares.


CDC, being a customer-centric organization, has always been pro-active towards providing quality services to its clients. In this day and age where accurate and timely information is the key to strategic decision making, CDC has been perceptive of this need and has over the years implemented state-of-the-art customer convenience channels under the brand of CDC Access to ensure that up-to-date account information is provided to clients. CDC Access has SMS alerts, Web and IVR services under its umbrella. CDC hopes that by implementing such value driven services it can better serve the market while bringing transparency in the overall market processes.

Standard Chartered and Central Depository Company join hands to support AMC Market

Standard Chartered Bank (Pakistan) Limited and Central Depository Company of Pakistan Limited (CDC), have jointly launched a new and unique initiative that offers automated, standardised processing of securities settlement for Asset Management Companies (AMCs) across Pakistan.


Standard Chartered Pakistan has successfully integrated its state of the art electronic banking channel Straight2bank (Access) with Central Depository Company’s Fund Management System (FMS)  providing a dynamic platform with a number of possibilities and opportunities for AMCs  by offering operational efficiency, reduced risk, lowered cost and improved transparency via CDC.


Straight2Bank is one such global product which efficiently executes and monitors cash management, foreign exchange and trade finance activities. It also offers a wide range of payment solutions on a single platform. This includes transfers, corporate cheques, pay orders, payroll and telegraphic transfers.


Commenting on this occasion, Mr. Mohsin Nathani, Chief Executive, Standard Chartered Pakistan said, “Standard Chartered, consistent with our brand promise of being Here for good for our clients, offers banking solutions and products that greatly enhance our clients’ operational efficiency. The bank is keen on building long term partnerships with its clients by offering banking solutions that help add value to their businesses. We believe that this product offering to CDC will go a long way in helping CDC further streamline their business operations through efficient and secure cash management solutions”


Central Depository Company of Pakistan Limited (CDC) is the only depository in Pakistan and the sole entity handling the electronic settlement of transactions carried out at all three stock exchanges of the country. CDC provides depository services to a wide range of Capital Market participants which includes Brokers, Asset Management Companies (AMCs), Banks (including Custodian Banks) and general retail investors. CDC is also the largest Trustee & Custodial Service Provider with 117 funds of 25 AMCs under its service umbrella. The integration of SCB and CDC service platforms will result in greater operational efficiency creating a win-win situation for all stakeholders.


Commenting on the agreement, Mr. Muhammad Hanif Jakhura, Chief Executive Officer, Central Depository Company said, “This is yet another leap towards providing efficient solutions to our clients by passing the advantage of automation and straight-through-processing. I congratulate both SCB and CDC teams who have really worked hard to accomplish this landmark achievement. I hope that this agreement between our two organizations will further strengthen our relationship enabling us to provide even better & efficient solutions for our clients.”