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Yearly Archives: 2013

Muhammad Hanif Jakhura, CEO-CDC elected as Chairman of Executive Committee of Asia-Pacific Central Securities Depositories Group in its 17th Annual General Meeting in Dhaka

Posted on October 21, 2013 - 6:26 am by

Muhammad Hanif Jakhura, CEO-Central Depository Company of Pakistan Limited has been elected as the Chairman of Executive Committee of Asia-Pacific Central Securities Depositories Group (ACG) for a three year term during the proceedings of the ACG 17 Annual General Meeting held in Dhaka from October 20-21, 2013. Consequently, Central Depository Company of Pakistan Limited has also become the ACG Secretariat for the next 3 year term. These two announcements came as a high-point of the event since the other members of the EC included China, Japan, India, Singapore and Korea.

 

The Asia-Pacific Central Securities Depository Group (ACG) is a representative organization of Securities Depositories and Clearing Companies of the region and is working to facilitate the exchange of information and promote mutual assistance among members. CDC is amongst ACG’s 32 member institutions that represent 23 countries.

 

With this appointment, Muhammad Hanif Jakhura will also be representing the Asia-Pacific Region on the Executive Board of World Forum of CSDs (WFC), the global body of five regional CSD associations including Americas’ Central Securities Depositories Association (ACSDA), Association of Eurasian Central Securities Depositories (AECSD), European Central Securities Depositories Association (ECSDA), Africa and Middle East Depositories Association (AMEDA) and ACG.

 

He will serve on the Steering Committee of WFC 2015, a bi-annual global event of CSDs around the world. He will also be representing ACG on other platforms like International Securities Services Association (ISSA), Association of Global Custodians (AGC) and the Committee on Payment and Settlement Systems of the International Organization of Securities Commissions (CPSS-IOSCO).

CDC sends Account Statement to all Sub-Account Holders

Posted on March 18, 2013 - 3:16 pm by

Karachi, March 18: Central Depository Company of Pakistan Limited (CDC) has recently sent Physical Account Statements to all Sub-Account Holders of thea Central Depository System. The system-generated statements provide details about the securities position in Sub-Accounts in terms of balance available, and pledged etc.

 

Sub-Accounts are opened and maintained by Participants (brokers, banks and DFIs) who perform securities transactions on behalf of their clients. CDC has advised all Sub-Account Holders to carefully read the account statements and contact their Participant and CDC in case of any discrepancy.

 

The physical Account Balance Statement has been sent to Sub-Account Holders as a onetime exercise for their information and reconciliation to help them better safeguard their investment portfolio. This activity was in line to the belief advocated by CDC over the past many years that an ‘Informed Investor means Secured Investment’.

 

Talking about this activity, Muhammad Hanif Jakhura, CEO-CDC stressed that Transparency is not only the most important need of Pakistan Capital Market but also a core value of the Central Depository Company. “From time to time, we have taken measures to ensure that the Capital Market functions on transparent grounds. Although, the dispatch of physical account balances was a tedious and huge exercise, it was necessary for the benefit of Sub-Account Holders.

 

Furthermore, we have launched multiple channels for investors to access their electronic securities portfolio through our innovative service-range CDC access. I would strongly advise Sub-Account Holders to take active interest in protecting their investments and subscribe to FREE-OF-COST CDC access IVR, Web and SMS. They can also subscribe to real time eAlert and monthly eStatement facilities by providing their email address to their Participant to keep updated about their account activities at all times.”