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Our Story

Our Story

With an ever increasing exponential growth in the Pakistan Capital Market during the early 1990s causing a huge increase in trading volumes, the physical handling of paper-based shares / certificates became not only laborious but also time consuming. It was in this perspective that CDC was incorporated to implement and operate a depository system and eliminate the tedious process of physical shares handling and transfer.

Experts from PriceWaterhouseCoopers conducted a study in 1993 to develop a conceptual framework for the depository. The study was sponsored by the United States Agency for International Development (USAID) and its report laid the foundation for depository design.

In November 1994, the Board of Directors at CDC awarded a turnkey contract to the IBM consortium for the implementation of this system in Pakistan. The IBM consortium proposed a comprehensive Master Implementation Plan (MIP) to the CDC Board after a detailed analysis of the following:

• National requirements

• Company and Banking laws

• Regulations & Procedures

• Financial and organizational aspects of the project

In April 1995, this MIP was approved by the CDC board. The infrastructural development included development and testing of software, hiring and training of personnel and establishment of CDC offices. The CDC offices at Lahore and Islamabad were connected to the head office through VSAT link leading to the development of a geographically neutral depository.

These long term and broad-spectrum efforts finally resulted in the launch of the Central Depository System on September 3, 1997.



• Experts from PriceWaterhouseCoopers conduct a study to develop a conceptual framework for the depository. The United States Agency for International Development (USAID) sponsors the study and the report lays the foundation for depository design.


• The Board of Directors at CDC award a turnkey contract to an IBM consortium for the implementation of the depository system in Pakistan. The IBM consortium proposes a comprehensive Master Implementation Plan to the CDC Board after a detailed analysis of National requirements, Company & Banking laws, Regulations & Procedures and Financial Organizational aspects of the project.


• Master Implementation Plan is approved.


• Promulgation of Central Depositories Ordinance & Central Depositories Act.
• Central Depository Company of Pakistan Limited Regulations developed and approved by the Securities and Exchange Commission of Pakistan.
• September 3 – CDC starts operations. Central Depository System is launched.


• Launches Investor Account Services for individual and corporate investors enabling them to directly open and maintain accounts with CDC in Central Depository System for electronic settlement of securities.
• Induction of Term Finance Certificates (TFCs) into CDS.


• Development of CDC Contingency Site.
• Introduction of Electronic Merger of Securities Facility in CDS.


• Launches Trustee & Custodial Services for Mutual Funds, initially with two open-ended mutual funds with net assets value of Rs. 500 million.
• Introduction of Consolidation / Sub-division of Securities.


• Introduction of Element Training Program for CDS users.
• Induction of WAPDA bonds into CDS.


• Complete implementation of National Clearing & Settlement System (NCSS).


• Series of Investment Road Shows in major cities of Pakistan.
• Deployment of Re-engineered Central Depository System.
• Induction of Open-end Mutual Funds in CDS.


• Hosts 10th Annual General Meeting of Asia-Pacific Central Securities Depositories Group (ACG) in Karachi.
• Holds ‘Investment Road Shows’ in Dubai and Abu Dhabi.
• An independent brand-recall survey published in ‘Money’ magazine rates CDC as one of the top four brands in the country’s Investment Sector.
• Launches CDC access IVR and Web.
• Inauguration of Lahore Office.


• Completes a decade of CDS operations.
• Holds ‘Capital Market Days’ in London and New York.
• Introduces Secure ID Token for further security of CDS Terminals.
• Development of UIN (Universal Identification Number) for Corporate.


• Launches Share Registrar Services for Issuers and their shareholders.
• Introduces Fund Management System.
• Conducts Customer Satisfaction & Brand Awareness Survey through Gallup. According to survey results, CDC is rated Pakistan’s most recognized and prominent financial brand.


• Becomes ISO/IEC 27001:2005 certified for overall depository operations including functional, technical and legal aspects.
• Induction of Unpaid Rights in Central Depository System.
• Trustee & Custodial Services (T&C) acquires 100 funds.


• Exponentially reduces Services Tariff.
• Inducts National Savings Bonds in CDS.
• Holds 3rd Pakistan Day Conference in New York.
• Becomes ACCA Approved Employer.
• Elected as Executive Committee Member of Asia Pacific Depositories Group.
• Introduces new Automated Mechanism of Securities Transfer in CDS.


• Integration of Standard Chartered (Pakistan) Bank’s Straight 2 Bank with CDC’s Fund Management System.
• Government of Punjab appoints CDC as trustee for Punjab Pension Fund.
• Introduces Free of Cost eStatement and eAlert facilities for CDS Account Holders.
• Receives CPD Approved Employer status from ACCA Pakistan.


• Becomes Custodian of over One Hundred Billion Securities.
• Becomes First Company in Pakistan to get BS 25999 certification – the British Standard for Business Continuity Management.
• Completes 15 years of successful operations.


• Teams up with CFA Institute for Employee Development.
• Signs MoU with Life Insurance companies for Centralized Information Sharing Solution.
• Becomes Secretariat of Asia-Pacific Central Securities Depositories Group (ACG) for 2014-16.
• Mr. Muhammad Hanif Jakhura, CEO-CDC elected as the Executive Committee Chairman of ACG.


• Initiates settlement services for Government Securities traded on PSX.
• Conducts Investor Road Shows in 6 major cities of Punjab.
• CDC Employees conduct Disaster Relief activities for Thar Drought affectees.


• Launches Online Transactions service through Web.
• Becomes Trustee of Dolmen City REIT.
• Trusteeship assets exceed Rs. 500 Billion.
• Acquires ISO/IEC 27001:2013 Certification.
• Introduces Direct Settlement Services.


• Acquires International Standards for Assurance Engagement (ISAE) Certification.
• Launches Urdu Website.
• Organizes Pakistan Investor Days in Dubai
• Discretionary / Non-Discretionary Portfolios under custody hit the 100 mark


• Launches CDC Access Mobile App.
• Launches Centralized eIPO System (CES).
• Acquires ISO 22301 certification for Business Continuity Management Program.


• Launches eDividend Repository
• Launches eLoR service


• Introduces Digital Account Opening Facility
• Enables IAS Payments through 1Link banks
• Facilitates Sales Tax Refund Payments through Bonds
• Launches eIPO Facility


• Launches Insurance Repository
• Launches Zakat Repository
• Becomes Central Hub for Investment in Pakistan Capital Market through Roshan Digital Account


• Successful integration and processing of dividend disbursements through SBP’s RAAST Payment Gateway
• Launch of Emlaak Financials, Pakistan’s first mutual fund digital aggregator platform
• Launch of EClear, the first professional clearing member in Pakistan, facilitating the custody and settlement operations of brokerage houses
• Introduction of digital payment facility for IAS Account Holders against their Letter of Rights