Author: cdc_admin

ITMinds Limited signs agreement with Atlas Asset Management for Back Office Accounting Services

Since its formation, ITMinds Limited (a wholly owned subsidiary of Central Depository Company of Pakistan Limited) has committed itself to providing IT consultancy and implementation services to both local and international organizations with its network expanding to Middle East and Africa. The company introduced unparalleled back office services in recent past.

 

Recently, ITMinds signed an agreement to provide back office services to Atlas Asset Management Limited (AAML): an Atlas Group Company. AAML is a leading asset management company in the private sector of Pakistan with an AM2- rating by PACRA and currently managing an assets portfolio of over 17.5 billion rupees. This arrangement will provide AAML with a dynamic platform to increase operational efficiency and achieve financial growth.

 

ITMinds Limited shall be providing services for settlement, unit management operations, NAV calculations and financial statements. The agreement was signed by Mr. M. Habib-ur-Rahman, CEO-AAML and Mr. Muhammad Junaid Shekha, CEO-ITMinds Limited; in presence of Mr. Muhammad Hanif Jakhura, Director-ITMinds Limited and CEO-CDC, Mr. Frahim Ali Khan – Director AAML and Mr. Muhammad Abdul Samad, COO-AAML.

CDC organizes Investor Awareness Seminar for National Press Club and Rawalpindi and Islamabad Tax Bar Association

Central Depository Company of Pakistan Limited (CDC), in collaboration with the Securities and Exchange Commission of Pakistan (SECP), and Pakistan Stock Exchange (PSX) organized an investor awareness seminar, for journalists and media representatives, at the National Press Club Islamabad on April 27, 2017.

 

The seminar aimed at enhancing awareness among journalists, as current and potential investors, about Pakistan Capital Market and the steps taken for investor protection. Syed Murtaza Abbas Naqvi, Joint Director, Securities and Exchange Commission of Pakistan (SECP) briefed the audience about the available investment opportunities in the Capital Market and the Jamapunji initiative of the regulatory body. His presentation was followed by a briefing by Mr. Sani Mahmood Khan, Head of Product Development and Marketing, Pakistan Stock Exchange about the current regime of PSX after demutualization and Chinese investment in the shareholding of the exchange. Mr. Arif Ahmed from CDC spoke about ways to invest in mutual funds and the transparency of stock market mechanisms.

 

The presentations were followed by a question and answers session. The attendees actively interacted during and after the sessions with the capital market representatives.

CDC organizes first-ever Pakistan Capital Market Expo in Peshawar

Central Depository Company of Pakistan Limited (CDC), in collaboration with Securities and Exchange Commission of Pakistan (SECP), Pakistan Stock Exchange (PSX) and other Capital Market entities, organized the first-ever Pakistan Capital Market Expo in Peshawar. Mr. Haji Muhammad Afzal, KPCCI President, was present as the Chief Guest at the occasion.

 

The event was endorsed by the Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) and representatives of leading Stock Brokers, Asset Management Companies and Banks had set up exhibition stalls to provide information about their products and services. The objective was to help educate both the current and potential investors in Peshawar with respect to the investment opportunities available in the Pakistan Capital Market and steps taken for protection of investor assets. Interactive awareness sessions on equities and mutual funds were conducted and participants actively engaged in discussions on various topics with representatives of CDC, SECP and PSX.

 

Mr. Haji Muhammad Afzal, greatly appreciated the efforts of CDC in organizing the event. He further commented that there should be greater collaboration between KPCCI and the Capital Market and that such events should be organized in other cities of KPK as well.

Central Depository Company and 1Link sign an agreement for processing of payments for Centralized eIPO system

Central Depository Company of Pakistan Limited and 1LINK (Guarantee) Limited recently signed an agreement for processing of payments as part of the Centralized eIPO System, at CDC House. The agreement was signed by Mr. Aftab Diwan, CEO – CDC and Mr. Najeeb Agrawalla, CEO – 1LINK. Mr. Shahid Nasim – Executive Director, SECP, Mr. Khurram Gul Agha – Director and Chairman BD Committee, 1LINK & Head of IT and Transaction Banking Faysal Bank, Mr. Arshad Khan – Senior Joint Director, SBP and Mr. Muhammad Ali Sario – Joint Director, SBP, were also present on this occasion, with team members.

 

It is important to note that CDC recently introduced Centralized eIPO System (CES) under the guidance of the Securities and Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP). eIPO is an efficient, easy and hassle-free mechanism that lets investors apply for the subscription of shares of companies, offered to general public.

 

The investors having a valid national identity card, bank accounts in scheduled banks and CDC accounts can electronically subscribe IPO on www.cdceipo.com which is now accessible for registration as well. The eIPO system will help increase the outreach of IPOs, promote the culture of keeping securities in book-entry form and will make the IPO process more user-friendly and efficient.

 

The said Centralized eIPO System will be available for upcoming IPO of Ittefaq Iron Industries Limited. Internet and Mobile banking and the Over the Counter (OTC) payment channel will soon become available for this IPO through a number of banks, the list of which is provided on the said website.

NBFI and Modarba Association of Pakistan Partner with CDC for Abbottabad Sarmayakari Markaz

The NBFI & Modaraba Association of Pakistan has entered into an agreement with Central Depository Company (CDC)   to open an office at the Abbottabad Sarmayakari Markaz (ASM) for providing Investor Education and Awareness of the sector and expand outreach of its members to the residents of Abbottabad and the surrounding cities of Haripur, Mansehra, and Balakot etc.

 

The agreement was signed by Mr. Ayaz Dawood, Chairman, NBFI & Modaraba Association of Pakistan and Mr. Aftab Diwan, CEO – CDC.

 

NBFI & Modaraba Association of Pakistan is a representative body of Modarabas, Leasing Companies, a few Investment Banks and a Window Takaful Operations operating in the country.

 

ASM is Pakistan’s first ever Capital Market Business Hub, established by Securities and Exchange Commission of Pakistan (SECP) in collaboration with the Central Depository Company of Pakistan Limited (CDC). Capital Market Business Hub is a concept of centralized premises where major capital market entities maintain their presence. Through this endeavor, the outreach of the capital market will be greatly enhanced especially in smaller cities of the country.

CDC conducts Investor Awareness Seminars in upcountry

Central Depository Company of Pakistan Limited conducted another series of Investor Awareness Seminars in the northern parts of the country including Azad Kashmir. The seminars were aimed at enhancing the awareness of investors and business students with respect to investor protection, roles and responsibilities of the investor and the general operations of CDC and the capital market.

 

These seminars were conducted in the cities of Abbottabad, Muzzafarabad, Peshawar, Rawalpindi, Islamabad and Mirpur (Azad Kashmir). The attendees gave a strong feedback in relation to the seminars and welcomed further initiatives in the future.

 

The main aim of these sessions is to enlighten the attendees with respect to asset protection and measures that need to safeguard the investments. Moreover, the awareness sessions also shed light on the new initiatives taken by CDC for the benefit of the Capital Market.