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Account Opening

An Investor Account is directly opened and maintained with the Central Depository Company (CDC), similar to a Sub-Account maintained with Participants. Investor Account Holders have complete control over their securities and can move securities and perform transactions in the same fashion as performed through Commercial Banks. To open an account, investors need to fill out the Investor Account Opening Form, which is available at the customer support counters at CDC offices or can be downloaded from the CDC website.

CDC has launched its Online Account Opening Solution for Investor Account Services, which now allows investors to fill and submit their account opening forms online, eliminating the need for physical visits to CDC premises for investor account opening. This solution provides investors with real-time tooltips regarding the requisites for filling the Online Account Opening Form, limiting the potential for discrepancies and errors. Currently, the Online Account Opening facility is available for individual clients only.

Transaction Processing

Deposit of Physical Securities

As physical securities are not traded in the market, therefore, securities are required to be converted into electronic form. This is a two-step transaction initiated by IAS and forwarded to the respective R/TA. Upon approval by R/TA, securities become available in the relevant Investor Account.

Requirements

Please ensure that the following requirements are met:

  • Securities Deposit Form duly filled and signed.
  • The physical certificate should be in the name of the IAS Account Holder (either as a Title or Joint Account Holder) and have a verified transfer deed.
  • Shares transfer stamps as per the prevailing rate.
  • A copy of the shareholder’s valid SNIC/ CNIC/ NICOP/ POC/ Passport should be included.
  • For information on charges, please refer to the tariff schedule.

Transfer of Securities

Transfer of securities as Portfolio Transfer from IAS to IAS/ Sub-Account is executed where the UIN of all account holders is identical on the basis of the Transaction Order (TO). This can also be executed on the basis of an online mechanism. For more details and charges, please refer to our website and /tariff schedule.

Transactions through Gift Deed

An IAS account holder may gift securities to another IAS/ Sub-Account holder, provided that the donor and donee are relatives and have documentary evidence to prove their relationship. The notice of the gift should be submitted in the prescribed format along with a duly filled and signed TO. For information about charges, please refer to the tariff schedule.

Pledge of Securities

The Account Holder may pledge available securities in favor of an eligible pledgee. The securities will be lien marked upon the instruction of the Account Holder by submitting a physical Securities Pledge Form or an online pledge request via the online transaction web portal.

Withdrawal of Securities

The Account Holder has the option to convert their securities from electronic to physical form. To initiate this process, they can send an instruction to the relevant R/TA to issue physical certificates. The R/TA will then dispatch the certificates to the Account Holder’s registered mailing address.

Requirements

Please ensure that the following requirements are met:

  • Securities Withdrawal Form duly filled and signed.
  • Copies of SNIC/ CNIC/ NICOP/ POC/ Passport of Title Account Holder, Joint Account Holders, or Nominee (as applicable), duly attested.
  • Copy(ies) of Zakat Declaration of Title Account Holder and Joint Account Holders, duly attested.
  • Shares transfer stamps as per the prevailing rate.
  • For charges, please refer to the tariff schedule.

Unpaid Rights Subscription

Unpaid Rights Subscription Request can be subscribed on the instruction of the Account Holder through the following modes:

  • Submission of a duly signed request at CDC offices.
  • Sending an email to [email protected] through the registered email address.
  • Placing an online request via the online transaction web portal.

Account Maintenance

After opening an IAS account, account holders can update the following details as per requirement:

Registration Details Update

  • Contact Details Update

For a change in contact details, such as contact number, local mobile number, or email address, a duly signed letter or Updation Form is required as per the operating instructions. Contact details can also be updated via email sent from the registered email address, except for the change of email address.

  • Zakat Status Update

To update Zakat status as Zakat non-payable / not applicable, Muslims are required to submit a letter or Updation Form along with a duly attested copy of Zakat Declaration. Non-Muslims are required to submit a duly signed solemn affirmation on plain paper as per the prescribed format. Zakat status can also be updated via email sent from the registered email address along with a colored scanned image of the original attested Zakat Declaration or original signed solemn affirmation.

  • Dividend Mandate Update

To add or update Dividend Mandate, i.e., bank details for receiving dividends directly into the bank account, a letter or Updation Form is required. Dividend Mandate can also be updated via email sent from the registered email address.

  • NTN Update

For a corporate entity, NTN is updated upon receiving a duly signed letter on the corporate letterhead or through the registered email address along with a copy of NTN certificate.

  • Signature Update

To update the signature record of an individual account, physical presence is required along with the original SNIC/ CNIC/ NICOP/ POC/ Passport to update the record. Non-residents/ foreign individuals are required to submit a duly signed updation request along with a revised signature card duly attested by the consulate office of Pakistan or Notary Public of the respective country. Body corporates can submit a duly signed updation request by authorized signatory(ies) on corporate letterhead along with a revised signature card duly attested by the company secretary or two directors jointly. Further, for signatory(ies) update, a board resolution is also required.

Issuance of Transaction Order (T.O.) Book

To issue a new TO book, a duly signed requisition slip (available in the previously issued TO book) is required.

Loss Mark T.O. Book / T.O. Leave

In case of loss of TO book / TO leave(s), CDC must be informed in writing by providing a duly signed letter cum undertaking on plain paper on the prescribed format. The lost TO book can also be marked lost based on an email from the registered email address along with a colored scanned copy of the original signed letter cum undertaking.

Account Closing

To close an account, a duly filled and signed Account Closing Request/ Form is required. An email from the registered email address can also serve the purpose.

Payment Mechanism

To maintain a smooth processing of transactions, the Investor Account Holder is required to maintain sufficient cash balance in their IAS Account. The modes of payment for IAS dues are as follows:

  • IAS dues can be paid online through selected banks’ online channels. Dues can be paid partially, completely, or as a top-up amount. The IAS account number is essential for payment. You can pay through:
    • 1 bill with a unique CDC Investor Account Service ID, and the amount will be directly credited to the respective IAS account.
    • Large networks of banks’ ATMs.
    • Over the counter at large networks of banks by mentioning the IAS account number for payment to CDC.
  • Cash up to Rs. 5000 or through instruments in favor of Central Depository Company of Pakistan Limited can be paid at CDC offices. In case of payment through an instrument, the net amount will be credited upon realization of the instrument.
  • Non-Resident Pakistanis/ Foreigners can make payments directly to the CDC bank accounts. However, credit will be given only after receiving an email from a registered email address on [email protected] and necessary verification from the respective bank. It is important to maintain sufficient cash balance in the IAS account for smooth processing of transactions.

Free of Cost Value Added Services of IAS

By providing a local mobile number and email address, you will start receiving alerts (SMS & eAlerts) on your transactions. Furthermore, you can access your account details anytime, anywhere with the CDC access account information portfolio, which comprises the following channels:

  • CDC access – Web

Investor Account holders can access account information via https://csp.cdcaccess.com.pk

  • CDC access – SMS

Provides real-time alert messages about account-related transactions via SMS on the registered cell numbers of Investor Account Holders.

  • CDC access – eAlert

Provides real-time alert messages about account-related transactions via the registered email address of Investor Account Holders.

  • CDC access – eStatement

Sends the account balance statement to the Investor Account holder’s registered email address on a monthly basis.

  • CDC access – Online Transactions*

Allows Investor Account Holders to initiate Portfolio Transfers, Pledge Transactions, Right and IPO Subscriptions directly through the CDC Access web portal https://csp.cdcaccess.com.pk on real-time without any paperwork or manual effort.

(*Transaction charges will be applicable as per the tariff schedule available on CDC website.)

For further information or queries, you can contact our Customer Support Services on our toll-free number 0800-CDCPL (23275) or email us at [email protected]