MUFAP and CDC-ITMinds Limited sign MoU for Mutual Fund Digital Platform
Mutual Funds Association of Pakistan (MUFAP) and Central Depository Company of Pakistan Limited (through its subsidiary ITMinds Limited) signed a Memorandum of Understanding for the development and implementation of a digital platform for the support of the Mutual Fund industry. Mr. Aamir Khan, Chairman – Securities and Exchange Commission of Pakistan (SECP) presided at the MoU Signing Ceremony at the CDC House, Karachi.
CDC to facilitate investment in Pakistan Stock Market by Non Resident Pakistanis (NRPs) through Roshan Digital Account
“Central Depository Company of Pakistan Limited (CDC) to facilitate investment by Non-Resident Pakistanis in the Pakistan Stock Market through Roshan Digital Account with designated large-scale banks” said Mr. Badiuddin Akber, CEO-CDC.
Since inception, CDC is focused on educating potential investors in the country. As part of this vision, a series of Financial Literacy Workshops have been regularly organized across the country. These past events have proved as a platform where CDC interacts with the potential and current investors, discussing the potential of Pakistan Capital Market, its returns, opportunities and risks.
CDC’s Measures for Business Continuity during Lockdown
As countries, communities and businesses combat with the Coronavirus Pandemic, most of the established organizations have implemented ‘Work from Home’ policy, trying their best to resume or continue their business operations while maintaining safety protocols, most importantly ‘Social Distancing’. At CDC, this challenging situation proved to be a Litmus Test for the Business Continuity preparations…
US Consul General in Karachi visits CDC
A delegation from the US Consulate in Karachi, headed by Mr. Rob Silberstein, US Consul General in Karachi visited the Central Depository Company on March 05, 2020. Representatives of leading Pakistani corporates and US Businesses in Pakistan attended this event. Mr. Moin M. Fudda, Chairman CDC Board of Directors, welcomed the delegation and spoke about…
Inauguration of CDC’s Revamped Business Continuity Site
It is a matter of pride that Central Depository Company is Pakistan’ first and among the very few organizations in the country and in the world to achieve ISO/IEC 22301: 2015 for its Business Continuity Management Program.
CDC signs Agreement for Centralized Insurance Repository with Life Insurance and Family Takaful Companies
On February 24, 2020, Central Depository Company (CDC) signed an Agreement for Centralized Insurance Repository (CIR) with Life Insurance and Family Takaful Companies of Pakistan. This initiative was undertaken by CDC under the regulatory impetus of Securities and Exchange Commission of Pakistan (SECP) and in line with Government of Pakistan’s objectives to provide Ease of Doing Business through digitization.
UK Deputy High Commissioner in Karachi visits Central Depository Company
A delegation from British Deputy High Commission (BDHC) Karachi, headed by His Excellency Mr. Mike Nithavrianakis, British Deputy High Commissioner in Karachi visited the Central Depository Company (CDC) on February 13, 2020. Representatives of leading Pakistani corporates and UK Businesses in Pakistan attended this event.
UK Deputy High Commissioner in Karachi visits CDC
A delegation from British Deputy High Commission Karachi, headed by Mr. Mike Nithavrianakis, British Deputy High Commissioner in Karachi visited the Central Depository Company (CDC) on February 13, 2020. Representatives of leading Pakistani corporates and UK Businesses in Pakistan attended this event.
Ms. Tania Aidrus, Head of PM’s Digital Pakistan Initiative visits CDC
Ms. Tania Aidrus, Head of Prime Minister Imran Khan’s Digital Pakistan Initiative (DPI) visited CDC House on Friday, January 31, 2020. Mr. Badiuddin Akber, CEO-CDC, received Ms. Aidrus along with senior management representatives.
Ms. Tania Aidrus, Head of PM’s Digital Pakistan Initiative visits CDC
Ms. Tania Aidrus, Head of Prime Minister Imran Khan’s Digital Pakistan Initiative visited Central Depository Company on Friday, January 31, 2020.
She was welcomed by CDC’s senior management team led by Mr. Badiuddin Akber, CEO-CDC who briefed her about the contribution of CDC in transforming the Pakistan Capital Market.
Extraordinary Measures for Extraordinary Times
Year 2020 has changed the scope of the way we perceived life, safety, work and business and most of all, survival. While the whole world is fighting to find ways to resume normal life, these are indeed challenging times.
In line with its vision to promote capital market awareness and help increase the investor base, CDC organized the following awareness sessions in this quarter (Oct – Dec 2019) in different cities of Pakistan: City Venue Islamabad ISE Towers Lahore LSE Auditorium Karachi CDC House Rawalpindi Blue Lagoon Faisalabad Hotel One Karachi ICMA Pakistan Awareness…
CDC collaborates with EasyPaisa for IAS Payments through Mobile Wallet
CDC has always strived to facilitate its account holders by introducing innovative solutions and has recently launched another convenient payment facility to its account holders via EasyPaisa’s Mobile Wallet. Using this service, CDC’s Investor Account Holders can now make their account related payments through EasyPaisa’s mobile application and retailer franchises.
CDC collaborates with various Banks for Efficient Payment Mechanism for its Mutual Fund and Discretionary Portfolio clients
In continuation of its efforts to help increase ease of doing business in the country, CDC has recently collaborated with various banks for their cash management services for the arrangement of Efficient Payment Mechanism (EPM) for CDC’s Mutual Fund and Discretionary Portfolio clients. The EPM is designed to carry out seamless execution of transactions through the integration of CDC’s Fund Management System with the banks’ systems.
CDC launches Zakat Repository System to help increase Ease of Doing Business
In pursuance to Zakat and Ushr Ordinance, 1980 (the “Zakat Law”), Zakat is inter alia, payable on cash dividends declared by Companies. Under the Zakat Law, shareholders may claim exemption from compulsory deduction of Zakat from dividend payments by filing a copy of Zakat Declaration Form on a prescribed format (commonly known as “CZ-50”) duly attested by the notary public OR Solemn Affirmation Letter (the “Letter”) (in case of Non-Muslims) with the Zakat deducting agency (i.e. Issuer or its R/TA).
In line with its vision to promote awareness and increase the capital market investor base, CDC organized the following awareness sessions in this quarter (July – Sept 2019) in different cities of Pakistan
Exchange Traded Funds (ETF) and CDC’s role
An exchange-traded fund (ETF) is a collection of securities—such as stocks—that tracks an underlying index. An ETF can contain many types of investments including stocks, commodities, bonds, and a mixture of investment types. An ETF is a marketable security, meaning it has an associated price that allows it to be easily bought and sold. The…
ITMinds offering of its Back Office Accounting Software as a Service
CDC’s subsidiary, ITMinds Limited, has launched the offering of its custom-made comprehensive fund administration solution, the Back Office Accounting Software (BOAS), as a service to Asset Management Companies (AMCs). BOAS, being state of the art software, has been developed by an in house IT Team
CDC embarks on the conceptualization & development of a Digital Land Repository/ Registry along with Association of Builders & Developers of Pakistan (ABAD)
The Association of Builders and Developers of Pakistan (ABAD) and Central Depository Company of Pakistan (CDC) have signed a historic Memorandum of Understanding (MoU), on the 12th of Sept 2019, for the digitalization of land records through a Land Repository System, which will be the first ever system of its kind in the country envisioned…