“CDC providing reliable and smooth services to its clients,” Mr. Badiuddin Akber, CEO – CDC, highlights in his interview
1. What role does CDC play in Pakistan Capital Market?
CDC, as the sole securities depository of Pakistan, serves as the core infrastructure institution of our Capital Market. CDC’s foundation was laid in the early 1990s, when a huge increase in trading volumes made physical handling of paper-based shares / certificates a laborious and time consuming task. Introducing scripless form of securities settlement in Pakistan had become a necessity. CDC was thus established to operate a Central Depository System (CDS), which transformed how stock changed hands in Pakistan’s Capital Market by introducing an electronic book entry form for handling and transfer of securities. Currently, CDC is entrusted with maintaining assets worth PKR 4.7 trillion and our depository system is the underlying framework supporting the average daily trading of securities worth millions of rupees on Pakistan Stock Exchange.
CDC Share Registrar Service launches e-Voting Service
Over the years, CDC has dedicated its services in designing and executing innovative solutions to aid the process of digitization and further contribute to the transformation of the Pakistan Capital Market.
After the promulgation of Companies (Postal) Ballot Regulations, 2018, CDC Share Registrar service has launched an e-Voting facility which has recently been developed in house. This will enable shareholders to cast their votes pertaining to company resolution(s) and elect directors electronically during general meetings.
SECP Chairman visits CDC House
Chairman SECP, Mr. Farrukh H. Sabzwari, recently visited CDC House on Thursday, January 17, 2019. Mr. Sabzwari was accompanied by Mr. Shauzab Ali, Commissioner Securities Market Division, International Relations Department and Specialized Companies Division (Supervision & Enforcement Department), SECP and Ms. Musarat Jabeen, Executive Director, SECP.