The Securities & Exchange Commission of Pakistan (SECP) Chairman Mr. Zafar Hijazi formed a committee for Increasing Collaboration between Capital Market Entities to enhance awareness and increase outreach to smaller cities with Mr. Hanif Jakhura, CEO – CDC, being appointed as the convener of the committee.
The committee worked on various initiatives out of which one was the Establishment of Capital Market Business Hubs (CMBH).
The idea behind this novel concept is the development of a central site where all capital market related activities can be initiated. The purpose behind this endeavor is to expand the outreach of capital market institutions, especially in second tier cities.
The first such Hub has been established in Abbottabad with participation of 10 institutions which includes 5 AMCs, 2 brokerage houses, a stock exchange, 1 bank and CDC itself.