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Media Category: News
A delegation from the US Consulate in Karachi, headed by Mr. Rob Silberstein, US Consul General in Karachi visited the Central Depository Company of Pakistan Limited (CDC) 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 the long term bilateral relations between US & Pakistan while stressing on the need to foster greater ties on business and trade initiatives. Mr. Badiuddin Akber, CEO-CDC, while giving an overview on the Pakistan Capital Market landscape and CDC’s key role in its development, while highlighting the association between CDC and its counterparts from the US Capital Market.
US Consul General Rob Silberstein lauded CDC on its achievements in transforming the Pakistani Capital Market. He said that “It is important to figure out how we actually bring the two sides closer together for the benefit of both countries. The fact that so much of Pakistan’s financial interest rests on these close people to people and business to business ties between the US and Pakistan is something that needs to be cherished. US and Pakistan should bring together expertise and technology, particularly for bigger future projects through more effective Public Private Partnership.”
A delegation from the British Deputy High Commission in Karachi, headed by Mr. Mike Nithavrianakis, British Deputy High Commissioner in Karachi visited CDC House on February 13, 2020. Mr. Moin M. Fudda, Chairman CDC Board of Directors, Mr. Badiuddin Akber, CEO-CDC, representatives of the senior management and renowned names in the business and corporate sector received the delegation and discussed trade relations between UK and Pakistan. Mr. Badiuddin Akber, CEO-CDC, briefed the UK Deputy High Commissioner regarding the achievements of CDC and the objectives it plans to achieve in the future. Mr. Nithavrianakis appreciated the remarkable work done by CDC and discussed scenarios that will further strengthen business ties between the two countries.
BankIslami Pakistan Limited (BIPL) and Central Depository Company of Pakistan Limited (CDC) have signed a Memorandum of Understanding (MoU) on Efficient Payment Mechanism (EPM) at CDC House, Karachi on November 04, 2019.
A salient feature of the MoU is the Cash Management Payment Services which is being offered by BIPL to CDC regarding the execution of transactions of Mutual Funds and Discretionary Portfolio clients through the integration of their system with CDC’s Fund Management System. Through this integration, transactions will be executed between these two systems with minimal human intervention through the modes of Inter-bank Fund Transfer, Online Transfer, RTGS and Pay Orders.
Dear Issuers / RTAs,
CDC has issued Circular No. 08 of 2019 dated June 28, 2019 in respect of automation of process for submission of R/TA reconciliation under Regulation 13.7 of the CDC Regulations, as attached for your information and compliance.
Chief Operating Officer