Media Category: News

CDC introduces eDividend facility

Continuing the trend of being at the forefront of innovation in capital market development, the Central Depository Company of Pakistan Limited became the pioneering institution in the country to introduce eDividend facility. This service enables issuers to electronically credit dividend amounts into bank accounts of shareholders directly without the need of any paper formalities or manual effort.

The first such transaction was executed for the dividend of Lucky Cement Limited through its banking partner. Innovative offering of services like this has enabled CDC to achieve another milestone in Share Registrar Services after exceeding 100 clients in a short span of time.

EFU Life and CDC Pakistan sign Memorandum of Understanding

Continuing our long standing tradition of collaborating with the corporate community for better access to markets and customers, Central Depository Company of Pakistan Limited (CDC) has signed a Memorandum of Understanding with EFU Life Assurance Limited. This collaboration will be the first of its kind where insurance solutions will be offered to CDC customers and simultaneously CDC can increase its outreach by utilizing EFU Life’s branch network. This endeavour will help expand CDC’s outreach and ultimately facilitate customers in several cities across Pakistan.

The MoU signing ceremony for this initiative was held at CDC House Karachi in presence of senior officials from both organizations including Taher G. Sachak, CEO & MD EFU Life and Muhammad Hanif Jakhura, CEO-CDC. This joint endeavour marks the beginning of a strategically beneficial partnership between CDC and EFU which will yield returns not just for the two institutions but to the external community at large.

CDC’s Professional Development Initiatives

Partnership with ICAEW

CDC has entered into partnership with Institute of Chartered Accountants in England and Wales (ICAEW). By virtue of this partnership, the ICAEW will now recognize CDC experience as part of their CPD (Continuous Development Program). This partnership endorsed CDC’s commitment and resolve for continuous human capital development under their umbrella.

Management Trainee Program 2014-15

For the second year in running, CDC concluded its Management Trainee Program recruitment cycle in the month of August. A total of five aspiring candidates were hired for inter-department rotational training. The candidates went through a rigorous recruitment process consisting of a written test, a group discussion, and interviews for selection. These diligent MTOs will undertake grass route training sessions and projects for the first half of their one year tenure, after which they will be shifted to relevant departments.

The objective of this program is twofold. On one hand it aims to facilitate the enhancement of a fast track career with the company via experiential learning. While on the other hand, it also aims to provide a thorough exposure of the capital market business to equip the candidates with essential skills necessary to become future business leaders.

Industry-Academia Collaboration Initiative – CDC Welcomes ICMAP

CDC’s Industry-Academia Collaboration Initiative aims to develop future leaders by equipping them with apt information about the country’s capital market and updating them about job requirements & investment opportunities. So far, students / institutions from various educational disciplines have been a part of this endeavor.

A delegation of ICMAP (Institute of Cost and Management Association of Pakistan) students visited CDC house on September 11th, 2014. A comprehensive presentation was conducted by the Product Development and Marketing department at CDC.

The audience was enlightened about the role and responsibility of CDC as a capital market infrastructure institution and as a preferred financial services provider. During the Q & A session, a number of queries were answered and several misconceptions were addressed.

Ms. Rehana Ali, (Deputy Director Education / Secretary Students’ Affairs Committee) of ICMAP, who was leading the delegation, praised CDC’s efforts and supported the idea of future collaborations between ICMAP and CDC.

CDC conducts Knowledge Sharing Sessions for Academic Institutions

CDC conducted knowledge sharing sessions for a number of educational institutions during the second quarter of 2014. Students and faculty members belonging to ICMAP, Bahria University and Maddarsah Jamia-tur Rasheed visited CDC and were imparted knowledge about the Capital Market business and CDC’s pivotal role and responsibility.

Mr. Farooq Ahmed Butt and Mr. Arif Ahmed from the Product Development and Marketing department at CDC conducted these sessions.

In intriguing debates the attendees inquired about the operations of stock market in light of trading, custody and settlement. Islamic modes of financial solutions for the capital market of Pakistan were also discussed at length. Refreshments were served after the sessions were concluded.

ICMAP (Cost Management Students), Bahria University (BBA students) and Scholarly students doing specialization in Islamic Fiscal Jurisprudence which is a 2-year specialization course for Sharia scholars in Islamic Finance, Trade, Banking, Takaful, Business Laws and Practices were the audience along with their respective faculty members.

CDC Trustee & Custodial Services welcomes NIUT on board

CDC has taken over the trusteeship of National Investment (Unit) Trust (NIUT), the First and Largest Mutual Fund of Pakistan. NIUT carries an investment portfolio of around Rs.64 billion, invested in over 385 listed companies with around 51,000 unit holders.

With NIUT on board, CDC sustained its legacy to act as the market leader in the business of trusteeship services and captured 94% of the market share hence winning the trust and confidence which the industry had reposed in it. With NIUT, Trustee and Custodial Services has outclassed all its previous records and crossed 459 billion in terms of net assets.