The continuous funding system (CFS) took off at the Karachi Stock Exchange on Monday with enthusiastic investor’s response, as the KSE-100 index gained 279 points. According to analysts, the CFS rate on Monday stood at 16.9 per cent with the level of investment at Rs16.3 billion.
KSE Chairman Yasin Lakhani told Dawn that the new system would fulfil the immediate liquidity need of the market and would create stabi [...]
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Tagged Badla, CFS, COT, KSE
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The Securities and Exchange Commission of Pakistan (SECP) has expressed inability to take action against leading brokers and financial institutions who were involved in the recent (March) stock market crash due to ‘defective’ laws.
The Commission also tabled a fresh list before the National Assembly Standing Committee on Finance containing names of 10 out of 60 brokers/financial institutions responsible [...]
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Tagged KSE, SECP
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In what is being seen as a landmark decision, the State Bank has allowed mutual funds operating in Pakistan to invest abroad. But initially the central bank has placed a cap of $15 million on such investment by a single mutual fund at a given time, says a circular issued by the Exchange Policy Department of the SBP on Saturday.
“This is a landmark decision,” says Mr. Jahangir Siddiqui who pioneered the open-end [...]
Sponsors of the Javed Omer Vohra & Company Limited (JOV & Co.) appears to have decided to quit the stock business, following sale of their controlling stake to Crescent Standard Brokerage and Investment Services Limited. A notice issued on Tuesday by another corporate member of the Lahore Stock Exchange Dosslani’s Securities (Pvt) Limited stated:
“Our clients have entered into an agreement wit [...]
