Chairman SECP forms committee to develop ‘Capital Market Hubs’

KARACHI: Mr Zafar ul Haq Hijazi, Chairman The Securities and Exchange Commission of Pakistan (SECP) has formed a committee headed by Mr. Muhammad Hanif Jakhura, CEO-CDC which would be comprise of representatives of the stock exchanges, and asset management companies to develop a pilot project for setting up ' Capital Market Hubs' in small cities of Pakistan to attract savings for investments in capital market. SECP Chairman took this decision during his visit to CDC Head Office. Mr. Hijazi was accompanied by Mr. Zafar Abdullah, Commissioner - Securities Market Division-SECP and Mr. Imran Panjwani - Executive Director, Securities Market Division-SECP.

The SECP Chairman appreciated the initiatives of CDC and stressed on making efforts for creating investors' awareness and increasing the number of investors among the various facets of the society, including doctors, lawyers, accountants, small business-owners and students. The delegation was welcomed by Mr. Muhammad Hanif Jakhura, CEO - CDC, Chairman and members of CDC Board along with senior management team. The Chairman SECP was briefed about various initiatives taken by CDC with respect to investors' protection and capital market development. Furthermore, the state-of-the-art IT infrastructure and CDC's efforts in effectively implementing an Information Security Management System were also discussed and appreciated by SECP delegation.