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IFMP Quarterly QUARTERLY JUNE 2021 ARTICLE ON MESSAGE FROM THE CEO THE FUTURE OF BANCAS- SURANCE SECTOR IN INTRODUCTION TO THE INSTITUTE PAKISTAN IFMP ACTIVITIES INDUSTRY PROFESSIONALS’ INTERVIEW ARTICLE TERMS OF THE MONTH BUSINESS AND ECONOMIC NEWSFLASH URDU GLOSSARYTERMS OF THE MONTH FEEDBACKS BUSINESS AND ECONOMIC NEWSFLASH MARKETS IN REVIEW URDU GLOSSARY Your Gateway to Careers in Financial Markets QUOTES AND JOKES Institute of FinancialMARKETS Markets IN REVIEW of Pakistan Address: Building 9-A, 2nd Floor, P.E.C.H.S Block No. 6, Shahrah-e-Faisal Karachi. Tel: +92 (21) 34540843-44 00 CONTENT Message from the CEO Page: 1 Introduction to the Institute Page: 2 IFMP Activities Page: 3 Industry Professionals’ Interview Page: 4 Featured Article Page: 6 Article from IFMP Member Page: 18 Terms of the Quarter Page: 22 Business and Economic Newsflash (Local) Page: 23 Business and Economic Newsflash (International) Page: 34 Regulatory Updates Page: 47 Urdu Glossary Page: 52 Investment Quotes Page: 53 Feedbacks Page: 54 Markets in Review Page: 55 www.ifmp.org.pk 92 (21) 34540843-44 [email protected] Message from the Chief Executive Officer 01 he last few years have seen a rapid growth in size, quality and sophistication of finan- T cial markets, because of changes in the policy and regulatory environment, the entre- preneurial initiatives of individuals and institutions, and the availability of trained man- power. The continuing growth of financial markets is further adding to the demand for well-trained professionals. Institute of Financial Markets of Pakistan is dedicated to the professional development of financial markets and research on financial markets as well as the well being of financial markets by educating the professionals about the norms and ethics being practiced in the markets. IFMP has had a pioneering role in meeting the demand for educated manpower. It is Pakistan's first specialized institution devoted to the education and updating of knowledge of manpower for financial markets. It will provide high-quality educational standards for all types of financial market participants; investors, brokers, mutual funds, investment banks and policy makers. The Institute's main activities are (1) Licensing the professionals working in the financial markets by certifications. The institute’s key responsibility is to educate the professionals working in different financial markets of Pakistan through examining their knowledge in their relevant field of work; (2) Studying the latest developments in the financial markets in order to discover whether there is such a thing as an ideal market economy; and (3) Contributing to the development of financial markets in Pakistan. By means of these three activities the Institute seeks to communicate its ideas to the audience both at home and overseas. The Institute's research is intended, first and foremost, to be neutral, profes- sional and practical. Rooted in practice, it aims to contribute to the healthy development of Pakistani financial markets as well as to related policies by conducting neutral and pro- fessional studies of how these markets and the financial system are regulated and orga- nized and how they perform. The economy is changing all the time. The Institute hopes that, by responding to these changes positively, it can contribute to the dynamic development of the country's finan- cial markets as well as of the economy itself. ◊ SECOND QUARTERLY 2021 IFMP Introduction to the Institute 02 The Institute of Financial Markets of Pakistan (IFMP), Pakistan’s first securities market institute, has been established as a permanent platform to de- velop quality human capital, meet the emerging professional knowledge needs of financial markets and create standards among market professionals. The Insti- tute has been envisioned to conduct various licensing examinations leading to certifications for different segments of the financial markets. IFMP develops a pool of trained and certified professionals, skilled not only to deal in convention- al instruments but also to trade in new and complex financial market products. ◊ FEE STRUCTURE ◊ ◊ EXAMINATION SCHEDULE ◊ Candidate Registration Fee Rs.10,000 Sunday, July 25, 2021 Examination Registration Fee Rs.7,000 Sunday, September 26, 2021 Membership Fee (Annual) Rs.5,000 Sunday, November 28, 2021 Study Guide (Hard Copy) Rs.800 PROGRAMMES LICENSING CERTIFICATIONS INSURANCE CERTIFICATIONS SPECIALIZED CERTIFICA- Fundamentals of Capital Markets Certifica- General Takaful Agents Financial Derivative Traders Certification Certification tion Compliance Officers Certification Family Takaful Agents Pakistan’s Market Regulations Certification Clearing and Settlement Operations Certification Certification Stock Brokers Certification Risk Management Certification Life Insurance Agents Mutual Funds Distributors Certification Capital Budgeting and Corporate Finance Certification Commodity Brokers Certification Certification Non-Life Insurance Agents Financial Analysts Certification Certification Investment Banking and Analysis Certification Mutual Funds Basic Certification Bancassurance Certification Islamic Finance Certification Securities and Futures Advisors’ Certification Bancatakaful Certification Fixed Income Certification Programme (Basic and Core Modules) Authorized Surveying Offic- AML/CFT Certification ers Certification ◊ SECOND QUARTERLY 2021 IFMP IFMP Activities 03 DATE PROGRAM TRAINER DURATION Stock Market Risks in the Financial Crisis/ 3rd April, 2021 Fahad Fahim 1 Hour Pandemic 6th to 10th April, Financial Modeling Mr. Shakoor 10 Hours 2021 10th April, 2021 IFRS 9 Mr. Hasan Marfani 2 Hours Mutual Fund Basic CertificationTraining for HBL 12th April 2021 Fahad Fahim 4 Hours Asset Management Prospects and Opportunities available in Financial Mr. Mobashar Sadik, CEO 6th May, 2021 1 Hour Markets of Pakistan IFMP Building the savings and pension culture for Mutu- 6th May, 2021 Tauseef Ahmed 1 Hour al Funds Non-Life Insurance Training & Examination for 27th May, 2021 Mr. Sharjeel Masood Khan 2 Hours Jubilee General and Habib Insurance Sumera Baloch - Addition- 29th May, 2021 AML/CFT Certification Training Batch 6 4 Hours al Director FMU, Govt. of Mr. Waseem Ahmed Khan, Director, Market Develop- ment, Policy and Regula- tions Department, SECP Mr. Nayyar Hussain, Direc- tor Policy Regulation and Development Department, SECP Workshop on Bancassurance & Bancatakaful in Mr. Ch. Anjum Rashid, Di- 31st May, 2021 2 Hours collaboration with SECP visional Head, Bancassur- ance Division, State Life Insurance Corp Mr. Mohammad Ali Ah- med, Chief Strategy Officer and Executive Director, EFU Life Assurance Ltd. Mr. Mobashar Sadik, CEO IFMP (Moderator) Understanding the requirements of fair dealing as 4th June, 2021 Faisal Dhedhi 1 Hour an equity sales person (Stock Brokers) Non-Life Insurance Training & Examination for June, 2021 Mr. Sharjeel Masood Khan 2 Hours United Insurance Muhammad Usman - As- An update on AML/ CFT Regulations - Meeting Ul- 24th June, 2021 sistant Director, AML De- 3 Hours timate Beneficial Ownership Requirements partment, SECP ◊ SECOND QUARTERLY 2021 IFMP 04 Interview of mr. bilal Farooq zardi Tell us about your career journey? Mr. Bilal Farooq Zardi is the Secre- Many people have career goals to earn awards, tary General (SG) of Pakistan winning competitions, and get recognition within Stock Brokers Association (PSBA). their fields. Some awards and experiences are seen He holds a masters degree in In- as a standard of success and excellence in a line of ternational Relations and multiple work. My career journey is full of experiences that I certifications on working ethics have gained while serving in different industries in and disciplines. Pakistan. Throughout my career, I found that con- tinuous learning is the most important element of He brings with him a range of professional, board-level success. and senior management industry experience that spans almost a decade. His areas of expertise are business de- velopment, marketing, operations, corporate laws, secre- What coaching tips will you give to tarial practices, audit and finance, and legal matters of other Secretary Generals to stay vigi- the company. He has worked in a number of senior roles lant and skillful being the face of the and has brought with him valuable skills and experience associations? of senior management. Being the face of the Association, his area of responsibilities also includes overseeing the To stay vigilant we should be learning from the past, and paying attention as to what matters most. operations and representing the Association in all the And to stay skillful, we should remain engaged matters before the concerned authorities. with Industry Experts as we can serve more effec- In addition, he has served in various committees, formed tively with an experience that cannot be gained for the development of Pakistan’s capital market. He has alone. Being the face of the Organization, we played an instrumental role in forming of this federal should always have a positive attitude and the re- based organization to represent its members on all- quired skills, it not only helps in meeting the chal- Pakistan basis. He has also expertise in policymak- lenges but also helps in determining how to im- ing, managing the teams, compliance function, and en- prove performance and grow the organization to suring timely deliveries. He is involved in liaising with pro- meet its objectives and to reach its goals. vincial and government authorities in various matters per- What
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