Newsletter 74
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Quarterly Newsletter Central Depository Company A RICH NATION Gems Mining Gold Mining Salt Mining Coal Mining Nature has bestowed Pakistan with generous treasures of size emeralds in South Asia. Recently, a 2500 year old earring gemstones which make Pakistan prominent in the mineral was found in France to have an emerald that originated most world. The world's most desired colored gemstones, such as likely in these Mingora mines. Sometimes locals have also Ruby, Emerald, Sapphire, Topaz, Aquamarine, Peridot, found this gemstone in the Swat River. Amethyst, Morganite, Zoisite, Spinel, Sphene, and Tourmaline, are found in Pakistan. The northern and northwestern parts of Being the sole depository in Pakistan, established and Pakistan are shrouded by the three world-famous mountain functioning since the last two decades, CDC has a scintillating ranges of Hindukush, Himalaya, and Karakorum. In these prominence in the Capital Market of Pakistan. It is undoubtedly mountains are found nearly all the minerals Pakistan currently a precious gemstone of the Capital Market infrastructure, with offers to the world market, including these precious gemstones. an excellent reputation and legacy of upholding the principles of reliability, trust and integrity. CDC’s perseverance to One of these enthusiastically glittering gems, Swat Emerald, is maintain and ensure complete investor confidence and its hexagonal in shape and has transparent, deep sea green colour. providence to stay abreast with technological advancement The Mingora mines in Swat Valley host some of the best, small makes it a unique gemstone of the Pakistan Capital Market. Head Office: Lahore Branch: CDC House, 99-B, Block ‘B’, S.M.C.H.S., Main Mezzanine Floor, South Tower, LSE Plaza, 19 Shahrah-e-Faisal, Karachi - 74400. Khayaban-e-Aiwan-e-Iqbal, Lahore-54000, Pakistan Tel: (92-21) 111-111-500 I Fax: (92-21) 34326031 Tel: (92-42) 36368000-3 I Fax: (92-42) 36368484-5 PSX Branch: Email: [email protected] Mezzanine Floor, Pakistan Stock Exchange Building, URL: www.cdcpakistan.com Stock Exchange Road, Karachi. Tel: (92-21) 32416774 I Fax: (92-21) 32444491 Customer Support Services: 0800 – 23275 (CDCPL) Islamabad Branch: Room # 410, 4th Floor, ISE Towers REIT Management For Overseas Callers: +92 (21) 34326038 Limited, 55-B, Jinnah Avenue, Blue Area, Islamabad. Tel: (92-51) 2895456-9 I Fax: (92-51) 2895454 Contents Mr. Badiuddin Akber takes charge as CEO of Central Depository Company of Pakistan Limited 01 CDC organizes a Dialogue over Breakfast on Information Security 02 CDC planning to team up with Telenor to facilitate Investors for account verication 03 Invest in Government Debt Securities using CDC’s IPS Account Services 04 Students of The Deaf Reach School visit CDC 05 Investor Awareness Initiatives 05 CDS Updates and Regulatory Changes 06 Notice Board 07 Statistical Highlights 08 THE CUSTODIANSLATE Mr. Badiuddin Akber takes charge as CEO of Central Depository Company of Pakistan Limited r. Badiuddin Akber of finance and operations in recently took charge as the renowned conglomerates in Chief Executive Officer of Pakistan including Head of Finance Mthe Central Depository Company of and Company Secretary positions. Pakistan Limited (CDC) from January 01, 2019, subsequent to He has previously served as CFO formal approval by the Securities and Chief Operating Officer at the and Exchange Commission of National Clearing Company of Pakistan. He was previously serving Pakistan Limited. He has also CDC as the Chief Compliance and worked for the well-known ASG Risk Officer since June 2015 before Shorewood Packaging-International being elevated to the position of Papers in Toronto as Senior CEO. Financial Analyst. He has also served on various committees This key appointment has been formed by the Securities and made while taking into Exchange Commission of Pakistan consideration that CDC is a and the stock exchange from time to fundamental capital market time. At CDC, while serving as the institution which is considered as Chief Compliance and Risk Officer, the Infrastructure Backbone of the he was also the nominated Pakistan Capital Market. It is also Chairman of the Oversight credited for the revolution that has Committee formed by the SECP brought transparency, credibility under Joint Inspection Regulations, and efficiency to the market 2015. mechanisms. As the only securities He is a Fellow Member of the depository in the country, CDC is He has extensive expertise in Institute of Cost & Management entrusted with maintaining Financial Management, Clearing & Accountants of Pakistan (ICMAP). book-entry securities worth trillions Settlement, Risk Management, He also holds ACMA-CGMA of rupees and manages a diversified Operations, Product Development (Chartered Global Management portfolio of businesses including and Project Management in the Accountants) qualification from the Trustee & Custodial Services, Share Pakistan Capital Market. Chartered Institute of Management Registrar Services and IT backed Accountants (CIMA – UK) and Business Process Outsourcing He has played a key role in the qualification of Chartered services. implementation of various Professional Accountant (CPA, CMA significant products, services and – Ontario, Canada). This is the third time in a row that reform measures which include the CEO of CDC has been selected Revamping of Capital Gain Tax from within its senior management. Regime, Unique Identification It is a testament of the company’s Number (UIN), Institutions’ Risk effective succession planning and Management System, Straight also an expression of continued trust Through Processing of Market by the board of directors of the Settlements, and in the introduction company on the senior of Leverage Products such as management. Margin Financing, Margin Trading and Securities Lending & Mr. Akber has 20 years of senior Borrowing. management experience in the fields 01 THE CUSTODIANSLATE CDC organizes a Dialogue over Breakfast on Information Security ince inception, CDC has that secures and assists the flow of Banking and Digital Initiatives - worked fervently to information and valuable data, Meezan Bank Limited and Mr. Amir transform and develop contributing greatly to the success of Hashmi, Chief Technology Officer - PakistanS Capital Market. Moreover, almost every business. Being an CDC were among the few names CDC has always adopted a organization catering to public that shared their expertise and collaborative approach to inculcate interest, CDC brought together thoughts on the occasion. global best practices and elevate the bright minds to debate and discuss country’s capital market status, both on avenues associated with Representatives from the broker locally and internationally. Information Security that are sure to community as well as champions of foster comprehension, deliberation IT departments in several asset To further contribute towards and inspiration. management companies were developing the capital market of invited to share their feedback and Pakistan and promoting The event began with a breakfast, enlighten the audience. This collaboration, CDC recently followed by presentation on CDC’s initiative was highly appreciated by launched a “Dialogue over IT Security Regime by Syed Hassan all the participants and their Breakfast” series. The core objective Aslam, Chief Information Security organizations, as the topic under of this series is to promote a culture Officer - CDC. Later, an interactive discussion was selected in view of of information sharing and panel discussion was conducted. the issues of data & information discussion over some of the critical Prominent names were invited to theft and related hindrances being issues the market experiences today. take part in this industry-wide incurred by financial institutions discussion to help identify best that jeopardizes their reputation in To launch the series, CDC chose practices being undertaken on both the local market in terms of Information Security as the topic of the local and international platforms confidentiality and data protection. discussion for the first event. Living in the area of Information Security. in the 21st century, there is a Mr. Saad Kaliya, Partner, continuous threat of confidential Technology Consulting and Risk data being compromised. Assurance - A. F. Ferguson & Co., Information Security is the seam Mr. Ali Khan, Head of Branchless 02 THE CUSTODIANSLATE CDC planning to team up with Telenor to facilitate Investors for account verication DC has been constantly provided with real-time introducing novel digital tooltips regarding the solutions like eIPO, requisites of completing CeDividend Repository etc. to facilitate the account opening form, investors and transform the Capital limiting the potential of Market infrastructure, making it more discrepancies and errors. efficient and robust. With a similar aim, CDC recently launched its Digital After successful completion Account Opening Solution for of the online form, an Investor Account Services.This investor will be required facility was envisaged with the to visit any of the CDC objective of facilitating both Offices only once for investors and CDC Participants In-Person Verification through the use of technology to make IPV). Currently, Digital the CDC Account Opening process Account Opening facility more efficient and user friendly. This is available for Individual solution aims to help reduce and Resident Pakistanis, Non ultimately eliminate the need for visits Resident Pakistanis and by investors to CDC premises