ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP)
has established an Islamic Finance Department for regulation and
development of the Islamic financial market.
The department will carry out the functions of Shariah regulation and compliance, product development, market awareness, Shariah securities market development and international liaison and networking.
It is pertinent to mention that at present the total Islamic financial assets of Pakistan have reached over Rs1.7 trillion, constituting around 10 percent of the total banking assets of Pakistan. Out of the total Islamic financial assets around 40 percent assets are directly or indirectly regulated by the SECP. They include mutual funds, modarabas, pension funds, takaful and sukuk.
Meanwhile, the SECP has also decided to restructure the Pakistan Mercantile Exchange Limited (PMEX) to improve its effectiveness and to provide farmers easy access to markets.
Read more at Click here / www.trade4x.net
The department will carry out the functions of Shariah regulation and compliance, product development, market awareness, Shariah securities market development and international liaison and networking.
It is pertinent to mention that at present the total Islamic financial assets of Pakistan have reached over Rs1.7 trillion, constituting around 10 percent of the total banking assets of Pakistan. Out of the total Islamic financial assets around 40 percent assets are directly or indirectly regulated by the SECP. They include mutual funds, modarabas, pension funds, takaful and sukuk.
Meanwhile, the SECP has also decided to restructure the Pakistan Mercantile Exchange Limited (PMEX) to improve its effectiveness and to provide farmers easy access to markets.
Read more at Click here / www.trade4x.net
No comments:
Post a Comment