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Securities and Exchange Commission of Pakistan (SECP)

SECP permitted new life insurance product

ISLAMABAD:┬áThe Securities and Exchange Commission of Pakistan (SECP) has permitted a new life insurance product, which is operational with insurance related advance technological features including artificial intelligence and data analytics. According to a statement of SECP, "The product has been initiated by an insurance company along with a partnership with an international technology service provider. This product is one of the latest of its kind in Pakistan." The details revealed that, by means of this product, the…

SECP integrated 1,395 fresh companies in October 2018

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,395 new companies in October 2018, demonstrating a development of 63% as compared to the corresponding month of last financial year. Also, over 50% companies were registered within four hours after getting the registration application. According to the data, the overall number of companies registered with SECP has increased to 92,109. It is also observed that, the enormous augmentation in the registration is the outcome of SEPP's…

SECP implemented Shariah Governance Regulations 2018

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has imposed the Shariah Governance Regulations 2018, in order to fulfill the objective as per Article 38 (f) of the Constitution of Pakistan. According to press declaration, under the provided set of laws, no business is allowed to assert as Shariah compliant or as an Islamic financial institution until it acquire official recognition for Shariah compliance from the SECP. Furthermore, a certification will play vital role for issuing a Shariah…

Govt, FATF to sit for final negotiations on Monday

ISLAMABAD: Final negotiations between the Financial Action Task Force (FATF) and the government are scheduled to begin on Monday in the federal capital. During its visit from October 7-9, the FATF delegation will meet officials of the ministries of finance and interior, the financial monitoring unit, and the state bank . The administrative and legal measures taken by Pakistan to stop the monetary assistance of terrorists will also be reviewed by the foreign team, sources said. In this regard, a working paper has also…