January 06, 2023 (MLN): The Chairman Securities and Exchange Commission of Pakistan (SECP) Akif Saeed emphasized on using digital technology for growth of the retail investors in mutual funds, a notice issued by SECP on Thursday showed.
A meeting was held between Chairman SECP Akif Saeed and senior management of Mutual Funds Association of Pakistan (MUFAP) and NBFI and Modaraba Association on Thursday.
The Chairman Akif Saeed has reviewed the progress and timelines on the conversion of MUFAP into SRO and digitalization of the AML/KYC requirements etc.
He stressed the need for introducing new products particularly for retail investors, increasing digital on boarding of small investors.
Further, the senior management from NBFI and Modaraba Association Basheer A. Chowdry, is seeking SECP’s support for the inclusion of the NBFI and Modaraba sectors in concessional schemes of the SBP for SME financing.
The Chairman SECP assured its support, particularly for the promotion of Islamic finance through the Modaraba segment.
