March 13, 2024 (MLN): The Competition Commission of Pakistan (CCP) on Tuesday held a one-day workshop on Competition Law, tailored specifically to the microfinance banks that are associated with the cellular companies operating in Pakistan.

The participants included representatives from Mobilink Microfinance Bank Limited, U Microfinance Bank Limited, and Telenor Microfinance Bank Limited.

The event discussed the relevant provisions of the Competition Law pertaining to mergers & acquisitions, prohibited agreements, abuse of dominance, and deceptive marketing practices. 

CCP has conducted numerous sessions with various stakeholders, including companies, chambers of commerce & industry, academia, and business associations.

These sessions have proven instrumental in fostering awareness about competition law and promoting self-compliance.

As microfinance banks play a significant role in Pakistan's economy and are expanding their portfolios with new products being offered to the public, CCP organized this specialized session for them.

The participants were officials dealing with marketing, legal, compliance, risk management, investigation, branding, and financial affairs.

The workshop enhanced the knowledge of the participants on Competition Law and gave them practical insights into the provisions of the Competition Law.

A comprehensive discussion was held on the products being offered by microfinance banks on digital platforms and the matters that need to be given due consideration while marketing the products and describing terms and conditions to the customers

Salman Amin (Member) in his closing remarks expressed that the Commission is committed to ensuring free competition in all spheres of commercial and economic activities.

He also expressed that now a country’s competition index is an important factor, among other aspects, considered by international and local investors while investing or expanding their businesses in a country.

Copyright Mettis Link News

Posted on: 2024-03-13T14:13:22+05:00