Modaraba Al Mali to be merged with DCCL

April 03, 2023 (MLN): The Board of Directors (BoD) of the Modaraba Company, on behalf of Modaraba Al-Mali (MODAM) has decided to merge Modaraba Al Mali, with and into Digital Custodian Company Limited (DCCL), the company's filing on PSX revealed today. 

Upon the completion of merger/amalgamation through the intended Scheme, the MODAM will be dissolved under the Order of the Honorable Lahore High Court, Lahore without winding up, and the issuance of shares of DCCL to the registered members/certificate-holders of MODAM.

Being a licensed/ registered custodian/Trust company, DCCL is bestowed with a statutory mandate for separately holding and accounting the clients/investors’ assets away from the control of the fund managers/issuers and obligated to act as an independent supervisor for the security of the assets placed under its watch by the Investment Advisors, Debt Securities Issuers and Managers of the Specialized Funds/Discretionary Portfolios & Specially Managed Accounts.

DCCL is the only Trustee company that is also offering Digitized Shares Registry (Corporate Share Registrar) Services.

In this way, DCCL, by providing trustee/custodial/registry/repository functions of a variety of assets defined in the NBFC Rules, acts as the pioneer in the digital management and transfers of assets via its smart-ledgers technology.

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