SBP, 1Link lift fund transfer limits for IPO transactions

August 30, 2024 (MLN): To facilitate investor participation in Initial Public Offerings (IPOs), 1Link, with the support of the central bank, has instructed all its member banks to remove limits on fund transfers for transactions executed through EIPO platforms.

Previously such electronic payments were subject to transactional limits imposed by the Banks. 

A Memo to this effect was issued by 1Link recently whereby all banks were instructed to remove the transactional capping for EIPOs.

This step will enable investors to invest in an IPO through the EIPO facility without being restricted by any transactional capping or limit.

The EIPO system is utilized to provide an end-to-end digitized experience to investors participating in the IPO through the EIPO platforms.

Speaking about the removal of transactional capping for EIPO transactions, Farrukh H. Khan, MD & CEO of PSX, stated, “Pakistan Stock Exchange continuously endeavors to facilitate investors, market participants and stakeholders.”

“It is in line with this ethos which PSX follows that today, with the cooperation of the CDC, and the support of the SECP as well as SBP, we have enabled the removal of capping on transaction limits for investors utilizing the EIPO platforms,” he added.

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