SECP grants certificate of incorporation to MEBL's exchange company

MG News | November 15, 2023 at 11:29 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

November 15, 2023 (MLN): The Securities & Exchange Commission of Pakistan (SECP) has issued the Certificate of Incorporation to Meezan Exchange Company (Private) Limited, a fully-owned subsidiary of Meezan Bank Limited (PSX: MEBL), the bank’s filing on the local bourse revealed today.

This authorization follows the issuance of a No Objection Certificate (NOC) by the State Bank of Pakistan (SBP) to MEBL for the establishment of its exchange company.

As the next step in the process, the application will now be submitted to the State Bank of Pakistan (SBP) for issuance of the license to commence operations, as per the SBP Exchange Companies Manual.

It is important to mention that this development comes after the central bank authorized all leading banks actively engaged in foreign exchange business to establish wholly owned ECs to cater to the legitimate foreign exchange needs of the general public.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	181,430.02 376.06M	-0.19% -346.57
ALLSHR	109,168.67 713.66M	-0.13% -139.83
KSE30	54,263.26 125.13M	-0.24% -128.56
KMI30	255,651.73 86.61M	-0.19% -483.04
KMIALLSHR	69,991.04 446.60M	-0.05% -33.30
BKTi	52,205.98 60.34M	-0.31% -161.74
OGTi	35,363.45 11.64M	0.17% 60.63

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	65,305.00	65,355.00 65,035.00	130.00 0.20%
BRENT CRUDE	82.38	84.44 81.50	-0.11 -0.13%
RICHARDS BAY COAL MONTHLY	105.50	105.50 105.50	-0.25 -0.24%
ROTTERDAM COAL MONTHLY	116.25	117.00 116.25	-0.10 -0.09%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	77.08	78.77 76.53	-0.21 -0.27%
SUGAR #11 WORLD	16.49	16.50 15.49	0.92 5.91%