Standard Chartered becomes first commercial bank to obtain Securities Adviser license from SECP

Standard Chartered Bank (Pakistan) Limited (SCBPL) is the first Commercial Bank to obtain License to act as Securities Advisers for distribution of the units of Collective Investment Schemes and / or Voluntary Pension Funds by Securities and Exchange Commission of Pakistan (SECP).

Currently, SCBPL through its Wealth Management function, amongst other third party products is undertaking distribution of Funds via its Branches. SCBPL distributes funds for three Asset Management companies in Pakistan and they are: Al Meezan Investment Management Limited, MCB-Arif Habib Savings & Investments Limited and UBL Fund Managers Limited.

Commenting on the licence, Mr. Muslim Reza Mooman, CFA, Head of Wealth Management, Standard Chartered Pakistan said, “We are proud to be the first Commercial Bank to be given a License to act as Securities Advisers for distribution of units of Collective Investment Schemes and / or Voluntary Pension Funds for multiple Asset Management Companies.  This license will allow us to offer the widest range of investment solutions to our clients. We urge our clients to take advantage and book time with our team of Investment Advisors, who can help to design tailor made solutions for the client needs.”

Standard Chartered holds more than ten years of wealth management experience, and has a skilled team of Advisors & Specialists who take pride in designing a suitable Client portfolio with prior emphasis on the need for Client suitability and risk profiling. The Bank offers a variety of Wealth Management options which includes Mutual Funds, Fixed Income, Bancassurance, Government Securities and Foreign Exchange solutions.