KARACHI: MCB-Arif Habib Savings and Investment Limited (MCB-AH) is proud to join the ranks of a select group of companies in Pakistan to claim GIPS® compliance. Developed and managed by CFA Institute, the Global Investment Performance Standards (GIPS®) is a set of standardised, industry-wide ethical principles that guide investment firms on how to calculate and present their investment results to clients and prospects. MCB-AH joins more than 1,230 firms globally that to be GIPS compliant.
“MCB-AH’s GIPS compliance is an encouraging shift and takes Pakistan’s asset management industry forward. Acquiring the compliance is quite an intensive task but we remained steadfast because we believe that this is an important step in not only uplifting the standard of our company but also of the asset management industry of the country. With GIPS® compliance institutional investors know that we take our obligation of fair and full disclosure of our performance seriously.” said MCB-AH CEO Saqib Saleem.
CFA Institute USA President and CEO Paul Smith CFA who was speaking at a lunch hosted by MCB-AH on November 23 at a gathering at a local hotel attended by Senior Corporate leadership, shared, “I am delighted by MCB-AH’s compliance to GIPS®. More investment firms need to conform to the highest standards of professional conduct and an industry-wide acceptance of GIPS that is a logical first step. This creates a transparent and fair investment performance reporting to prospective clients and at the same time helps improve the integrity of the financial industry. The compliance also assures foreign investors considering investing in Pakistan, making them feel more secure”.
Investors can better rely on the performance presentations given by GIPS®-compliant firms because claiming compliance with the GIPS standards demonstrates a firm-wide commitment to ethical best principles of fair representation and full disclosure and guarantees that the firm employs strong internal control processes.The GIPS standards benefit two main groups, investment management firms and their current and potential investing clients (including the investment consultants whose job is to evaluate, supervise, hire, and dismiss investment management firms on behalf of those clients).
Arif Habib is a big time cheater in Pakistan Economy.
God Bless Pakistan.