KARACHI: Pakistan Stock Brokers Association (PSBA) announced on Wednesday that in accordance with the law applicable to the trade organizations it has completed all the legal formalities to be operational.
The Securities and Exchange Commission of Pakistan (SECP) has incorporated the association as required under Trade Organization Rules 2013, following the license granted by the Ministry of Commerce, PSBA said in a press release.
PSBA held its second meeting under the Chairmanship of Aqeel Karim Dhedhi in the presence of the members of Executive Committee, Azneem Bilwani, Hamad Nazir Kehar, Muhammad Adil Ghaffar, Muhammad Afzal, Muhammad Munir Khanani, Noman Abdul Majeed Adam, Yasir Mahmood, Zahid Latif Khan, and Secretary-General Bilal Farooq Zardi.
The association declared itself to be operational in its entirety, and the executive committee also discussed plans for the development of the capital market and protection of the rights of its members. The meeting emphasized exploiting the best possibilities for the promotion of the Stock Brokerage Industry.
The association has also decided to hold a formal event for the introduction of PSBA, and to honor the opening ceremony. PSBA has also requested Advisor to Prime Minister on Finance & Revenue to join them on this occasion. In addition, the members of the association, the officials from the mutual fund industry, banks as well as the board of directors of the exchange are also expected to attend the event.
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