Islamabad, January 13, 2016 (PPI-OT): The Securities and Exchange Commission of Pakistan (SECP) in collaboration with United States Agency for International Development (USAID) is holding a three conference on Non-bank Financial Sector and Capital Markets at Karachi.
Mr Ashraf Mahmood Wathra, Governor State Bank of Pakistan inaugurated the conference. More than 250 participants including foreign and local financial sector experts, industry professionals and senior government officials are attending the conference.
The first two days have been divided into six different sessions and each session have been dedicated to a particular segment of Non-Bank Financial Sector which include Leasing, Investment banking, Micro Finance, Housing Finance, Mutual Funds and Modarabas. The third day of the conference has been allocated to deliberate the dynamics and outlook of our capital markets.
Chairman SECP in his address at the opening session welcomed all the participants of conference. He hoped that the conference would provide a platform to the policy makers, international experts and industry players to debate the challenges faced by our Non-Bank Financial sector and Capital Markets and suggest a way forward after taking into consideration the local industry dynamics and international best practices.
He said that this conference is part of SECP’s continuous efforts to improve overall business environment through consultative process which would benefit all the stakeholders including market participants and the regulator. He further said that SECP is constantly striving to promote investment in the country.
He emphasized that regulatory measures can help in ensuring provision of a conducive regulatory environment, however, real thrust has to come from the market participants and they need to look at regional and international best practices to offer suitable and cost-effective products to give investors a “fair deal” so that potential of financial markets should be fully explored.
Mr. John Groarke, Mission Director, USAID in his address said that USAID is proud to work with Pakistan government to strengthen the financial sector and increase private-sector access to finance. He apprised the participants that USAID is working with Pakistan on debt security issuance, strengthening the debt market and helping access to loans for micro, small and medium enterprises.
Governor State Bank of Pakistan in his inaugural speech congratulated SECP and USAID for holding this event. Governor SBP proposed that the Non-Bank Financial sector may consider to introduce deposit protection scheme for the depositors of Non-Bank Financial Institutions. He assured that SBP will provide full support in resolution of issues faced by Non-Bank Financial sector.
For more information, contact:
Shakil Ahmad Chaudhary
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +92-51-9214005 or +92-51-9214009 (Ext. 378)