Friday, October 25, 2013

CDC Pakistan becomes ACG Secretariat for 3 years

The CDC head office at Karachi's Sharah-e-Faisal has been elected as a secretariat of the Asia-Pacific Central Securities Depositories Group (ACG), which is a representative body of Securities Depositories and Clearing Companies of the Asian region comprising of 32 institutions from 23 member countries including Australia, Japan, China, India and Pakistan. The announcement came as a high-point of the event since the other members of the EC included China, Japan, India, Singapore and Korea.

With this appointment, Muhammad Hanif Jakhura, the CEO of CDC Pakistan becomes the Chairman of Executive Committee of Asia-Pacific Central Securities Depositories Group (ACG) for a three year term and will also be representing the Asia-Pacific Region on the Executive Board of World Forum of CSDs (WFC), the global body of five regional CSD associations including Americas’ Central Securities Depositories Association (ACSDA), Association of Eurasian Central Securities Depositories (AECSD), European Central Securities Depositories Association (ECSDA), Africa and Middle East Depositories Association (AMEDA) and ACG.

He will serve on the Steering Committee of WFC 2015, a bi-annual global event of CSDs around the world. He will also be representing ACG on other platforms like International Securities Services Association (ISSA), Association of Global Custodians (AGC) and the Committee on Payment and Settlement Systems of the International Organization of Securities Commissions (CPSS-IOSCO).

Certainly, this is another celebration news for both Pakistan and the Karachi Stock Exchange (KSE) which is rallying in recent months.

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