Central Depository Company achieves milestone when securities under its custody crossed one billion mark
Karachi, October 30, 2012 (PPI-OT): The Central Depository Company of Pakistan Limited achieved a unique milestone recently when securities under its custody crossed one billion mark. The market value of these securities is over Rs. 2.0 trillion, which roughly comes to 21.8 billion dollars, exceeding even the foreign exchange reserve of the country by a good margin.
It is a tremendous achievement for a company that started operations just fifteen years ago to successfully de-materialize the entire capital market of Pakistan thereby enabling electronic settlement of trades executed at stock exchanges of Pakistan.
Over the years, CDC has set new standards in the service industry of the country by introducing innovative customer centric services which has changed the financial landscape of the country by stimulating unprecedented capital market growth. CDC has deployed state of the systems to ensure smooth functioning and safety of securities under its control.
The Chief Executive Officer of CDC, Mr. Hanif Jakhura, while explaining the phenomenal success of the company said ‘ we completely understand the responsibility bestowed on us by our clients to be ‘ameen’ of their securities and will therefore continue to invest in technology and follow best practices to ensure that client assets are safe at all times.
We not only have deployed multiple security layers to ensure safety of securities under our custody, we also promise business continuity (in case of an eventuality) within hours. In other words, not only your securities are safe with us and you can access them on real time, on-line basis, you can access your account within a few hours even in case of a major disaster. Such initiatives are the reason that our clients have total confidence on our abilities and services’.
In addition to depository services, CDC has diversified its operations in Information Technology Consultancy, Share Registrar Services and enjoys over 80% market share of Trustee and Custodial business of the country.
For more information contact:
Central Depository Company of Pakistan Limited
8th Floor, Karachi Stock Exchange Building,
Stock Exchange Road, Karachi.
Tel: (92-21) 32416774
Fax: (92-21) 32444491