KARACHI: Mutual Funds Association of Pakistan (MUFAP) and Central Depository Company of Pakistan (CDC), through its subsidiary ITMinds Limited, have signed a memorandum of understanding (MoU) for the development and implementation of a digital platform for the support of the mutual fund industry. Securities and Exchange Commission of Pakistan (SECP) Chairman Aamir Khan presided over the MoU signing ceremony held at the CDC House in Karachi. Addressing the occasion, SECP Chairman Aamir Khan said that the initiative is in line with the commission’s highly recommended course of action for the mutual fund industry which advocates the development of alternate distribution channels and digital platforms. “The recent circumstances induced by the pandemic make it all the more exigent for AMCs to undergo complete digital transformation,” he said. The event was also attended by the senior management of AMCs and other high ranking officials of the industry.

Source: Pakistan Today October 05, 2020 17:03 UTC