Capital market: SECP chairman urges more transparency
Says safeguarding investors’ interest should be top priority for regulators.
SECP Chairman says safeguarding investors’ interest should be top priority for regulators.
KARACHI:
Securities and Exchange Commission of Pakistan (SECP) Chairman Muhammad Zafarul Haq Hijazi has emphasised the need to make Pakistan’s capital market more vibrant, transparent and effective to cater to the long-term funding needs of the industry.
Speaking during his visit to the Karachi Stock Exchange (KSE) on Friday, he said safeguarding the investors’ interest should be a top priority for regulators.
Hijazi said it was important for the frontline regulators to carry out their responsibility with diligence and ensure that prescribed regulations were being followed by market participants.
Calling for close interaction among the apex regulator (SECP) and the three stock exchanges operating in Pakistan (frontline regulators), he said their objectives were common. It is imperative to build the confidence of investors in the capital market so that the size and vibrancy of the market can be expanded many folds from its narrow base, he added.
He asked the board and management of the KSE to move forward with confidence to take the capital market to the next level. He said transparency and systemisation of the decision-making process at the SECP and the exchanges was his first priority along with strengthening the capacity of frontline regulators.
While expressing his desire to build a consensus-based decision-making process, he assured KSE directors that the SECP’s approach will be to consult with all stakeholders in policy and regulatory matters.
Published in The Express Tribune, March 14th, 2015.
Securities and Exchange Commission of Pakistan (SECP) Chairman Muhammad Zafarul Haq Hijazi has emphasised the need to make Pakistan’s capital market more vibrant, transparent and effective to cater to the long-term funding needs of the industry.
Speaking during his visit to the Karachi Stock Exchange (KSE) on Friday, he said safeguarding the investors’ interest should be a top priority for regulators.
Hijazi said it was important for the frontline regulators to carry out their responsibility with diligence and ensure that prescribed regulations were being followed by market participants.
Calling for close interaction among the apex regulator (SECP) and the three stock exchanges operating in Pakistan (frontline regulators), he said their objectives were common. It is imperative to build the confidence of investors in the capital market so that the size and vibrancy of the market can be expanded many folds from its narrow base, he added.
He asked the board and management of the KSE to move forward with confidence to take the capital market to the next level. He said transparency and systemisation of the decision-making process at the SECP and the exchanges was his first priority along with strengthening the capacity of frontline regulators.
While expressing his desire to build a consensus-based decision-making process, he assured KSE directors that the SECP’s approach will be to consult with all stakeholders in policy and regulatory matters.
Published in The Express Tribune, March 14th, 2015.