Regulatory Alerts2000-04-20
Added · Updated
Additional Conditions No. 1/2000 to Modaraba Authorization Certificate
The Securities and Exchange Commission of Pakistan introduces Prudential Regulations for Modarabas, transferring regulatory oversight from the State Bank of Pakistan. All Modaraba business transactions must conform to these new regulations, which come into immediate effect. Entities are required to align their affairs and operations with the rules by June 30, 2000, with violations subject to the Modaraba Ordinance, 1980.
Topics
islamic-finance
licensing
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