Regulatory Alerts2025-10-23
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Circular No. 6 of 2025 Valuation of CDS Eligible Listed GDS
All Collective Investment Schemes must use GIS Revaluation Rates disseminated by the Pakistan Stock Exchange Limited to value CDS Eligible Government of Pakistan Ijarah Sukuk listed on the exchange. This valuation requirement applies with immediate effect under the authority of Section 282B(3) of the Companies Ordinance, 1984 and Regulation 66(1) of the Non-Banking Finance Companies and Notified Entities Regulations, 2008.
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
SPECIALIZED COMPANIES DIVISION
FUND MANAGEMENT DEPARTMENT
No. SCD/PRDD/CIRCULAR/199/2025
Islamabad, February 04, 2025
Circular No. 6 / 2025
Subject: Calculation of Net Asset Value by Collective Investment Schemes - Valuation of CDS Eligible Government Debt Securities (GDS) listed on Pakistan Stock Exchange Limited.
The Securities and Exchange Commission of Pakistan (the "Commission"), in the exercise of its powers under Section 282B(3) of the Companies Ordinance, 1984 read with Regulation 66(1) of the Non-Banking Finance Companies and Notified Entities Regulations, 2008 (the "Regulations"), hereby specifies that all Collective Investment Schemes ("CIS") shall use GIS Revaluation Rates disseminated by the Pakistan Stock Exchange Limited for valuation of CDS Eligible Government of Pakistan Ijarah Sukufs which are listed on the Pakistan Stock Exchange Limited with immediate effect.
Commissioner (SCD)
Distribution:
- SECP officer website
- Mutual Fund Association of Pakistan
- Trustee(s)
- Office Copy
NIC Building, 63 Jinnah Avenue, Blue Area, Islamabad.
Tel: 051-9237001-7, Fax No. 051-9200473