RegAlertRule · SECP · 28 Jan 2022
Instruments or Investments in Addition to Shariah Compliant Government Securities
The Securities and Exchange Commission of Pakistan has notified additional permissible instruments or investments under clause (g) of sub-regulation 4 of regulation 17 of the Modaraba Regulations, 2021. Modarabas may now invest in Islamic income and money market funds rated AA-, Shariah compliant listed Sukuk/TFCs rated A or above, and Shariah compliant bank accounts rated A or above, in addition to Shariah compliant government securities.
TO BE PUBLISHED IN PART-II OF THE GAZETTE OF PAKISTAN GOVERNMENT OF PAKISTAN SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN .-.-.
Islamabad, the 19 th January 2022
NOTIFICATION
S.R.O. 121 (I)/2022. __ In exercise of the powers conferred by section 41B of the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980) read with clause (g) of sub-regulation 4 of regulation 17 of the Modaraba Regulations, 2021, the Securities and Exchange Commission of Pakistan is pleased to notify the following instruments or investments, in addition to Shariah compliant government securities under clause (g) of sub-regulation 4 of regulation 17 of the Modaraba Regulations, 2021:
a) Islamic income and money market funds with a rating of AA-;
b) Shariah compliant listed Sukuk/TFCs rated “A” or above; and
c) Shariah compliant bank accounts rated “A” or above.
______________________________________________________________________________ [File No. SC/M/PRDD/NBFI/2022]
( Bilal Rasul )
Secretary to the Commission
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The links and the sentences they come from (2)
- Issued under
- Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980)Not in RegAlert
“In exercise of the powers conferred by section 41B of the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 (XXXI of 1980)”
- Modaraba Regulations, 2021Not in RegAlert
“read with clause (g) of sub-regulation 4 of regulation 17 of the Modaraba Regulations, 2021”
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