2022-09-13

Added 2026-07-28 · Updated 2026-08-03

The Modaraba Regulations, 2021-updated – August 15, 2022

The Securities and Exchange Commission of Pakistan amends the Modaraba Regulations 2021 to refine definitions and prudential requirements for modarabas. The updates delete specific provisions regarding REPO transactions and fund-based exposure limits, while establishing detailed criteria for subordinated funds, liquid assets, and exposure calculations. The regulations impose strict margin requirements on financed securities, mandate credit bureau checks for exposures exceeding five hundred thousand rupees, and cap customer exposure at ten times their equity.

Pakistan

Securities and Exchange Commission of Pakistan

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