Day: July 20, 2022

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SECP declares Right of Use Assets as Admissible Assets for insurer’s solvency 

Islamabad, July 20, 2022 (PPI-OT):The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Insurance Rules, 2017 devising admissibility requirements of Right of Use Assets. Under International Financial Reporting Standard 16 (IFRS 16 – Leases), insurers are required to recognize a right of use liability (“ROU Liability”)

SECP notifies amendments to the Credit and Surety ship (Conduct of Business) Rules, 2018 

Islamabad, July 20, 2022 (PPI-OT):To promote implementation of sound principles of risk management in credit and suretyship businesses of insurance companies, Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Credit and Suretyship (Conduct of Business) Rules, 2018 vide S.R.O. 1010 (I)/2022. The amendments require insurance companies

SECP enhances investment limits for insurance companies to invest in ETFs 

Islamabad, July 20, 2022 (PPI-OT):The Securities and Exchange Commission of Pakistan (SECP), to encourage participation of insurance companies in the Exchange Traded Fund (ETF) market, has allowed insurance companies to invest in open-ended mutual funds including ETFs. After these new amendments to the Insurance Rules, 2017, the insurance companies have

Chairman PTA speaks at APT Policy and regulatory forum 2022 

Islamabad, July 20, 2022 (PPI-OT):Chairman PTA, Maj. Gen. Amir Azeem Bajwa (R) spoke virtually at the Regulators’ Roundtable of the 22nd APT Policy and Regulatory Forum 2022 organized by Asia-Pacific Telecommunity (APT). Chairman PTA briefed the audience about PTA’s regulatory achievements and cross-sectorial collaborations with other government bodies and private

Prime Minister convenes emergency meeting regarding economic situation of country

Islamabad, July 20, 2022 (PPI-OT):Prime Minister Shehbaz Sharif has convened an emergency meeting regarding economic situation of the country. It will be attended by the economic team and other high ranking officials. The meeting will discuss reasons behind the recent appreciation of dollar against the rupee and consider ways to

Implementation of IMF’s agreement must for reviving economy: Finance Minister 

Islamabad, July 20, 2022 (PPI-OT):Finance Minister Miftah Ismail says implementation of the agreement with International Monitory Fund is must for reviving the economy. Talking to a private television channel, he said the incumbent government is bound to fulfil the conditions under the soft agreement inked with IMF to save the