ISLAMABAD: Expressing his trust in the bourses’ soundness, the Securities and Exchange Commission of Pakistan (SECP) chairman, said that the risk management system at the exchanges remains robust.
Address the Institute of Chartered Accountants of Pakistan’s CFO conference “Sustaining Excellence: Shifting Gears”, Zafar Hijazi said that capital markets of Pakistan witnessed phenomenal growth and reached historic heights in terms of index levels as well as market capitalization in 2014.
He said the market capitalization peaked at $77.68b on February 3, 2015. He added that the rise in KSE-100 Index during the period was unprecedented, and hence we at the SECP were expecting some technical corrections.
He appreciated the ICAP’s step of organizing CFO conference, and said that such events not only provide an excellent forum for discussions but also help us to re-align our goals and objectives. He said that the regulator cannot work in isolation for the development of our financial market, thus it has great expectations from the corporate community, the CFOs and the auditors to achieve its objectives.
