PSX holds Gong ceremony for onboarding of Meezan Bank as Market Maker

F.P. Report

ISLAMABAD: A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to welcome Meezan Bank Limited onboard as a Market Maker for Shariah-compliant debt securities on PSX.

An agreement was signed between PSX and Meezan Bank Monday at PSX Trading Hall whereby Meezan Bank becomes the first Islamic bank to be recognized as Market Maker for Shariah-compliant debt instruments on PSX, according to statement of the bank received here.

The agreement was signed between Farrukh H Khan, MD & CEO, Pakistan Stock Exchange, and Ariful Islam, Deputy CEO, Meezan Bank.

Also present at the ceremony were the Board of Directors of PSX and senior management of both the organizations.

On this occasion, Farrukh Khan, the MD & CEO of PSX, said, that it was a welcome development whereby yet another bank was coming onboard as designated Market Maker for debt securities on PSX.

The fact that Meezan Bank, Pakistan’s leading Islamic Bank, is one of the first banks to be designated as Market Maker on PSX shows its commitment to the development of the capital market of the country.

“We are confident that the addition of Meezan Bank as Market Maker will add depth and growth to the debt market of Pakistan. I wholeheartedly congratulate and welcome them on their taking upon this new role as Market Maker,” he added.

The Deputy CEO of Meezan Bank, Ariful Islam, said that added, development of the Capital Markets was critical for the future growth and success of any economy.

He said, Meezan Bank was committed to the growth and expansion of Islamic finance through the introduction of new products, technological innovation and ease of accessibility for end users.