ISLAMABAD: Pakistan Stock Exchange (PSX) along with numerous other exchanges and organisations across the world marked World Investor Week (WIW) 2023 through a gong ceremony held at PSX.
The World Federation of Exchanges (WFE), of which PSX is an Affiliate Exchange, spearheads the WIW, the WIW is being held from October 2– 8, 2023. PSX is holding this event and organising the WIW for the third consecutive year, said a press release issued here Monday.
Present at the gong ceremony were representatives from the SECP, leading academic institutions, professional bodies, and securities brokers, amongst others.
The week-long activities in World Investor Week are planned to promote the importance of financial literacy and to raise awareness about investor education and protection.
The objective is to encourage financial inclusion and foster learning opportunities for investors.
The gong was struck by the Chief Guests, Abdul Rehman Warraich, Commissioner, Securities Market Division, Supervision Division, Securities and Exchange Commission of Pakistan (SECP) and Shoaib Javed Hussain, CEO State Life Insurance Corporation of Pakistan (SLIC), along with the PSX Board member(s) and MD and CEO PSX Farrukh H. Khan.
The gong was struck amidst the presence of senior management of PSX and heads of leading brokerage houses, to officially mark the beginning of the week-long World Investor Week and to open the trading day.
Welcoming the guests at the occasion, the MD PSX stated, “The PSX welcomes you all in marking the World Investor Week. It is a matter of great satisfaction that all the SROs and stakeholders have also come forward to participate and play their role in World Investor Week 2023. I want to thank the SECP for their leadership enabling us all to augment our efforts to promote financial literacy and investor awareness.”
He further stated, “As the capital market of Pakistan, PSX is fully focused and determined on disseminating financial education through consistent and constant efforts in the form of in-person sessions, webinars, courses, and workshops.
Pakistan Stock Exchange also effectively utilizes digital platforms through its investor education portal, virtual trading web-based application, financial glossary available on the PSX website and social media through its media channels to disseminate financial education and awareness.
The 20-year return of KSE 100 is well above 15 percent per annum in dollar terms. Very few asset classes in the world give such a return. This is true of equities globally. So to learn and understand investing on the stock market is of crucial importance especially for the youth who can start early and maximise investment returns in time. We are confident that our efforts to impart investor education and awareness will help raise the level of financial literacy amongst the general public which will not only benefit the investors themselves but will also help strengthen the economy.”
Speaking at the occasion, chief guest, Abdul Rehman Warraich, Commissioner, Securities Market Division, Supervision Division, SECP, stated, “Investor education and awareness are among the most effective and least controversial approaches that a financial regulator like SECP can adopt for achieving the objectives of financial inclusion, investor protection and investor confidence. SECP intends to set up a Fund with regular contributions from various regulated and self-regulatory institutions.
The Fund will spend these resources primarily on promoting investor education and awareness through print, electronic and social media, and educational and training programs by strengthening institutions like IFMP.”
He added, “Transparency and good governance in the corporate sector are necessary to complement the education and awareness campaign to foster investor confidence over the medium to long term. Financial institutions must invest the public money wisely and exercise their proxy voting rights responsibly. They must stand up for the issues involving transparency, good governance and investor protection. The need for enhancing insurance penetration can’t be emphasized enough. It is critical to manage the financial risks confronting the bulk of Pakistan’s population which comprises of middle and lower middle classes.
The stakeholders in the financial markets need to communicate on regular basis and learn from one another while making coordinated efforts towards the objectives that they all share.” Chief Guest, Shoaib Javed Hussain, CEO State Life Insurance Corporation of Pakistan, added, “Securing a financially sound and secure future relies on prioritizing long-term savings and investments. It is crucial to foster a savings culture that not only safeguards the financial well-being of individuals and families but also establishes a solid economic foundation for the country.
As an institution, State Life remains steadfast in supporting Pakistan’s capital markets, offering innovative protection and savings products for Pakistanis. We are committed to collaborating with regulators and government departments to develop lasting solutions that promote a culture of long-term savings.” (APP)