Task force on illegal brokerage firms meets

Published September 12, 2003

ISLAMABAD, Sept 11: A meeting of the task force comprising officials of Securities and Exchange Commission of Pakistan and State Bank of Pakistan was held at the SECP headquarters here on Thursday to review the progress in tackling the illegal brokerage houses.

SECP chairman Dr Tariq Hassan presided over the meeting which was also attended by the lawyers engaged for pursuing the cases lodged in different high court benches in this connection.

The lawyers briefed the meeting on the proceedings held in the courts.

The meeting decided that all the cases would be pursued with full vigour and that there would be no let for those indulging in the illegal and unlawful business and fleecing the depositors.

The task force nominated the following contact persons in SECP and SBP whom the complainants and aggrieved depositors can contact at the addresses and telephone numbers mentioned below: SECP: Syed Fayyaz Mahmud, Director, Company Law Administration Division, NIC Building, Jinnah Avenue, Blue Area, Islamabad. His email address is: fayyaz.mahmud@secp.gov.pk; telephone no. 051-9207648 and fax no. 021-9218591.

SBP: Mr Amjad Iqbal, Assistant Director, Banking Policy Department, State Bank of Pakistan, I.I. Chundrigar Road, Karachi. His email address is: amjad.iqbal@sbp.org.pk and phone no. 021-24450-3550 and fax no. 021-9212506.