Competition Commission of Pakistan guides microfinance
banks on competition laws
The Competition Commission of Pakistan (CCP) recently
organized a one-day workshop focused on Competition Law tailored specifically
for microfinance banks affiliated with cellular companies operating in
Pakistan.
Representatives from Mobilink Microfinance Bank Limited, U
Microfinance Bank Limited, and Telenor Microfinance Bank Limited participated
in the event, as per a press release issued on Tuesday.
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The workshop delved into pertinent sections of Competition
Law concerning mergers & acquisitions, prohibited agreements, abuse of
dominance, and deceptive marketing practices. Dr. Kabir Ahmed Sidhu, Chairman
of CCP, and Mr. Salman Amin, a CCP Member, were present at the opening session.
CCP has consistently engaged with diverse stakeholders
including corporations, chambers of commerce & industry, academia, and
business associations to raise awareness about competition law and encourage
self-compliance. Recognizing the significant role microfinance banks play in
Pakistan's economy, especially with their expanding portfolios and introduction
of new products, CCP organized this specialized workshop.
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Participants at the workshop included professionals
responsible for marketing, legal affairs, compliance, risk management,
investigation, branding, and financial matters.
The workshop provided participants with an in-depth
understanding of Competition Law and practical insights into its provisions.
Discussions covered microfinance banks' digital platform offerings and
emphasized the importance of transparent marketing practices and clearly
articulating terms and conditions to customers.
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In the closing session, representatives from U Microfinance
Bank, Telenor Microfinance Bank, and Mobilink Microfinance Bank expressed
gratitude to CCP for the informative session and highlighted key takeaways. Mr.
Salman Amin, in his closing remarks, reiterated CCP's commitment to ensuring
fair competition in all commercial and economic spheres. He emphasized the
significance of a country's competition index for investors and reaffirmed
CCP's dedication to promoting self-compliance and creating an enabling
environment with minimal regulatory interventions.
Source: APP