HBL becomes first bank to partner with NCCPL to enhance capital markets
HBL has become the first bank to partner
with the National Clearing Company of Pakistan Limited (NCCPL) in a landmark
agreement aimed at enhancing the role of commercial banks in Pakistan’s capital
markets. The two institutions signed a Memorandum of Understanding (MoU) to
foster collaboration and market development.
Under the MoU, HBL will explore
opportunities in capital markets, including Margin Trading, the role of
custodian clearing members, and leveraging NCCPL’s Capital Gains Tax (CGT)
services to provide improved investor solutions.
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Speaking at the signing ceremony, Muhammad
Nassir Salim, President & CEO of HBL, said, “This partnership will allow us
to deliver enhanced services to our clients. In a rapidly digitizing world,
this collaboration is a key step toward accelerating topline growth while
elevating our product and service offerings.”
Naveed Qazi, CEO of NCCPL, added, “This MoU
underscores our commitment to integrating financial institutions with the
capital market ecosystem. We believe this partnership will encourage greater market
participation and provide enhanced facilitation for investors.”
Source: Profit Pakistan