The Pakistan Stock Exchange (PSX) held a gong ceremony to welcome The Bank of Punjab (BOP) onboard as a market maker for debt securities on the exchange.
To mark the occasion, an agreement was signed between PSX and BOP at PSX trading hall on Friday. Following the accord, BOP became the first bank to be recognized as market maker for both conventional and Shariah-compliant debt instruments on PSX. The agreement was signed by PSX MD & CEO Farrukh H Khan and BOP President & CEO Zafar Masud.
Speaking on the occasion, Farrukh Khan said, “I am very happy to welcome Mr Zafar Masud and BOP to PSX. It is indicative of their commitment to the development of Pakistan’s capital markets that BOP is one of the first banks to become a market maker on PSX. We welcome this development as this will lead to increased growth and dynamism in the debt market, which is crucial for the economic progress of Pakistan.”
Meanwhile, in his address, Zafar Masud stated, “Today marks an important day for us. The Bank of Punjab will be the first bank in Pakistan market making for both conventional and Shariah Compliant securities as well as corporate debt instruments at the PSX portal. This makes us the first public sector bank offering a bouquet of services in collaboration with PSX.”
