Karachi: The following decisions were taken by the Board of Directors of Karachi Stock Exchange, in its adjourned meeting held on July 29, 2011:
1. In order to ensure investors’ confidence and to provide greater degree of comfort to them, the Board of Directors decided to enhance present limit of Rs. 25 million to Rs. 75 million in case of default by a members and/or expulsion of a member from the membership of KSE, to be contributed from Investors’ Protection Fund, subject to approval of the SECP. This will require utilization of approximate sum of Rs. 550 million to settle the investors’ claims as per the Regulations.
2. It was also decided to constitute a Committee out of the members of the Board to look into the possibility of providing assistance to existing members of the Exchange.
For more information, Contact:
Karachi Stock Exchange
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136