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Central Depository Company

From Wikipedia - Reading time: 4 min
This article is about the central securities depository company based in Pakistan. For the similarly named central securities depository company based in India, see Central Depository Services Limited.

Central Depository Company
Company typeUnlisted public company
IndustrySecurities
Founded1997; 27 years ago (1997)
Headquarters
Karachi
,
Pakistan
Area served
Pakistan
Key people
RevenueIncrease Rs. 2.473 billion (US$8.6 million) (2023)
Decrease Rs. 663.374 million (US$2.3 million) (2023)
Increase Rs. 849.400 million (US$2.9 million) (2023)
Total assetsIncrease Rs. 7.925 billion (US$27 million) (2023)
Total equityIncrease Rs. 6.591 billion (US$23 million) (2023)
OwnerPakistan Stock Exchange (39.81%)
MCB Bank Limited (15%)
Habib Bank Limited (11.35%)
LSE Ventures Limited (10%)
National Investment Trust (6.35%)
Industrial Development Bank of Pakistan (5%)
Pak China Investment Company Limited (5%)
ParentPakistan Stock Exchange
Websitecdcpakistan.com
Footnotes / references
Financials as of 30 June 2023 [1]

Central Depository Company of Pakistan (CDC) is a Pakistani central securities depository company which provides services for equity, debt and other financial instruments.[2] It is based in Karachi, Pakistan.[3]

CDC is regulated by the Securities and Exchange Commission of Pakistan.[4] The current CEO is Badiuddin Akber.[4]

History

[edit]

Central Depository Company was founded in 1997.[5]

In 1999, the CDC introduced Investor Account Services, allowing both retail and corporate investors to open and maintain custody accounts directly with the company.[6]

The CDC expanded its services in 2002 with the launch of Trustee and Custodial Services.[6] The service functions as a trustee to open-end and closed-end mutual funds and voluntary pension schemes.[6]

In 2008, the company established CDC Share Registrar Services Limited, a wholly-owned subsidiary.[6] It provides registrar and transfer agent services to share issuing companies, handling customer interactions on behalf of these companies.[6][7]

ITMinds Limited, another wholly-owned subsidiary of the CDC, was established in 2009.[6] The subsidiary provides business process outsourcing (BPO) services, focusing on back office accounting functions for the mutual fund industry.[6][8]

In 2014, the CDC launched the Centralized Information Sharing Solution for Insurance Industry (CISSII).[6] Managed by the CDC, CISSII is an online platform designed to facilitate information sharing within the insurance industry, covering aspects such as claims processing, risk management, agent activities, and group life claims experience.[6][9]

In 2017, the CDC introduced eServices, a web portal providing services such as the Centralized eIPO System, which allows for electronic applications for share subscriptions, and the eDividend Repository, which provides investors with consolidated information on cash benefits and dividend disbursements.[6][10]

Shareholding pattern

[edit]
Shareholders % of Shareholding
Pakistan Stock Exchange 39.81
MCB Bank Limited 15.00
Habib Bank Limited 11.35
LSE Ventures Limited 10.00
National Investment Trust Limited 6.35
Industrial Development Bank 5.00
Pak China Investment Company Limited 5.00
Last updated: December 2023[11]

References

[edit]
  1. ^ "CDC Annual Report 2023" (PDF). CDC Pakistan. Retrieved 27 July 2024.
  2. ^ Reporter, The Newspaper's Staff (31 May 2022). "Central Depository Company plans Centralised Gateway Portal". DAWN.COM.
  3. ^ "BankIslami Pakistan Limited & Central Depository Company sign Mou for EPM Services". The News International. 6 November 2019. Retrieved 30 July 2020.
  4. ^ a b "Securities and Exchange Commission of Pakistan appoints new CEO of Central Depository Company". The News International. 21 December 2018. Retrieved 30 July 2020.
  5. ^ Report, Recorder (31 May 2023). "CDC's silver jubilee: Pakistan Post unveils commemorative postage stamp". Brecorder.
  6. ^ a b c d e f g h i j "Overview – CDC".
  7. ^ https://docs.vis.com.pk/RatingReports/OP_01092801001_00010928.pdf
  8. ^ Report, Recorder (15 June 2023). "Arif Habib Dolmen outsources back office functions to ITMinds". Brecorder.
  9. ^ "SECP issues draft regulations for information sharing". The Nation. 4 August 2013.
  10. ^ Report, Staff (6 November 2017). "CDC awarded IPO Market Innovation Award 2016/2017". Profit by Pakistan Today.
  11. ^ "Shareholding pattern".
Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Central_Depository_Company
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