Staff Report
ISLAMABAD: Pakistan Stock Exchange (PSX) and Habib Bank Limited (HBL) has signed the agreement on Sunday at the PSX trading hall where by HBL becomes ‘Market Maker’ for debt instruments listed on PSX. A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to welcome HBL on-board as a Market Maker for debt securities on PSX, said a press release issued by PSX here.
The agreement was signed between Managing Director (MD) and Chief Executive Officer (CEO) Pakistan Stock Exchange, Farrukh H. Khan and President and CEO – HBL, Muhammad Aurangzeb. Also present at the ceremony were the Board of Directors of PSX and senior management of both the organizations.
On this occasion, MD and CEO of PSX Farrukh Khan said, “This is a very important step in developing collaboration between the banking sector and capital markets. He said that development of debt markets is an important strategic objective of PSX and critical for the economic growth of Pakistan. Hence, it is a very positive development that the largest bank of Pakistan is coming onboard as designated Market Maker for debt securities listed on PSX, he said.
Managing Director (MD) PSX said that PBL, which was also the first company to be listed on the Stock Exchange, is now going to act as market maker for corporate and government debt securities listed on PSX”. He further stated, “We are confident that HBL as market maker will add to the depth and development of the debt capital market of Pakistan. “I congratulate and welcome HBL in their new role as Market Maker”.
