PAKISTAN: The Securities and Exchange Commission of Pakistan (SECP) has released a guide to facilitate Modaraba companies and Modaraba agreements in complying with the requirements of the Modaraba Ordinance 1980, Modaraba Rules 1981, Modaraba Regulations 2021 and related directions and circulars. The guide consolidates all reporting obligations and summarizes required approvals under the Modaraba Law in order to assist the industry in achieving effective compliance. Furthermore, it emphasizes critical provisions of the Modaraba Law and refers to common violations.
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