Central Depository Company
IndustrySecurities
Founded1997 (1997)
Headquarters
Karachi
,
Pakistan
Key people
    • Badiuddin Akber, CEO
    • Moin M. Fudda, Chairman
Websitecdcpakistan.com

Central Depository Company of Pakistan (CDC) is a Pakistani central securities depository company which provides services for equity, debt and other financial instruments.[1] It is based in Karachi, Pakistan.[2]

CDC is regulated by the Securities and Exchange Commission of Pakistan.[3] The current CEO is Badiuddin Akber.[3]

History

Central Depository Company was founded in 1997.[4]

In 1999, the CDC introduced Investor Account Services, allowing both retail and corporate investors to open and maintain custody accounts directly with the company.[5]

The CDC expanded its services in 2002 with the launch of Trustee and Custodial Services.[5] The service functions as a trustee to open-end and closed-end mutual funds and voluntary pension schemes.[5]

In 2008, the company established CDC Share Registrar Services Limited, a wholly-owned subsidiary.[5] It provides registrar and transfer agent services to share issuing companies, handling customer interactions on behalf of these companies.[5][6]

ITMinds Limited, another wholly-owned subsidiary of the CDC, was established in 2009.[5] The subsidiary provides business process outsourcing (BPO) services, focusing on back office accounting functions for the mutual fund industry.[5][7]

In 2014, the CDC launched the Centralized Information Sharing Solution for Insurance Industry (CISSII).[5] 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.[5][8]

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.[5][9]

References

  1. ↑ Reporter, The Newspaper's Staff (31 May 2022). "Central Depository Company plans Centralised Gateway Portal". DAWN.COM.
  2. ↑ "BankIslami Pakistan Limited & Central Depository Company sign Mou for EPM Services". The News International. 6 November 2019. Retrieved 30 July 2020.
  3. 1 2 "Securities and Exchange Commission of Pakistan appoints new CEO of Central Depository Company". The News International. 21 December 2018. Retrieved 30 July 2020.
  4. ↑ Report, Recorder (31 May 2023). "CDC's silver jubilee: Pakistan Post unveils commemorative postage stamp". Brecorder.
  5. 1 2 3 4 5 6 7 8 9 10 "Overview – CDC".
  6. ↑ https://docs.vis.com.pk/RatingReports/OP_01092801001_00010928.pdf
  7. ↑ Report, Recorder (15 June 2023). "Arif Habib Dolmen outsources back office functions to ITMinds". Brecorder.
  8. ↑ "SECP issues draft regulations for information sharing". The Nation. 4 August 2013.
  9. ↑ Report, Staff (6 November 2017). "CDC awarded IPO Market Innovation Award 2016/2017". Profit by Pakistan Today.
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