Bank Alfalah Becomes the First Bank in Pakistan to be recognized as a Market Maker by PSX - Press Release issued by Bank Alfalah Limited.

Karachi -- November 17, 2020 (PPI-OT)

Following is the text of press release issued by Bank Alfalah Limited

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Pakistan Stock Exchange (PSX) and Bank Alfalah signed an agreement today at a ceremony held at PSX Trading Hall. Under this agreement, Bank Alfalah has now become the country's first commercial bank designated as a Market Maker for Debt Securities at the Pakistan Stock Exchange. Mr. Farrukh H. Khan, CEO, Pakistan Stock Exchange, and Mr. Atif Bajwa, President and CEO, Bank Alfalah, signed the agreement. Present at the ceremony were Mr. Sulaiman S. Mehdi, Chairman PSX; Mr Ali Sultan, Group Head of Treasury and Capital Markets, Bank Alfalah, Board members of PSX and senior management of both the organizations.

On this occasion, Mr. Farrukh Khan, the CEO of PSX, said, "Growth of the debt markets is an important strategic objective of PSX and critical for the economic growth of Pakistan. In line with the recent regulatory changes introduced by SECP and PSX, I am very happy that Bank Alfalah has been approved as the first market maker of debt securities at the Exchange. This will usher in a new chapter in the growth of debt markets, thereby ensuring a deep, liquid and transparent secondary debt market in Pakistan. This will benefit both issuers and investors".

He further stated, "Bank Alfalah has a long standing commitment to the capital markets and is one of the few banks with a presence in both the brokerage and asset management industries. Hence, I am particularly happy that they have also taken this step to become the first bank to become a market maker on PSX. This will help to further develop Pakistan's debt market to regional and international levels. This requires all stakeholders in the financial system to play an active role and we believe that this is a significant milestone in the development of the debt markets in Pakistan."

On this occasion, CEO of Bank Alfalah said, "Bank Alfalah would like to thank SECP and PSX for their continued efforts in developing and promoting the capital markets of Pakistan. Sharing the same...