The Karachi Stock Exchange (KSE) has announced that maximum CFS premium rate will be allowed up to 23.63 percent for the month of July 2008. In a notice issued here on Monday, the KSE said that as per clause 3(9) of Continuous Funding System Regulations, 2006 of the KSE, CFS premium rates are subject to a maximum of 10 percent plus one-month Kibor.
As per regulations, these rates are required to be determined on last Friday of each month. As the Kibor offer rate announced on last Friday of the month ie on June 27, 2008, was 13.63 percent, the maximum CFS premium rate will be allowed up to 23.63 percent for the month of July 2008.
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