KARACHI: Pakistan Stock Exchange (PSX), under the aegis of World Federation of Exchanges (WFE), of which PSX is an Affiliate Exchange, in partnership with International Organisation of Securities Commission (IOSCO), marked World Investor Week (WIW) 2024 through a gong ceremony held at PSX Trading Hall.
The WIW with the theme of ‘Ring the Bell for Financial Literacy’ is being held from October 7 – 13, 2024.
This is the fourth consecutive year that PSX is holding and organising the World Investor Week.
The participants of the gong ceremony included representatives from the Securities and Exchange Commission of Pakistan (SECP), SROs, securities brokers, asset management companies, and Pakistan Stock Brokers Association (PSBA) among others.
The hosts included Dr Shamshad Akhtar, Chairperson PSX; Nadeem Naqvi, Acting CEO PSX; Board member(s) PSX and senior management of PSX. The week-long activities in World Investor Week will be focused on promoting financial literacy and to raise awareness about investor education and protection. This is an ongoing effort by the capital market to encourage financial inclusion and foster learning opportunities for investors.
The gong was struck by the Chief Guest, Akif Saeed, Chairman SECP, amidst the presence of the PSX Chairperson, Board member(s) and Acting CEO. Senior management of PSX, heads of leading brokerage houses and AMCs, were also present to officially mark the week-long World Investor Week and to open the trading day.
The Chief Guest, Akif Saeed, Chairman SECP, said that PSX’s unwavering commitment to improving outreach and enhancing financial literacy in the country is laudable. Promoting awareness about the financial landscape is a continuous journey, because just like the evolution of financial markets, ongoing efforts are needed to equip investors to make well-informed decisions, and navigate the complexities of today’s financial markets, he added.
He said Pakistan’s rapidly growing youth population, combined with significant advancements in digital infrastructure, present a remarkable opportunity for the capital market to attract a new generation of investors. “With nearly 67 percent of the population under the age of 30, we have a vast pool of potential investors who are eager to explore opportunities for wealth creation and financial security. As we embark on this week filled with learning, sharing, and collaboration, I urge each of you to seize this opportunity to disseminate knowledge and empower individuals within our communities. By working together, we can strengthen the foundation of our financial markets, instil confidence among investors, and pave the way for sustainable economic growth”, he added.
Nadeem Naqvi, Acting CEO PSX, in his welcome address, thanked the SECP Chairman for gracing the occasion with his presence. He gave an example of the ‘Sahulat Account’ facility and how easy it was now to open an investment trading account online in just a few minutes. After selecting a stockbroker and online transfer of funds, the prospective investor could start investing within a few hours. This highlighted the enormous technological progress made by Pakistan’s capital market institutions (PSX, CDC & NCCPL) in digitising end-to-end account opening, trading and settlement process.
While highlighting the ease and convenience of stock market investing now available, Nadeem Naqvi also highlighted the importance of risk assessment, individual investors’ personal financial circumstances and advised that only a small portion of an individual’s overall savings should be invested in the stock market and investors should gradually try to learn about companies they invest in and also the interesting journey of companies themselves as they grow and prosper.
Speaking at the occasion, Dr Shamshad Akhtar, Chairperson PSX, said Pakistan Stock Exchange marks the World Investor Week each year in recognition of the importance of financial literacy for the public in general and for investors and stakeholders of the capital market in particular. Pakistan Stock Exchange makes consistent efforts throughout the year to disseminate financial awareness on various platforms such as in-person sessions, workshops, courses and webinars, among others, to highlight the importance of saving and investing, and learning the ropes of investing on the stock market, for the benefit of investors, she said.
“In the last fiscal year, over 80 institutions across the country were imparted sessions on financial education and awareness”, she said. As many as 162 investor awareness sessions were held across the country. More than 15,000 members of the general public including students, corporate employees and others from a broad spectrum of society were educated on basics of financial literacy in the last fiscal year through in-person sessions and workshops, she said.
“In addition to our on-ground efforts, we also reach out through digital platforms whereby PSX regularly conducts webinars in collaboration with brokers, mutual fund companies and other key institutions to generate awareness about savings and investment. The objective is to raise the country’s savings rate and deploy those savings into productive sectors”.
Copyright Business Recorder, 2024
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