Karachi Stock Exchange (KSE) clearing house has not paid to KASB for the last two clearing payments. KASB+IBk-s settlement on Wednesday with the Karachi Stock Exchange proceeded smoothly. Now its business within the system is nil (as KASB stopped on Monday night, no further transactions took place, hence no settlement), till such time its trading ability is restored.
+IBw-The next issue which we are working to conclude is the release of cash/near cash held with entities (KSE, the National Clearing Company, various cash mutual funds etc) other than KASB Bank. This will provide a further cash towards making payments to clients, who have requested the release of their funds with us. We have honoured all client requests for payment till date,+IB0- a KASB press release said. The SECP and the KSE are working as well, making various data requests from KASB which it is providing. There will be a meeting between the Securities and Exchange Commission of Pakistan (SECP) and the State Bank of Pakistan (SBP).
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