The Securities Exchange Commission of Pakistan (SECP) on Thursday signed a memorandum of understanding (MoU) with Government College University (GCU) Lahore for enhancing financial literacy and awareness about capital investment in the society especially among students.
GCU Vice Chancellor Professor Dr Hassan Amir Shah and SECP Commissioner (IED&IRD) Shauzab Ali signed the 26-point accord at a graceful ceremony organized by the GCU Directorate of Academic Planning and External Links (AP&EL) at the University's Syndicate Committee Room. SECP Executive Director Khalida Habib, GCU Director Research Professor Dr Ikram-ul-Haq and Registrar Saboor Khan were also present.
Speaking on the occasion, Shauzab Ali said that the future of the financial industry in Pakistan belonged to capital markets, so therefore, collective efforts of regulators, industrialists and academics were required to realize the potential of capital markets.
SECP Additional Director IEIRD Usman Khalid lack of financial literacy and awareness in the society gave opportunity to unregistered/ illegal brokers to loot the investors' savings. He added that students had access to the latest technology through smart phones but their financial planning concepts and knowledge about investments were very weak.
As per the MoU, the SECP would also hold training workshops and seminars at GCU besides impart capacity building training the university's faculty members.
Vice Chancellor Professor Hassan Shah expressed gratitude to SECP, saying that this collaboration would be highly beneficial for the university's students.
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