Pakistan central bank governor announces new plan

PAKISTAN - As of 1 July, 2002, all non-banking financial services in Pakistan, such as investment and corporate advisory service; leasing, housing finance and venture capital companies and discount houses, will be regulated by the Securities and Exchange Commission of Pakistan (SECP) and, as a consequence, investment banks and development finance institutions (DFIs) will no longer be regulated by the State Bank of Pakistan.

An announcement to this effect was made in a rare joint appearance bef