Pakistan banking supervision move

The government of Pakistan is planning to take banking supervision away from the central bank and bring banks under the regulatory control of the Securities and Exchange Commission of Pakistan (SECP) through new legislation, the 'Financial Market Services Act 2007', according to local news reports.

The draft of the Act is to be placed before the policy board of SECP on 5 September. The draft proposes to regulate banks, insurance companies, capital markets and pension systems.

Banks, at presen

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