SBP Updates Governance Rules to Allow Bank Leadership on Boards of Wholly-Owned Exchange Companies
The State Bank of Pakistan has revised its Corporate Governance Regulatory Framework, permitting bank presidents, CEOs, and directors to serve on the boards of exchange companies wholly owned by their respective banks, while maintaining existing restrictions for other financial entities.
Saleem Zia Assumes Role as Chairman of State Life Insurance Board to Strengthen Governance and Institutional Oversight
Former Senator Saleem Zia has been appointed Chairman of the State Life Insurance Corporation Board by the Federal Government, signaling a renewed focus on governance and strategic oversight within Pakistan’s largest state-owned insurance entity.
Senate Moves to Curtail Salary-Setting Powers of SECP and SBP Boards Amid Pay Hike Controversy
A Senate panel has decided to withdraw the powers of SECP and SBP boards to independently set executive salaries, following revelations of hefty pay hikes at the SECP that raised concerns over governance, transparency, and misuse of authority.
SECP Recovers Rs26 Million in Penalties, Intensifies Crackdown on Corporate Non-Compliance
The Securities and Exchange Commission of Pakistan (SECP) has recovered Rs26 million in penalties during FY 2024–25 and launched aggressive enforcement actions against illegal financial activities and corporate non-compliance.