ICM Shareholders

ICM has been established as a discrete legal entity, and is operating as an association not for profit registered under Section 42 of Companies Ordinance, 1984. The shareholders of the Institute include:

  1. Securities & Exchange Commission of Pakistan (SECP)
  2. Karachi Stock Exchange (Guarantee) Limited (KSE)
  3. Lahore Stock Exchange (Guarantee) Limited (LSE)
  4. Islamabad Stock Exchange (Guarantee) Limited (ISE)
  5. Pakistan Mercantile Exchange (PMEX)
  6. Central Depository Company of Pakistan Limited (CDC)
  7. National Clearing Company of Pakistan Limited (NCCPL)
  8. Mutual Funds Association of Pakistan (MUFAP)
  9. CFA Association of Pakistan (CFAAP)
  10. Institute of Cost & Management Accountants of Pakistan (ICMAP)
Support from International Donor Agencies
Asian Development Bank (ADB)
The Asian Development Bank (ADB) provided support to SECP under its second generation capital markets reform program; covering strengthening governance of securities markets, market professionals, and building the capacity of Institute for Capital Markets. Objective being, helping to reduce violation of laws and regulations through certification of professionals, training, and other measures.

World Bank (WB)
World Bank had helped Institute of Capital Markets (ICM) though Capacity building Grant. The World Bank had provided a grant which aims to build the capacity of ICM to help it sustain the ongoing activities and introduce additional safeguards in the capital markets by accrediting the professionals and gradually adding certain offerings (certifications and licenses), without which the professionals will not be able to operate especially in the stock markets.

*It is important to mention that the above mentioned organizations do not have any control over the institute’s functions or policy, hence have no liability thereof.