CDC launches Pakistan’s first fintech platform
Objective is to raise share of mutual fund asset class from 1.6% to 5% of GDP
A Reuters file image
KARACHI:
The Central Depository Company (CDC) has launched Pakistan’s first fintech platform allowing masses to compare and invest in various mutual funds with the aim of enhancing the share of mutual fund asset class from a meagre 1.6% of gross domestic product (GDP) to 5% over the next two to three years.
The company, through its subsidiary ITMinds, has launched pilot version of a digital platform to support the mutual fund industry.
This platform, named Emlaak Financials, will function as a digital distribution channel initially for mutual funds and later for other asset classes as well.