December 8, 2023
Notice for Allowing Shariah Compliant Money Market Scheme to Invest in Government
Debt Securities
SECP vide its directive no 17 of 2023 dated December 06, 2023 (“Directive”) has allowed the Money Market Funds to invest in Government Debt Securities (Sukuks/ Government Securities) to be raised and traded through Pakistan Stock Exchange with a maturity exceeding six months and up to one year for a period of twelve months from the date of the said Directive. Furthermore, SECP has also granted one- time extension to Asset Management Companies (“AMCs”) in terms of Regulation 44(6) of the Non- Banking Finance Companies Notified Entities Regulations, 2008, requiring AMCs to notify any such modification/alteration/addition in the Offering Document to the unitholders. In this regard, it is to be informed that Offering Documents of the money market funds of ABL Asset Management Limited i.e. ABL Cash Fund, ABL Islamic Cash Fund, ABL Money Market Fund and ABL Islamic Money Market Fund will be amended in due course.
