Awareness programme on preserving and growing savings held

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Lack of adequate financial literacy and capability coupled with inadequate level of understanding and due diligence makes investors vulnerable to fraudulent activities and unwise investment decisions as they ignore basic prudent measures before entering into a contractual agreement with a financial service provider. Comparative regional statistics reflect that Pakistan has the lowest indicators for saving and investment including insurance penetration and participation in pension and mutual funds. The country also has a low investor base in the capital markets which results in low volumes and lack of liquidity. On July 13 this year, the KSE, and SECP along with key non-banking financial market stakeholders, including the Lahore Stock Exchange, Islamabad Stock Exchange, Pakistan Mercantile Exchange, Central Depository Company, National Clearing Company, Mutual Funds Association of Pakistan and the Insurance Association of Pakistan, embarked upon a nationwide Investor Education and Awareness Programme targeting various segments of the society from university students to retired individuals and general public with an aim to create awareness of various financial products and nurture a savings culture in Pakistan. Since the inception of nationwide Investor Awareness Generation Program, KSE has organised four investor education programs for adult investors at its premises for new investors, retired individuals and aggrieved investors of 2008. With a view to create awareness about capital markets among the youth, an interactive learning programme “Preserving and Growing your Savings” was jointly launched by the KSE and ICM on October 16 and as such investment related basic education has been imparted to around 15 hundred students of premier educational institutions like FAST University, IOBM Institute of Business Management, College of Business Management, ISRA University (Hyderabad), Sindh University (Badin Campus), and Government Premier College, Karachi. The Young Investor Education Programme has been specifically tailored for school/college/university students and utilises advanced illustration techniques, open-ended quizzes, practical examples, case studies and role-playing teaching strategies. Javed Hasan, the CEO of ICM conducted the 7th Program for students of FAST University. The Program was moderated by Sani-e-Mehmood Khan of KSE and the Q&A session was jointly conducted by Muhammad Asif Paryani, Deputy Director (SCD) of Securities and Exchange Commission of Pakistan, Faisal Parekh of CDC, Nauman Majjeed Adam of Adam Securities after a short brief on the subject of Investment Basics, Investor Protection, and electronic custody of shares.