Criteria for Membership Rights of Islamabad Stock Exchange

Offers for the membership rights, are invited from the individuals and eligible, corporate bodies, financial institutions/banks subject to the terms and conditions and the membership criteria laid down for the purpose. Some significant features of the criteria are given below:-
 

For Corporate Bodies
 

a. Be a company or statutory corporation or a body corporate registered under Companies Ordinance, 1984 with a minimum issued and paid up capital of Rs.5.0 million. The object clause of the corporate body should necessarily include the brokerage business mandate.
 

b. The CEO/nominee director representing the corporate entity must be a citizen of Pakistan.
 

c. At least two directors, including the chief executive officer and nominee director, must possess minimum qualification of graduation.
 

d. At-least two directors of the company should have minimum assessed income of Rs.100,000/- each for the last three consecutive years.
 

e. The sponsors/directors of such body corporate should have never been convicted of an offence involving fraud or breach of trust.
 

f. The company should have never been expelled by this or any other stock exchange or financial institution or trade body on moral, financial indiscipline or any other ground.
 

g. The company should have not been previously refused for admission unless a period of one year has elapsed since the date of such rejection.
 

h. The company should have never been adjudicated as an insolvent or it should have never suspended payments or compounded with creditors.
 

For Individuals:
 

a) Should be not less than 21 years of age on the date of application.
 

b) Must be a citizen of Pakistan.
 

c) Should be financially sound and should have minimum assessed income of Rs.100,000/- for each of the last three consecutive years.


d) Should be a graduate and have two years experience of capital market business.
 

e) Should have never been convicted of an offence involving fraud or breach of trust.
 

f) Should have never been expelled by this or any other stock exchange or financial institution or trade body on moral, financial indiscipline or any other ground.
 

g) Should have not been previously refused for admission unless a period of one year has elapsed since the date of such rejection.
 

h) Should have never been adjudicated as an insolvent or has suspended payments or compounded with creditors.