The Pakistan Credit Rating Agency Limited
12-Mar-24
Analyst
Hassaan Ahmad
Hassaan.Ahmad@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA
PACRA Withdraw Broker Management Rating of Aba Ali Habib Securities (Pvt.) Limited
| Rating Type | Broker Management | |
|
Current (12-Mar-24 ) |
Previous (15-Mar-23 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BMR2 |
| Short Term | - | - |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the Broker Management Rating of Aba Ali Habib Securities (Pvt.) Limited, PACRA has withdrawn the Broker Management Rating of Aba Ali Habib Securities (Pvt.) Limited with immediate effect.
.
About
the Entity
Aba Ali Habib Securities (Pvt.) Limited is a TREC holder of Pakistan Stock Exchange and a Member of Pakistan Mercantile Exchange Limited. While AAH has been operating since 1970, it was incorporated in 1996 as a Private Limited Company. AAH is registered with the SECP under Securities Brokers Regulations 2016. AAH is primarily owned by Mr. Aba Ali Habib who has been associated with the Capital Markets for over forty years, and has diversified experience in the field of Equity Brokerage. AAH’s Board comprises of six members including the CEO whereas four non-executive directors are also present. The CEO, Mr. Zahid Ali Habib possesses a diversified
experience in capital markets. He holds a Master’s Degree in Finance from IBA. He has played a key role in developing risk management system at PSX and has served on various PSX committees.