The Pakistan Credit Rating Agency Limited
25-Aug-23
Analyst
Hassaan Ahmad
Hassaan.Ahmad@pacra.com
+92-42-35869504
www.pacra.com
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Related Research
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PACRA Withdraws Broker Management Rating of Ismail Iqbal Securities (Pvt.) Limited
| Rating Type | Broker Management | |
|
Current (25-Aug-23 ) |
Previous (26-Aug-22 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BMR3 |
| Short Term | - | - |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the Broker Management Rating, PACRA withdraws the Broker Management Rating of Ismail Iqbal Securities (Pvt.) Limited.
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About
the Entity
Ismail Iqbal Securities (Pvt.) Limited was established in August 06, 2004. The Company operates through two branches, both in Karachi. The Company is owned by three individuals, wherein the majority shareholding (65%) lies with the CEO - Mr. Ahfaz Mustafa. The Company’s board of directors comprises two experienced individuals including the CEO - Mr. Ahfaz Mustafa. The other director, Mr. Muhammad Taufique is a non-executive director and provides governance oversight. The Company has appointed M/s Baker Tilly Mehmood Idrees Qamar – Chartered Accountants as the external auditors.