Analyst
Hassaan Ahmad
Hassaan.Ahmad@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Withdraws Entity Ratings of Ismail Iqbal Securities (Pvt.) Limited
Rating Type | Entity | |
Current (25-Aug-23 ) |
Previous (26-Aug-22 ) |
|
Action | Withdraw | Maintain |
Long Term | - | A- |
Short Term | - | A2 |
Outlook | Stable | |
Rating Watch | - | - |
Subsequent to the management's decision to discontinue the Entity Ratings, PACRA withdraws the Entity Ratings of Ismail Iqbal Securities (Pvt.) Limited.
.
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.