Our Story

Our Story

With an ever increasing exponential growth in the Pakistan Capital Market during the early 1990s causing a huge increase in trading volumes, the physical handling of paper-based shares / certificates not only became laborious but also time consuming. It was in this perspective that CDC was incorporated to implement and operate a depository system and eliminate the tedious process of physical shares handling and transfer.

Experts from PriceWaterhouseCoopers conducted a study in 1993 to develop a conceptual framework for the depository. The study was sponsored by the United States Agency for International Development (USAID) and its report laid the foundation for depository design.

In November 1994, the Board of Directors at CDC awarded a turnkey contract to the IBM consortium for the implementation of this system in Pakistan. The IBM consortium proposed a comprehensive Master Implementation Plan (MIP) to the CDC Board after a detailed analysis of the following:

• National requirements

• Company and Banking laws

• Regulations & Procedures

• Financial and organizational aspects of the project

In April 1995, this MIP was approved by the CDC board. The infrastructural development included development and testing of software, hiring and training of personnel and establishment of CDC offices. The CDC offices at Lahore and Islamabad were connected to the head office through VSAT link leading to the development of a geographically neutral depository.

These long term and broad-spectrum efforts finally resulted in the launch of the Central Depository System on September 3, 1997.



Experts from PriceWaterhouseCoopers conduct a study to develop a conceptual framework for the depository. The United States Agency for International Development (USAID) sponsors the study and the report lays the foundation for depository design.


The Board of Directors at CDC award a turnkey contract to an IBM consortium for the implementation of the depository system in Pakistan. The IBM consortium proposes a comprehensive Master Implementation Plan to the CDC Board after a detailed analysis of National requirements, Company & Banking laws, Regulations & Procedures and Financial Organizational aspects of the project.


CDC board approves Master Implementation Plan.


  • Promulgation of Central Depositories Ordinance & Central Depositories Act.
  • Central Depository Company of Pakistan Limited Regulations developed and approved by the Securities and Exchange Commission of Pakistan.
  • September 3 – CDC starts operations. Central Depository System Launched.


  • Launch of Investor Account Services for individual and corporate investors enabling them to directly open and maintain accounts with CDC in Central Depository System for electronic settlement of securities.
  • Induction of Term Finance Certificates (TFCs) into CDS.


  • Development of CDC Contingency Site.
  • Introduction of Electronic Merger of Securities Facility in CDS.


  • Launch of Trustee & Custodial Services for Mutual Funds, initially with two open-ended mutual funds with net assets value of Rs. 500 million.
  • Introduction of Consolidation / Sub-division of Securities.


  • Introduction of Element Training Program for CDS users.
  • Induction of WAPDA bonds into CDS.


  • Complete implementation of National Clearing & Settlement System (NCSS).


  • Series of Investment Road Shows in major cities of Pakistan.
  • Deployment of Re-engineered Central Depository System.
  • Induction of Open-end Mutual Funds in CDS.


  • Inauguration of CDC House.
  • Hosts 10th Annual General Meeting of Asia-Pacific Central Securities. Depositories Group (ACG) in Karachi.
  • Holds ‘Investment Road Shows’ in Dubai and Abu Dhabi.
  • An independent brand-recall survey published in ‘Money’ magazine rates CDC as one of the top four brands in the country’s Investment Sector.
  • Launch of CDC access IVR and Web.
  • Inauguration of Lahore Office.


  • Completes a decade of CDS operations.
  • Holds ‘Capital Market Days’ in London and New York.
  • Introduces Secure ID Token for further security of CDS Terminals.
  • Development of UIN (Universal Identification Number) for Corporate.


  • Launch of Share Registrar Services for Issuers and their shareholders.
  • Introduces Fund Management System.
  • CDC conducts Customer Satisfaction & Brand Awareness Survey through Gallop. According to survey results, CDC is rated Pakistan’s most recognized and prominent financial brand.


  • Becomes ISO/IEC 27001:2005 certified for overall depository operations including functional, technical and legal aspects.
  • Implements Induction of Unpaid Rights in Central Depository System.
  • CDC’s Trustee & Custodial Services (T&C) acquires 100 funds.


  • Exponentially reduces Services Tariff.
  • Inducts National Savings Bonds in CDS.
  • Holds 3rd Pakistan Day Conference in New York.
  • Becomes ACCA Approved Employer.
  • ITMinds Limited becomes Microsoft Gold Certified Partner and IBM Premier Business Partner.
  • Elected as Executive Committee Member of Asia Pacific Depositories Group.
  • Introduces new Automated Mechanism of Securities Transfer in CDS.


  • Integration of Standard Chartered (Pakistan) Bank’s Straight 2 Bank with CDC’s Fund Management System.
  • Government of the Punjab appoints CDC as trustee for Punjab Pension Fund.
  • Co-hosts First Pakistan IPO Summit with LSE.
  • ITMinds becomes a subsidiary of CDC [IT Consultancy & Implementation Services].
  • Introduces Free of Cost eStatement and eAlert facilities for CDS Account Holders.
  • Receives CPD Approved Employer status from ACCA Pakistan.
  • CDC Employees conduct Flood Relief activities in interior Sindh


  • Becomes Custodian of over One Hundred Billion Securities worth over 21 billion dollars.
  • Conducts series of Free-of-Cost Investor Awareness Sessions in Karachi, Lahore and Islamabad.
  • Becomes First Company in Pakistan to get BS 25999 certification – the British Standard for Business Continuity Management.
  • Completes 15 years of successful operations.
  • CDC Employees conduct Flood Relief activities in far flung areas of Sindh.


  • Celebrates 15 years of successful operations through a series of events.
  • Teams up with CFA Institute for Employee Development.
  • Extends scope of ISO 27001 Certification.
  • Signs MoU with Life Insurance companies for Centralized Information Sharing Solution.
  • CDC becomes Secretariat of Asia-Pacific Central Securities Depositories Group (ACG) for 2014-16.
  • Mr. Muhammad Hanif Jakhura, CEO-CDC elected as the Executive Committee Chairman of ACG.


  • Initiates settlement services for Government Securities traded on PSX.
  • Conducts Investor Road Shows in 6 major cities of Punjab.
  • CDC Employees conduct Disaster Relief activities for Thar Drought affectees.


  • Launches Online Transactions service through Web.
  • CDC becomes Trustee of Dolmen City REIT.
  • CDC Trusteeship exceeds Rs. 500 Billion.