Increased Investor Convenience: CDC signs a Depository Participant agreement with UBL

The main function of CDC is to operate and maintain the Central Depository System (CDS)

Increased Investor Convenience: CDC signs a Depository Participant agreement with UBL

CDC recently signed a Depository Participant agreement with United Bank Limited (UBL). Through this collaboration, CDC seeks to provide UBL customers the convenience to open account with CDC and conduct transactions through UBL branches in Karachi, Lahore and Islamabad. Moreover, this service will allow UBL branches to provide custodial services to customers, fulfilling their needs regarding safe custody of securities.

The signing ceremony was attended by Mr. Aftab Diwan, CEO-CDC and senior management of the company. Mr. Zia Ijaz, Group Executive-Retail Bank, UBL and Mr. Sharjeel Shahid, Group Head Banking Products & Corporate Services, along with senior executives from UBL were also present at the event.

On the occasion Mr. Aftab Diwan, CEO-CDC said, “The service will provide CDC an opportunity to expand its outreach in the country through the additional customer touchpoints and leverage the UBL Branch Network to increase financial inclusion in the country.”

Mr. Zia Ijaz, Group Executive- Retail Bank, UBL said “This initiative will add a new dimension to our offering for our valued customers. This service will provide ease and convenience to the customers of having all their custodial needs handled at their nearest UBL Branch”.