SECP prohibits companies from donating cash to banned outfits

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SECP prohibits companies from donating cash to banned outfits

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has prohibited all the companies from giving donations to all banned outfits listed in the list of United Nations.

The SECP hereby prohibits all companies from donating cash to the entities and individuals listed under the United Nation Security Council (UNSC) sanctions committee's list," said a notification issued by the SECP on Monday.

Lashkar-eTayeba, Jamat-ul-Dawa, Tehrik Taliban Pakistan, Rabita Trust, and Maulana Fazlullah among others were also included in the banned list.

The SECP has also warned that the Government of Pakistan has already prescribed penalty of up to Rs 10 million for non-compliance of sanctions regime being implemented through SROs under the UNSC Act, 1948.