Press Release

JCR-VIS Assigns Broker Management Rating to Adam Securities Limited

Karachi, November 21, 2017: JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned initial Broker Management Rating of ‘BMR3++’ to Adam Securities Limited (ASL). Outlook on the assigned rating is ‘Stable’.

The rating signifies sound external control framework and risk management along with adequate regulatory compliance levels, internal controls, client relationship, HR & IT services and financial management.

Assigned rating reflects ASL’s adequate capitalization levels which comply with regulatory levels. Increase in the size of BoD would enhance the board level governance whereas policy framework can be further strengthened through broadening the scope of areas covered. Furthermore, autonomous existence of compliance and internal audit departments would improve the internal control framework and regulatory compliance. Financial performance of ASL has witnessed improvement on account of increase in commission rates charged to clients. The same has resulted in improvement of efficiency of the company.

For further information on this rating announcement, please contact the undersigned (Ext: 207) at (021)35311861-71 or fax to (021)35311872-3.



Jamal Abbas Zaidi
Advisor

Applicable Rating Criteria: Broker Management Ratings 2017
http://jcrvis.com.pk/docs/BMR201701.pdf

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