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Investor Account Services
Central Depository System
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What is Investor Account Services (IAS)?
Investor Account Services allows retail investors to directly open and maintain accounts in Central Depository System (CDS) for safe custody and electronic settlement of securities. Earlier, to settle the securities through CDS, investors had to open client accounts (sub accounts) with the CDS Participants (brokers & financial institutions). With Investor Account Services, investors can now have direct access to their account.
What are the benefits of IAS?
Investor accounts are safe and secure as they are directly maintained by CDC • Investor Accounts are operated directly and only on written instructions of investor(s). Therefore, investors have direct and complete control over their book-entry securities • Account balance and other information is available through CDC access Interactive Voice Response (IVR), Web service and SMS alerts.
Who can open an Investor Account?
The following are eligible to open Investor Account with CDC: 1. Individuals (Pakistani nationals as well as foreigners) who; • are not minor • are of sound mind • have not applied to be adjudicated as an insolvent, have not suspended payments and have not compounded with their creditors • are not undischarged insolvent. 2. Other than Individuals such as corporate entities, societies etc.
How can I open an Investor Account?
To open an Investor account, you need to fill out the Investor Account Opening Form, which can be obtained from the CDC Investor Account Services department located in Karachi, Hyderabad, Lahore, Faisalabad and Islamabad. The form can also be downloaded from the CDC Website (www.cdcpakistan.com) or through written request or by calling CDC Customer Support Services at 0800 – CDCPL (23275).* You are required to submit the application form along with the other required documents. Once your account has been opened you will be provided with an Account Opening Package. Physical presence of the Account Holder and Joint Account Holders, if any, is necessary at the time of account opening for residents of the cities where CDC offices are present. In other cases, the copy (ies) of CNIC (s) being submitted must be signed by the manager of any Commercial Bank or by the nearest embassy in case of Non-Resident Pakistanis and Foreigners. * For overseas callers: +9221-4326038
What are the contents of Account Opening Package?
Account Opening Package provided on opening an Investor Account includes the following items: • Transaction Order (T.O.) Book • Account Setup Detail (registration details) • CDC access – IVR and Web User Guides / Flyers and SMS • CDC access Registration Form.
How long does it take to open an Investor Account?
Individual accounts are opened within 24 hours whereas corporate accounts are opened within 48 hours (Incase of cheque, the account will be opened after its clearance) after which you can start using the services of IAS.
How many persons can jointly open an Investor Account?
As many as four persons can jointly open an account. Once the account is opened, the joint account holders can neither be added nor removed.