FINANCIAL SERVICES

MCBFSL/COM/029/19

March 26, 2019

Mr. Imran Inayat Butt

Executive Director
Securities Exchange & Commission of Pakistan
NIC building Jinnah Avenue, Blue Area
Islamabad.

Dear Sir,

SYSTEM AUDIT REPORT OF MCB FINANCIAL SERVICES LIMITED

As required by clause 41(O) of NBFC Regulations 2008, please find herewith the system
audit report of MCB Financial Services Limited for the year ended 31st December 2018.

Regards,

______________________
Khawaja Anwar Hussain
Chief Executive Officer

4th Floor, Perdesi House, 2/1, R-Y-16, Old Queens Road, Karachi – 74200
Direct Nos. 021-32430485, 32415454, 32415204, 32428731 PABX No. 021-32419770, Fax No. 021-32416371
Website: http://www.mcbfsl.com.pk,
,
FINANCIAL SERVICES

MCBFSL/COM/031/19

April 2, 2019

Mr. Wazirzada Yasir Almas Khan

Depurty Director
Securities Exchange & Commission of Pakistan
NIC building Jinnah Avenue, Blue Area
Islamabad.

Dear Sir,

Re: Draft Circular on Proposed Changes in Conditions for Charging of Selling and
Marketing Expenses to Mutual Funds

This is with reference to your letter dated March 29, 2019 regarding proposed changes in
condition for charging of selling and market expenses to mutual funds. In this regard, we
would like to inform you that we have gone through the proposed changes and we
recommend that point number 1 in clause e (i.e Technology and Software development) is a
very general condition rather it should be specifically related to investor related activity.
Whereas, rest of the points in clause e seem more specific and also seem related to investor
promotion, hence should be allowed to be charged to collective investment schemes.

Regards,

_______________ _____________________
Ghulam Murtaza Khawaja Anwar Hussain
Head of Internal Audit Chief Executive Officer

4th Floor, Perdesi House, 2/1, R-Y-16, Old Queens Road, Karachi – 74200
Direct Nos. 021-32430485, 32415454, 32415204, 32428731 PABX No. 021-32419770, Fax No. 021-32416371
Website: http://www.mcbfsl.com.pk,
,