SECP discontinues the escrow business of Crescent Star Insurance – Trendy Blogger
The Securities and Exchange Commission of Pakistan (SECP) has directed Crescent Star Insurance Limited (Crescent Star) to discontinue its guarantee business under Section 60 of the Insurance Act, 2000. The decision comes after the company issued guarantees worth Rs. 229 billion without obtaining the required guarantees or proper reinsurance arrangements. According to the details, to … Read more