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    Brokerage Firms

    Name Rating Outlook Status Dissemination Date
    Azee Securities (Pvt.) Ltd Active
    Altaf Adam Securities (Private) Limited Active
    Muhammad Hussain Ismail Securities (Private) Limited Active
    Dalal Securities (Private) Limited Active
    S M Securities (Private) Limited Applied for Relinquishment / Suspended T & T
    Sherman Securities (Pvt.) Ltd. Active
    Standard Capital Securities (Private) Limited BFR3 Stable Active 9/29/2022
    Amanah Investments Limited BMR3 Stable Active 23-Nov-22
    Tannu Securities (Private) Limited Active
    Optimus Capital Management (Pvt.) Ltd. A- Stable Active 07/04/2023
    Investec Securities Ltd. (Under Suspension) Suspended
    Sakarwala Capital Securities (Pvt.) Ltd. Active
    Patel Securities (Private) Limited Applied for Relinquishments
    ACM Global (Private) Limited Non-Active
    Fikree's (Private) Limited Active
    Reliance Securities Limited Non-Active
    First Choice Securities Limited Active
    Sunrise Capital (Private) Limited Trading Terminals Suspended
    Saya Securities (Private) Limited Active
    Axis Global Limited Active
    DJM Securities Limited BMR3+ Stable Active 1/27/2023
    Alfalah CLSA Securities (Private) Limited BFR 2+ Stable Active 28/04/2023
    Summit Capital (Private) Limited Active
    Ismail Iqbal Securities (Pvt.) Limited BFR 3 Stable Active 13/06/2023
    Salim Sozer Securities (Private) Limited Active
    AKD Securities Limited Stable Active 02/09/2023
    Muhammad Ashfaq Hussain Securities (Private) Limited Active
    MAS Capital Securities (Pvt) Ltd Trading Terminals Suspended
    Alpha Capital (Private) Limited BMR3++ Stable Active 4/17/2023
    EFG Hermes Pakistan Limited BMR2+ Stable Active 23/12/2022
    BMA Capital Management Limited A- Stable Active 10/18/2022
    Gazipura Securities & Services (Private)Limited Active
    Khanani Securities (Private) Limited Active
    NINI Securities (Private) Limited Active
    ASDA Securities (Private) Limited Active
    H. M. Idrees H. Adam (Private) Limited Active
    Vector Securities (Private) Limited Active
    Taurus Securities Limited BFR3+ Stable Active 12/30/2022
    Habib Metropolitan Financial Services Limited BFR 3+ STABLE Active 17/05/2023
    Mannoo Capital (Private) Limited Active
    Ghani Osman Securities (Private) Limited Active
    GMI Capital Securities (Private) Limited Active
    AKY Securities (Private) Limited Active
    Eleven Stars Securities (Private) Limited Active
    Y. H. Securities (Private) Limited Active
    Zafar Moti Capital Securities (Pvt.) Ltd Active
    Asian Securities Limited Applied for Relinquishment
    Arif Habib 1857 (Private) Limited Non-Active
    M.M. Securities (Private) Limited Active
    Surmawala Securities (Private) Limited Active
    Float Securities (Private) Limited Active
    Time Securities (Private) Limited Active
    Foundation Securities (Pvt.) Limited BMR2 Rating Watch - Developing Active 11/22/2022
    Saao Capital (Private) Limited Active
    HH Misbah Securities (Private) Limited Active
    Dattoo Securities (Private) Limited Applied for Relinquishments
    A.H.M. Securities (Private) Limited Active
    Adam Securities Limited BFR3++ Stable Active 9/30/2022
    Ghory's Securities (Private) Limited Non-Active
    A. I. Securities (Private) Limited Active
    Fine Securities (SMC-Private) Limited (Under Suspension) Suspended
    Oriental Securities (Private) Limited Active
    Live Securities Limited Non-Active
    JS Global Capital Limited AA Stable Active 14/12/2022
    IGI Finex Securities Limited BMR2+ Stable Active 26/08/2022
    Javed Omer Vohra & Company Limited Non-Active
    Bhayani Securities (Private) Limited Active
    Muhammad Anaf Kapadia Securities (SMC-Private) Limited Non-Active
    Fortune Securities Limited BMR2 Stable Active 11/22/2022
    Creative Capital Securities (Private) Limited Active
    Zillion Capital Securities (Pvt.) Ltd Active
    B & B Securities (Private) Limited Active
    Next Capital Limited A- Stable Active 08/03/2022
    Z. A. Ghaffar Securities (Private) Limited Active
    Multiline Securities Limited BFR3+ Stable Active 05/02/2023
    H & H Securities (Private) Limited Non-Active
    Arif Habib Limited AA- Stable Active 3/9/2022
    Royal Securities (Private) Limited Trading Terminals Suspended
    N.U.A. Securities (Private) Limited Active
    Rafi Securities (Private) Limited Active
    Bawa Securities (Pvt.) Ltd. Active
    Shajar Capital Pakistan (Private) Limited Active
    Moonaco Securities (Private) Limited Active
    Pak Meezan Securities (Pvt.) Limited Trading Terminals Suspended
    Nael Capital (Private) Limited Active
    Aba Ali Habib Securities (Private) Limited BMR2 Stable Active 15/03/2023
    First Capital Equities Limited Non-Active
    Friendly Securities (Private) Limited Active
    Dawood Equities Limited A- stable Active 20/09/2022
    H.H.K. Securities (Pvt.) Limited Trading Terminals Suspended
    Interactive Securities (Private) Limited Active
    WE Financial Services Limited Active
    Topline Securities Limited BFR2 Stable Active 11/24/2022
    Al Habib Capital Markets (Pvt.) Limited BMR2+ Stable Active 19/07/2022
    AMZ Securities (Private) Limited Non-Active
    Tariq Vohra Securities (Private) Limited Active
    Pearl Securities Limited BMR2 Stable Active 9/13/2022
    Iqbal Usman Kodvavi Securities (Pvt.) Ltd Active
    Ample Securities (Private) Limited Active
    Zafar Securities (Private) Limited BFR 3+ Stable Active 09/03/2023
    Spectrum Securities Limited BFR 3 Stable Active 30/11/2022
    Invisor Securities (Private) Limited Non-Active
    First National Equities Limited Active
    TS Securities (Private) Limited Active
    Muhammad Salim Kasmani Securities (Private) Limited Active
    Bawany Securities (Private) Limited Active
    A.H.K.D. Securities (Pvt.) Limited Trading Terminals Suspended
    Fortress Financial Services (Private) Limited Non-Active
    Continental Capital Management (Pvt) Ltd. Active
    Irfan Mazhar Securities (Pvt.) Limited Active
    Dawood Mohammed Securities (Private) Limited Active
    Mayari Securities (Private) Limited Active
    First Equity Modaraba Active
    Al-Mal Securities & Services Ltd. (Under Suspension) Suspended
    R. T. Securities (Pvt.) Limited Active
    Muhammad Munir Muhammad Ahmed Khanani Securities Limited BFR2 Stable Active 11/15/2022
    Prime Securities (Private) Limited Active
    Fort Securities (Private) Limited Trading Terminals Suspended
    Inveslink Capital (Private) Limited Active
    Muhammad Tariq Moti Securities (Private) Limited Active
    Fawad Yusuf Securities (Private) Limited Active
    Investment Managers Securities (Private) Limited BMR3 Stable Active 5/30/2023
    SAZ Capital Securities (Pvt.) Ltd. Active
    Apex Capital Securities (Private) Limited Active
    Darson Securities Limited BBB+ Stable Active 12/30/2022
    Pervez Ahmed Capital (Private) Limited Non-Active
    Intermarket Securities Limited BFR3++ Stable Active 3/3/2023
    Kosmopolitan Securities (Private) Limited Active
    Memon Securities (Private) Limited Active
    Akhai Securities (Pvt.) Limited Active
    Venus Securities (Private) Limited Active
    MRA Securities Limited BFR3+ Negative Active 11/14/2022
    FDM Capital Securities (Private) Limited BMR3++ Stable Active 01/03/2023
    RAH Securities (Private) Limited Applied for Relinquishment
    SNM Securities (Private) Limited Trading Terminals Suspended
    Insight Securities (Private) Limited BMR2 Stable Active 11/24/2022
    MSMANIAR Financials (Private) Limited Active
    Brains Securities (Pvt.) Ltd. Active
    Fairtrade Capital Securities (Private) Limited Active
    Backers & Partners (Private) Limited Active
    Sattar Chinoy Securities (Pvt.) Limited Non-Active
    RUC Securities (Private) Limited Trading Terminals Suspended
    Elixir Securities Pakistan (Private) Limited Non-Active
    AB Equities (Pvt) Ltd. Trading Terminals Suspended
    Growth Securities (Pvt.) Limited A- Negative Active 6/13/2023
    Horizon Securities Limited Active
    MAC Securities (Private) Limited Applied for Relinquishment / Suspended T & T
    Amaan Capital (Private) Limited Non-Active
    Seven Star Securities (Private) Limited Active
    Innovative Brokerage (Private) Limited Under Liquidation/Non-Active
    Z M Capital (Private) Limited Trading Terminals Suspended
    Millennium Brokerage (Private) Limited Active
    Reliance Capital (Pvt.) Ltd.(Under Suspension) Suspended
    Maan Securities (Private) Limited Active
    K & I Global Capital (Private) Limited Active
    Al-Haq Securities (Private)Limited Active
    Fairway Securities (Private) Limited Active
    Saima Qaiser Securities (Private) Limited Active
    Arif Latif Securities (Private) Limited Active
    Mr. Athar Ali Shah Non-Active
    Value Stock and Commodities (Private) Limited Active
    Grand Capital Securities (Private) Limited Broker Licence Expired/Non-Active
    IAK Securities (Pvt.) Limited Applied for Relinquishment/Non-Active
    First Fidelity Leasing Modaraba First Fidelity Leasing Modaraba
    Ayub Chaudhry Investments (Private) Limited Active
    F.M. Securities (Private) Limited Trading Terminals Suspended
    Progressive Investment Management (Private) Limited Active
    Millennium Securities & Investment (Private) Limited Trading Terminals Suspended
    Ktrade Securities Limited BMR2 Stable Active 09/06/2022
    Spinzer Equities (Private) Limited Active
    First Pakistan Securities Limited Applied for Relinquishment/Non-Active
    Enrichers Securities (Private) Limited Trading Terminals Suspended
    MND Investment (Private) Limited Active
    Fair Edge Securities (Private) Limited Active
    Shajarpak Securities (Pvt.) Ltd. Active
    S. A Securities (Private) Limited Trading Terminals Suspended
    Progressive Securities (Private) Limited Active
    Punjab Capital Securities (Private) Limited Active
    General Investment & Securities (Private) Limited Active
    M.F. Stocks (Private) Limited Applied for Relinquishment/Non-Active
    Xpert Securities Limited Trading Terminals Suspended
    GPH Securities (Private) Limited Active
    Beaming Investment & Securities (Private) Limited Under Litigation/Non-Active
    Ali Securities (Private) Limited (Under Suspension) Suspended
    Habib Ullah Sheikh (Private) Limited Active
    Fincap Investments (Private) Limited (Under Suspension) Suspended
    Infinite Securities Limited Suspended Trading Terminals
    Prime Capital Management (Private) Limited Trading Terminals Suspended
    Shaffi Securities (Private) Limited Active
    Islamabad Securities (Private) Limited (Under Suspension) Suspended
    Bismillah Securities (Private) Limited Suspended Trading Terminals
    AAA Securities (Private) Limited Active
    SMAC Investments (Private) Limited Suspended Trading Terminals PSX
    Sethi Securities (Private) Limited Active
    United Equities (SMC-Private) Limited Broker Licence Expired/Non-Active
    QF Securities (Pvt.) Ltd. Broker Licence Expired/Non-Active
    Unex Securities (Private) Limited Applied for Relinquishment/Non-Active
    Rahat Securities Limited Active
    CAMCO (Private) Limited Active
    Salman Majeed Securities (Private) Limited Active
    Pasha Securities (Private) Limited Active
    ASA Stocks (Private) Limited Active
    Riaz Ahmed Securities (Private) Limited Active
    Dosslani’s Securities (Private) Limited Active
    New Peak Securities (Private) Limited Active
    High Land Securities (Private) Limited Active
    Hamza Farhad Securities (Pvt) Limited Active
    Javed Iqbal Securities (Private) Limited Active
    Baba Equities (Private) Limited Active
    Multiple Investment Management Ltd. Broker Licence Expired/Non-Active
    First Street Capital (Private) Limited Active
    K.H.S. Securities (Private) Limited Active
    Orion Investments (Private) Limited (Under Suspension) Suspended
    INA Securities (Private) Limited Active
    BRR Financial Services (Private) Limited Non-Active
    Integrated Equities Limited BFR3++ Stable Active 03/03/2023
    JSK Securities Limited Active
    Yasir Mahmood Securities (Private) Limited Active
    MGM Securities (Private) Limited Active
    MSD Capital Equities (Private) Limited Active
    Allied Securities (Pvt.) Ltd. Trading Terminals Suspended
    AM Chaudhary Securities (Private) Limited Active
    Kayzone Capital Markets (SMC-Private) Limited Trading Terminals Suspended
    Syed Sarmad Maqsood Al Husainy (Under Suspension) Suspended
    Bridge Securities (Private) Limited Active
    HMC Stocks (Private) Limited Active
    Chippa Securities (Private) Limited Trading Terminals Suspended
    Ahsam Securities (Pvt) Limited Active
    Abbasi & Company (Private) Limited BFR 2 Stable Active 24/06/2022
    HP Securities (Private) Limited Active
    MAHA Securities (Private) Limited Non-Active
    KP Securities (Private) Limited Active
    Asad Mustafa Securities (Private) Limited Active
    JCR Capital Securities (Private) Limited Trading Terminals Suspended
    Sher Capital Equities (Pvt) Ltd Trading Terminals Suspended
    Mir Shah Jahan Khetran (Under Suspension) Suspended
    CMA Securities (Private) Limited Active
    Adeel & Nadeem Securities (Private) Limited Active
    Rich Securities (Private) Limited (Under Suspension) Suspended
    Union Securities (Private) Limited Trading Terminals Suspended
    Galaxy Capital Securities (Private) Limited Active
    Dr. Arslan Razaque Securities (Private) Limited Active
    As per NAB’s direction. However, further transfer will be made only to the eligible person Inactive
    Gul Dhami Securities (Private) Limited Active
    FALKI Capital (Pvt) Limited Active
    128 Securities (Private) Limited Active
    Akik Capital (Private) Limited BMR3 Stable Active 11/11/2022
    S. D. Mirza Securities (Private) Limited Active
    Muhammad Amer Riaz Securities (Private) Limited Active
    Adam Usman Securities (Private) Limited Active
    Money Line Securities (Private) Limited Active
    Chase Securities Pakistan (Private) Limited BMR3++ Stable Active 6/5/2023
    Trust Securities & Brokerage Limited BMR2+ Stable Active 20/09/2022
    Ocean Securities Limited Active
    BMS Capital (Pvt.) Ltd. Trading Terminals Suspended
    H.G Markets (Private) Limited Non-Active
    Networth Securities Limited Active
    Orbit Securities (Private) Limited Active
    A B M Securities (Pvt.) Ltd. Active
    Stocxinvest Securities (Private) Limited BFR4++ Active 5/18/2023
    Switch Securities (Pvt.) Limite Trading Terminals Suspended
    AHM Securities (Pvt.) Limited BFR 3 Stable none 14/06/2023
    Khawaja Securities (Pvt.) Ltd. Active
    Cedar Capital (Pvt.) Limited BFR 3 Stable none 24/06/2022
    As per NAB’s direction. However, further transfer will be made only to the eligible person. Inactive
    Strongman Securities (Pvt.) Ltd. Active
    Amer Securities (Pvt.) Ltd. Active
    A.S. Securities (Pvt.) Ltd. Active
    Gulrez Securities (Pvt.) Ltd Active
    Mikon Securities (Pvt.) Ltd. Non
    First Equity Modaraba Under Litigation/Non-Active
    Zahid Latif Khan Securities (Private) Limited Active
    SMB Securities (Private) Limited Broker Licence Expired/Non-Active
    Margalla Financial (Private) Limited Active
    Source: The information displayed in this table is gathered from Pakistan Stock Exchange(PSX) and Rating from PACRA.

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