KTrade, a stock trading application owned and operated by Karachi-based brokerage firm KASB Securities, raised $4.5 million in a round of financing led by Hong Kong investment company TTB Partners and New York-based global VC HOF capital.

It allows its users to register for a brokerage account and start trading at prices as low as 5,000 PKR (32 USD). According to the company’s statement, it charges 0.03 PKR for stocks priced at or below 20 PKR and 0.15% for stocks priced above 20 PKR.

Since the launch of the mobile application, a total of 200,000 people have registered to access research and virtual commerce.

Ali Farid, chairman of KASB, previously served as the chief financial officer of SafeCharge, a British financial technology, said in a conversation with MENAbytes that nearly thousands of users use the app to trade stocks.

 The trading volume provided by your broker now comes from the app.

Ali Farid said in a statement, “KTrade will allow these mobile device populations to participate in investment opportunities first. By connecting these people with businesses, we can increase The capital trapped in non-performing assets in the formal economy ultimately promotes a virtuous circle of economic growth and increased investment.”

 Jonathan Bond, the managing partner of TTB Partners, who leads KTrade’s financing, said: “Pakistan and South Asia have some of the most exciting market dynamics and demographic data in the world.KTrade has the ability to take advantage of the democratization of finance in the region. We are very happy to invest in the latest round of funding for KASB and support Ali and his world-class team on their ongoing journey.”

The post How Ktrade Plans To Drive A Boom In Pakistani Share Trading appeared first on Techlist.

Under the chairmanship of Anusha Rehman a meeting was called that was attended by Ministry of Information Technology and Telecom and Pakistan Software Export Board. The aim of the meeting was to have a look at the work being done for establishment of IT parks that are being constructed in Karachi and Lahore.

Minister’s Internship Program and Capability Maturity Model Integration (CMMI) certification programs was also the topic of discussion.

Anusha Rehman was the chair person of the meeting that was called to review the projects that have started across Pakistan to promote IT industry of Pakistan. The meeting also assessed the steps that have been taken to establish successful export industry.

Asim Shahryar who is serving as Managing Director of PSEB reported to the ministry that to get the land for the construction of IT park in Lahore a MoU has been signed with Lahore Knowledge Park Company. He also informed that a consent has been received by Asian Development Bank for the study of IT Park in Karachi.

According to the news 1500 interns have already been set in IT companies and non IT departments. Later this year another group of 1500 interns will be placed for better work.

The board was also informed about the companies that have been shortlisted for the CMMI and ISO certifications. There were about 21 IT companies in the list. The process is to be completed in February. This way they will work with foriegn clients in a much easier way.

Anusha Rehman guided the everyone expedite the feasibility studies of IT parks.

She said,

“Maximum IT graduates should benefit from the Prime Minister’s Internship Program. Local auditors should be used for CMMI certification instead of foreign auditors for cost effectiveness.”

The post IT Ministry to Build Soon IT Parks in Lahore and Karachi appeared first on Techlist.