The Pakistan Credit Rating Agency Limited
30-Mar-26
Analyst
Usama Ali
usama.ali@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Apr-25
- Methodology | Rating Modifiers | Apr-25
- Methodology | Broker Entity Rating | Jan-26
Related Research
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PACRA Withdraws the Entity Ratings of Alfalah Securities (Pvt.) Limited
| Rating Type | Entity | |
|
Current (30-Mar-26 ) |
Previous (23-Apr-25 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | A- |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | Yes |
The Pakistan Credit Rating Agency Limited has withdrawn the entity ratings of Alfalah Securities (Pvt.) Limited (“ASPL”), following the Company’s formal request to discontinue rating services. The rating withdrawal is underpinned by a significant change in ownership and operational status. Approximately 99.75% shareholding of ASPL was acquired by Optimus Capital Management (Pvt.) Limited, effective October 17, 2025. In line with applicable regulatory requirements permitting operation of only one brokerage entity, ASPL initiated the surrender of its Trading Right Entitlement Certificate (TREC).
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About
the Entity
Alfalah Securities (Pvt.) Limited is majority-owned (99.75%) by Optimus Capital Management (Pvt.) Limited (“OCM”). OCM is a brokerage firm licensed by the Pakistan Stock Exchange and regulated by the Securities and Exchange Commission of Pakistan. Originally incorporated in 2004 as Millennium Capital Management (Pvt.) Limited, the Company was rebranded as OCM in 2011. It operates as a wholly owned subsidiary of Optimus Holdings (Pvt.) Limited, with ownership held by Jawad Amjad (74%) and Yasin Iqbal Kodvani (26%). OCM’s Board comprises two executive directors with extensive expertise in financial markets. The Company is well-positioned as a credible participant in Pakistan’s capital markets, supported by strong regulatory compliance, experienced leadership, and strong governance framework.