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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (159793)	3/29/2005 3:03:27 PM
From: Sultan	Respond to of 281500

lol.. You are essentially right in that you need the national identity card to open an account.. bank or brokerage etc.. and the card is issued only to a citizen, resident or otherwise.. As far as close-end funds go, I have not looked into it lately. I remember there was a Pakistani close-end fund on NYSE in early 90s, but it was eventually closed down.. Karachi stock market is limited.. in terms of types of companies listed.. Banks, cement companies, telecom etc. have all done really well.. There are now some online brokers and traders playing the market but it is in infancy and whole house of cards I think is dependent on Musharaf and Shaukat Aziz staying at the helm for another few years to make permanent changes.. With 1 USD = to 60 Rupees or so, you can live like a lord there with 2-3 grand a month.. By the way, along with the stock market, housing prices there have also gone nuts like rest of the world..