Pakistan’s Rauf given two-match ban, others sanctioned for Asia Cup behavior

Pakistan’s Rauf given two-match ban, others sanctioned for Asia Cup behavior
Pakistan's Haris Rauf gestures towards the spectators during the Asia Cup 2025 Super Four Twenty20 international cricket match between India and Pakistan at the Dubai International Stadium in Dubai on September 21, 2025. (AFP)
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Pakistan’s Rauf given two-match ban, others sanctioned for Asia Cup behavior

Pakistan’s Rauf given two-match ban, others sanctioned for Asia Cup behavior
  • Others whohave been sanctioned include India’s Suryakumar Yadav and Jasprit Bumrah as well as Pakistan’s Sahibzada Farhan
  • Emotions ran high around the matches between the nuclear-armed neighbors, who engaged in a brief military conflict in May

Pakistan fast bowler Haris Rauf has received a two-match suspension for breaching the ICC’s code of conduct during matches against India at the Asia Cup in September, the governing body said on Tuesday.

India’s Suryakumar Yadav and Jasprit Bumrah as well as Pakistan’s Sahibzada Farhan also committed the same offense of breaching article 2.21 of the ICC’s code of conduct, which relates to “conduct that brings the game into disrepute,” the ICC said in a statement.

Emotions ran high around the matches between the nuclear-armed neighbors, who engaged in a brief military conflict in May.

The teams faced each other three times in the eight-team tournament with India prevailing on all three occasions. Defending champions India refused to shake hands with Pakistani players during the matches.

The ICC, cricket’s governing body, did not state the specific nature of the offenses in its statement on Tuesday.

ESPNCricinfo reported in September that Rauf had made numerous gestures to indicate aircraft going down, while Farhan celebrated by holding his bat like a gun.

India captain Yadav made a remark dedicating their win over Pakistan on September 14 to the Indian armed forces, prompting the Pakistan Cricket Board to file a complaint against him to the ICC. Cricinfo reported on Tuesday that Bumrah was cited for a gesture he made during the final.

India, who won the final on September 28, refused to accept the trophy from Asian Cricket Council president and Pakistan’s interior minister Mohsin Naqvi.

Rauf, who received four demerit points for two offenses, misses Pakistan’s One-Day International (ODI) matches against South Africa on Tuesday and Thursday. He was also fined 30 percent of his match fees in two games.

Yadav was also fined 30 percent of his match fees in one match. Bumrah and Farhan were given official warnings.


Pakistan approves new book-building mechanism to boost capital market transparency

Pakistan approves new book-building mechanism to boost capital market transparency
Updated 9 sec ago

Pakistan approves new book-building mechanism to boost capital market transparency

Pakistan approves new book-building mechanism to boost capital market transparency
  • New framework allows all brokers, banks, DFIs and mutual funds to participate directly in book-building process
  • Eligible participants will be able to place bids directly in the book-building system for themselves or their clients

KARACHI: Pakistan’s Securities and Exchange Commission (SECP) said on Tuesday it had approved a new book-building mechanism to modernize capital markets, promote fair pricing and improve transparency.

The new framework will allow all securities brokers, banks, development finance institutions and mutual funds to participate directly in the book-building process. It aims to strengthen investor confidence while supporting the SECP’s broader goal of deepening market participation and improving efficiency.

The move is part of the regulator’s ongoing efforts to reform capital markets in the South Asian country, which have long faced challenges of low investor participation and limited transparency in public offerings.

“Eligible participants can place bids directly into the book building system, either on their own behalf or for their clients,” the SECP said in a statement. “Investors are also given the flexibility to choose between disclosed or undisclosed bids, ensuring confidentiality in bid visibility where desired.”

The Pakistan Stock Exchange (PSX) and the National Clearing Company of Pakistan Limited (NCCPL) have jointly developed this book building system, aligned with the revised regulations.

“By enabling wider participation, the new mechanism is expected to expand outreach, enhance efficiency, and improve overall market competitiveness,” the SECP said.

The new system establishes an operational framework and procedures for book-building in initial public offerings (IPOs), according to the regulator. It leverages the capital market’s existing technological infrastructure, integrating the PSX book-building platform with NCCPL’s functions for collection, settlement and margin refunds.

“The system provides securities brokers with an intuitive interface to onboard clients efficiently,” the SECP said. “Similarly, banks and DFIs acting as a Consultant to the Issue in an IPO can also register their clients for participation.”