NCCPL implements Business Continuity Framework
National Clearing Company of Pakistan Limited has devised various Risk Averse strategies for its National Clearing & Settlement System in a bid to provide seamless services
Karachi - 6th May, 2015: National Clearing Company of Pakistan Limited (NCCPL), which provides clearing and settlement services to all three stock exchanges in Pakistan, announced that the company has implemented a Business Continuity Framework in a bid to strengthen its state of the art National Clearing & Settlement System (NCSS). For this purpose, a Disaster Recovery (DR) drill was successfully conducted recently where NCSS services were provided to all LAN, Dialup and Remote clients through a remote DR/ Alternate Processing Site.
Being an ISO 27001 certified organization, Business Continuity Framework allows NCCPL to ensure services, that are critical to its objectives, are provided continuously despite the occurrence of a potentially disruptive event, stabilize the effects of such event, return to normal operations as quickly as possible and build high level resilience to any unforeseen events.
Speaking about the need to implement a Business Continuity Framework, Mr. Shafiq Ur Rehman Chief Information Officer (CIO) - NCCPL stated, “At NCCPL, we have always focused on providing un-interrupted services to all our customers and business partners. Our NCSS is a state of the art and fully automated software which we have perfected over the past decade, but we still are aware that risk is inherent and that some risks have the potential to interrupt services. The implementation of a Business Continuity Framework gives us the ability to be prepared for, respond to and manage such interruptions. Successful implementation of this Business Continuity Framework increases our ability to absorb, respond to and recover from disruptions. It also offers our customers and business partners the belief that we, as the sole clearing and settlement body, are doing everything possible to ensure our services are not impacted or hampered during a crisis.”
The DR Drill, a part of the Business Continuity Framework, was conducted after extensive efforts, test drills and vigorous testing of company systems, networks, equipments and facilities over the past month. The success of this drill ensures that NCCPL continues providing seamless clearing and settlement services through its NCSS to investors of all three stock exchanges of Pakistan; even in case of a crisis.