ISLAMABAD(National Times)- The Securities and Exchange Commission of Pakistan (SECP) has introduced a unified digital investor onboarding framework to make entry into Pakistan\u2019s capital market \u201cfaster and easier by reducing repetitive verification, simplifying documentation and setting clear timelines for opening investor accounts\u201d.<\/p>\n\n\n\n
The framework aims particularly to facilitate first-time and digital investors, with \u2018Sehl\/Sahulat\u2019 accounts to be processed within one working day and normal accounts within two working days, according to an SECP statement issued on Friday.<\/p>\n\n\n\n
\u201cApplicants will receive tracking IDs, while any deficiencies will be communicated within the prescribed timeframe and reasons for rejection provided in writing,\u201d it stated.<\/p>\n\n\n\n
The statement said the initiative was part of the SECP\u2019s broader drive to expand retail participation, particularly among young Pakistanis, and increase the country\u2019s capital-market investor base to 2.5 million.<\/p>\n\n\n\n
\u201cOur focus is to remove entry barriers and use technology to make the investor journey simpler, faster and more accessible,\u201d SECP Chairman Dr Kabir Ahmed Sidhu was quoted as saying.<\/p>\n\n\n\n
\u201cThe objective is to unlock the significant untapped potential of Pakistan\u2019s capital market by broadening participation, particularly among the youth, and building a deeper and more inclusive market,\u201c he elaborated.<\/p>\n\n\n\n
The framework standardises onboarding requirements across \u201csecurities brokers, asset management companies, insurers and other regulated intermediaries, creating a more consistent investor experience across the regulated financial sector,\u201d the statement said.<\/p>\n\n\n\n
According to the SECP, the key feature of the framework is the elimination of repetitive customer verification. Where prescribed verification has already been completed by an eligible regulated financial institution or notified third party, intermediaries can rely on that verification instead of requiring investors to repeat the process.<\/p>\n\n\n\n
\u201cThe framework also enables API-based straight-through processing and digital onboarding, including instant UIN issuance and opening of CDC sub-accounts, reducing paperwork and manual intervention,\u201d the SECP said.<\/p>\n\n\n\n
A few months ago, the government of Pakistan also established the Capital Market Development Fund (CMDF), aimed at promoting financial literacy, expanding financial inclusion and increasing retail investor participation in the capital markets across the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD(National Times)- The Securities and Exchange Commission of Pakistan (SECP) has introduced a unified digital investor onboarding framework to make entry into Pakistan\u2019s capital market \u201cfaster and easier by reducing repetitive verification, simplifying documentation and setting clear timelines for opening investor accounts\u201d. The framework aims particularly to facilitate first-time and digital investors, with \u2018Sehl\/Sahulat\u2019 accounts […]<\/p>\n","protected":false},"author":2,"featured_media":132084,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-132083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest_news","entry"],"yoast_head":"\n