ISLAMABAD – The Securities and Exchange Commission of Pakistan (SECP) has simplified and expedited the process of opening corporate bank accounts for startups.
The SECP has signed a Memorandum of Understanding (MoU) with Mobilink Microfinance Bank Limited, Easypaisa Bank Limited, and Raqami Islamic Digital Bank Limited.
This collaboration builds on a recent SECP initiative that introduced a Standard Format for Board Resolutions to open corporate bank accounts. This standard aims to promote uniformity, transparency, and seamless banking integration for registered companies across Pakistan.
Through this partnership, same-day corporate account opening will be enabled via a secure, API-based integration between the SECP’s eZfile system and the partner banking platforms. This digital linkage will allow newly incorporated companies to commence operations immediately by eliminating procedural delays and reducing administrative hurdles.
Muzzafar Ahmed Mirza, Commissioner (SECP); Haaris Mahmood Chaudhary, President (Mobilink Bank); Jahanzeb Khan, CEO (Easypaisa Bank); and Umair Aijaz, CEO (Raqami Islamic Digital Bank), signed the MoU. Zeeshan Rehman Khattak, Commissioner (SECP); Akif Saeed, Chairperson SECP; and senior officials from all organisations were also present.
Akif Saeed emphasised the importance of continued collaboration with digital banks to explore opportunities for them to operate as distributors of SECP-regulated financial products. He reiterated the SECP’s unwavering commitment to ease of doing business, financial inclusion, and corporate digitisation, which empowers entrepreneurs to operate transparently and gain immediate access to formal financial channels.
This initiative marks another significant milestone in the SECP’s efforts to create a digitally connected, startup-friendly business ecosystem, enhancing investor confidence and fostering entrepreneurship across Pakistan.
