Staff Reporter Islamabad
The Securities and Exchange Commission of Paki-stan (SECP), in collaboration with the National Incubation Center (NIC), organised a webinar on “Digital Onboarding of Investors”, a statement said on Friday.
The webinar highlighted the commission’s new regulatory regime that transformed the existing practices and “know your customer” (KYC) re-quirements for opening of trading accounts in the capital market.
Local investors who have bank accounts can open trading accounts with the brokers by sharing KYC information through respective banks with the Cen-tralised KYC Organisation, it said.
The facility of Sahulat account is also available for low-risk customers, where they don’t have to fulfil KYC requirements.
Moreover, the non-resident Pakistanis (NRPs) may also open their accounts digitally with the KYC information available with the banks where they are presently maintaining Roshan Digital Accounts.
A number of measures have been taken by the SECP to facilitate NRPs in opening accounts, which included removal of requirement of physical sub-mission of documents, allowing verification of documents through the Counsel General of Pakistan or from the notary public of respective country.