The Securities and Exchange Commission of Pakistan (SECP) Chairperson emphasized streamlining the account opening process in the country’s capital markets. In a meeting with leaders of key Capital Market Infrastructure Institutions (CMIIs), including Pakistan Stock Exchange (PSX), Central Depository Company (CDC), and National Clearing Company of Pakistan (NCCPL), the Chairperson stressed the need for a more convenient process for investors. The CEOs of PSX and NCCPL were present, while CDC’s Chief Operating Officer represented the depository.
The discussion focused on simplifying the account opening process to improve investor access and experience. The SECP head directed the CMIIs to review existing practices, identify bottlenecks, and implement changes to make the process faster, more cost-effective, transparent, and user-friendly. She emphasized a clear objective and prioritizing investor needs.
PSX was tasked to lead the collaboration among the CMIIs and stakeholders to move towards a simplified and expeditious account opening system. This project will outline specific measures to address existing challenges, enhance digital tools, and ensure timely account creation.