SECP makes stock market investing faster with digital onboarding

Mettis Global reported that the Securities and Exchange Commission of Pakistan has rolled out a digital onboarding framework meant to ease and speed up entry into the stock market. Facilitation accounts can be set up in a single day, while investor account applications are to receive a decision within two days. Applicants will also be able to follow progress through a tracking ID.

Under the framework, onboarding and processing can be carried out digitally around the clock, 24/7. Brokers must now put in writing the reasons for refusing an account opening request, and investors who were verified earlier will not have to go through verification again.

The regulator's target is to raise the investor base to 2.5 million, and bringing more young people into the market is described as a central goal. Chairman Dr. Kabir Ahmed Sidhu said technology is helping make equity investing simpler, and that Pakistan's capital market holds considerable potential for growth.