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On-line account opening for capital buyers allowed

by News Updater

ISLAMABAD: The Securities and Alternate Fee of Pakistan (SECP) on Thursday permitted a ground-breaking initiative to allow all Pakistani resident and non-resident buyers to open on-line accounts within the capital market.

The brand new regime, a part of the SECP’s digital transformation agenda, will enable buyers to seamlessly open his or her account with a dealer from anyplace within the nation with out requiring to submit any paperwork bodily or go to a dealer.

The brand new hassle-free course of can allow buyers to begin buying and selling swiftly, and to make sure most investor safety, an alternate on-line buyer verification course of has been launched for opening of on-line accounts.

The net verification will probably be performed independently by the centralised know-your-customer organisation. As well as, the account opening course of has been made easier by lowering the variety of pages to be signed by buyers.

The transfer is predicted to extend participation within the nation’s capital markets and contribute considerably in the direction of financial progress within the nation by channeling investments and financial savings by the market.

Printed in Daybreak, December 4th, 2020

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