The Securities and Exchange Commission of Pakistan (SECP) has taken a new initiative to attract more Overseas Pakistanis to the country’s capital markets.
Now you don’t need to submit any documents physically or visit a broker to get your account opened. All resident and non-resident Pakistani investors can get their online accounts easily and participate in the stock exchange market freely. This is one of the many changes made under “SECP’s reform agenda’ to attract more investors and digitize the system.
According to the briefing tweet from SEC Pakistan, “The online verification will be conducted independently by the Centralized KYC Organization. In addition, the account opening process has been made simpler by reducing the number of pages to be signed by the investors.”
One of the PTI government’s main goal has always been to pull Overseas Pakistanis a little closer. Therefore, this step will surely be beneficial for the economy as now it will be easier for overseas Pakistani to invest in our capital markets.
The tweet also mentioned how these new reforms will revolutionize the capital markets of Pakistan and will play a significant role in the economy’s improvement by channeling investments and savings through the market.