Islamabad
\nThe Securities and Exchange Commission of Pakistan has signed Memoranda of Understanding (MoUs) with Askari Bank Limited and NayaPay to make it easier and faster for companies to open corporate bank accounts.
\nUnder this arrangement, once a company is registered with SECP, its directors will get an online option to open a bank account in a bank of their choice. There will be no need for lengthy manual processes.
\nSECP\u2019s eZfile system will be connected with the systems of partner banks through a secure digital link. This will allow instant verification of company data. As a result, companies will be able to open bank accounts quickly with less documentation and fewer delays.
\nThe MoU was signed by Commissioner SECP Mr. Muzzafar Ahmed Mirza, Askari Bank\u2019s Group Head Retail Banking Mr. Shaikh Raashed Rauf, and NayaPay\u2019s CEO Mr. Danish Ahmad Lakhani. The ceremony was attended by SECP Chairperson Dr. Kabir A. Sidhu, President Askari Bank Mr. Zia Ijaz, and senior officials.
\nThis step is part of SECP\u2019s \u201cPaper to Platform\u201d initiative. The aim is to digitize processes and improve ease of doing business. It also builds on SECP\u2019s earlier partnerships with financial institutions.
\nSpeaking at the event, Chairperson SECP Dr. Kabir Ahmed Sidhu said that close coordination between SECP and financial institutions will help provide complete digital onboarding for businesses. He said this will reduce barriers, improve transparency, and support financial inclusion.
\nOfficials of Askari Bank and NayaPay welcomed the initiative. They said it will not only make account opening easier but also support future cooperation in lending and digital financial services.
\nEarlier, SECP signed similar agreements with Mobilink Microfinance Bank Limited, Easypaisa Bank Limited, Mashreq Bank, and Raqami Islamic Digital Bank Limited.
\nThe initiative will help companies start operations faster after registration. It will also strengthen links between banks and capital markets and support a more efficient and transparent business environment in Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad The Securities and Exchange Commission of Pakistan has signed Memoranda of Understanding (MoUs) with Askari Bank Limited and NayaPay to make it easier and faster for companies to open corporate bank accounts. Under this arrangement, once a company is registered with SECP, its directors will get an online option to open a bank account …<\/p>\n","protected":false},"author":4,"featured_media":95804,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-95822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=95822"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95822\/revisions"}],"predecessor-version":[{"id":95834,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/95822\/revisions\/95834"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/95804"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=95822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=95822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=95822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}