The Securities and Exchange Commission of Pakistan (SECP) has introduced a major step toward simplifying business operations by enabling startups and newly registered companies to activate corporate bank accounts on the same day of incorporation. This initiative is made possible through a new digital integration framework developed in collaboration with multiple financial institutions, aiming to reduce administrative delays and promote financial inclusion across Pakistan’s business landscape.
According to SECP officials, memorandums of understanding have been signed with Mobilink Microfinance Bank, Easypaisa Bank, and Raqmi Islamic Digital Bank to operationalize this service. The move builds upon SECP’s recent introduction of a standardised board resolution format for corporate account opening, which was designed to bring consistency and ease of compliance for businesses. With this latest development, the commission seeks to provide newly registered companies with direct access to banking services, eliminating lengthy manual verification procedures that often hinder early-stage business operations.
Under the newly implemented system, SECP’s eZfile platform will now be digitally linked with the partner banks through a secure API-based interface. This integration will allow companies to open their corporate bank accounts immediately after registration with SECP. The enhanced digital connectivity ensures that entrepreneurs can initiate transactions, manage finances, and commence operations without delay, creating a more agile environment for startups to thrive. This initiative aligns with the commission’s broader objective of promoting transparency, efficiency, and documentation in Pakistan’s financial and corporate sectors.
The official signing ceremony for the collaboration was attended by SECP Commissioner Muzaffar Ahmed Mirza, Mobilink Bank President Harith Mahmood Chaudhry, Easypaisa Bank CEO Jahanzaib Khan, and Raqmi Islamic Digital Bank CEO Umair Ayaz. SECP Chairperson Akif Saeed, Commissioner Zeeshan Rahman Khattak, and senior representatives from all participating institutions were also present at the event. Addressing the participants, Akif Saeed highlighted SECP’s ongoing efforts to expand its digital ecosystem, emphasising the importance of partnerships with digital banks to enhance accessibility to regulated financial products and services.
Saeed noted that this step reflects SECP’s commitment to supporting entrepreneurship and enabling a more inclusive financial system. By simplifying account opening procedures, the initiative aims to empower startups, strengthen documentation, and encourage formal economic activity. He reiterated that SECP will continue to collaborate with financial institutions to further advance Pakistan’s digital economy and improve ease of doing business for entrepreneurs and SMEs across the country. The digital integration between SECP and partner banks marks a crucial milestone in creating a transparent, connected, and efficient regulatory environment that supports the growth of innovative and compliant businesses.
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