KARACHI: The Securities and Exchange Commission of Pakistan (SECP) signed memoranda of understanding with Askari Bank Limited and NayaPay, said a statement on Thursday, enabling newly registered companies to open corporate bank accounts digitally without lengthy manual processes.
Under the arrangement, directors of SECP-registered companies will be offered an online option to open a bank account with a partner institution upon registration. The commission's eZfile system will be integrated with partner banks through a secure digital link, allowing instant verification of company data and reducing documentation requirements.
The agreements form part of the SECP’s ‘Paper to Platform’ initiative, aimed at digitising regulatory processes and improving ease of doing business. The commission has previously signed similar arrangements with Mobilink Microfinance Bank, easypaisa Bank, Mashreq Bank and Raqami Islamic Digital Bank.
