Treasure Magazine

Treasure Magazine

PSBA hails SECP’s approval for opening online accounts with brokers

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It was our outstanding demand to enable all the resident and non-resident investors to open an online account in the Capital Market of Pakistan, says Association

KARACHI: Pakistan Stock Brokers Association (PSBA) hailed the decision of Securities and Exchange Commission of Pakistan (SECP) to approve the framework for the online digital onboarding of investors.

SECP has allowed investors to open a digital account with a broker from anywhere in the country without requiring to submit any documents physically or visit a broker, the SECP Statement said.

In a press statement, the PSBA said it was our outstanding demand to enable all the resident and non-resident investors to open an online account in the Capital Market of Pakistan.

The statement said that the new regime is a part of SECP digital formation agenda that will allow investors to open an account with a broker from anywhere without requiring them to submit any documents physically. This will certainly increase the size of the investor base which is very crucial for the development of the market.

On behalf of the stock brokers/TREC Holders of Pakistan Stock Exchange, the PSBA thanked the commission for helping in such matters for the growth of the industry. The PSBA also thanked to other capital market entities involved in this project.