A significant development in Pakistan’s data governance landscape took shape as the National Institute of Banking & Finance (NIBAF) Pakistan announced the successful completion of the draft Data Archiving and Retention Policy for the Securities and Exchange Commission of Pakistan (SECP). What began in July 2025 as a structured learning initiative has now culminated in a major institutional milestone, marking a notable advancement in how regulatory bodies approach data management, workflows, and information retention.
The initiative spanned several months and evolved from a training-focused engagement into a comprehensive policy-making exercise. Throughout this timeline, NIBAF worked closely with SECP teams to understand the organization’s operational realities, legacy data practices, and department-specific needs. The journey involved nearly 30 one-on-one consultations across SECP departments, supported by training sessions centered on core principles of data archiving and retention. These early sessions laid the foundation for a deeper exploration of existing processes and challenges related to redundant information and outdated storage practices.
Around 35 follow-up working sessions were held, enabling both teams to break down complexities, assess longstanding information burdens, and identify opportunities to optimize data structures. Through this collaborative process, a clearer picture emerged of how large institutions often store information for years, only to find it inaccessible or impractical when urgently required. The insights gathered not only informed the policy draft but also encouraged a broader reflection on data governance culture within public-sector organizations.
The concluding session on November 21, 2025, marked the formal presentation of the policy. CEO NIBAF Pakistan, Ms. Lubna Farooq Malik, handed over the draft to the CEO SECP, Mr. Akif Saeed. He acknowledged the effort, appreciated NIBAF’s continued commitment, and reaffirmed SECP’s intent to move the draft policy forward for approval. The exchange underscored the importance of inter-institutional collaboration in shaping governance frameworks that can support future operational challenges.
This achievement represents more than a policy document—it showcases what consistent effort, shared purpose, and structured engagement can produce. Both organizations demonstrated openness and mutual trust throughout the process, transforming what began as a learning initiative into a blueprint aimed at strengthening SECP’s long-term data governance practices. The outcome reflects a step toward modernized data management systems, reduced information redundancies, and improved institutional efficiency.
As digital ecosystems grow increasingly complex, the need for clear, well-designed data retention strategies becomes more urgent. This policy initiative signals that Pakistan’s regulatory bodies are moving toward more structured, forward-looking approaches in managing information lifecycles. It sets the stage for continued collaboration between NIBAF and SECP, while encouraging other institutions to rethink how data is stored, accessed, and governed.
The completion of the draft policy is a reminder that organizations preparing for the future must align their data frameworks with evolving regulatory expectations and operational realities. With this milestone, both NIBAF and SECP move closer to building governance practices that support transparency, efficiency, and readiness for emerging challenges.
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