In a move aimed at improving investor access and simplifying the journey into Pakistan’s capital markets, the Securities and Exchange Commission of Pakistan (SECP) has constituted a committee tasked with reviewing and reforming the existing account opening processes with intermediaries at the Pakistan Stock Exchange (PSX).
According to a press release issued on Thursday, the committee will conduct a comprehensive evaluation of the end-to-end process currently in place for opening trading and investor accounts. This includes identifying bottlenecks in both operational and regulatory workflows that could be hindering efficient account initiation and discouraging potential investors, particularly in a time where ease of doing business and financial digitization are high priorities.
The committee’s core mandate is to recommend structural enhancements that will make the onboarding of new investors not only more streamlined but also aligned with modern digital practices. This effort signals the SECP’s broader push towards creating a more investor-friendly regulatory ecosystem—one that is responsive to market needs while maintaining strong compliance and risk management protocols.
The SECP has emphasized the importance of digital transformation in this space, highlighting that one of the committee’s objectives will be to propose actionable steps to increase digital onboarding capabilities. This is expected to reduce time and cost for both investors and intermediaries, ultimately making market participation more accessible to a broader audience across the country.
The committee is composed of representatives from major stakeholders in the capital market ecosystem. This includes officials from the SECP itself, as well as delegates from the Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited (NCCPL), Central Depository Company of Pakistan Limited (CDC), Pakistan Stock Brokers Association (PSBA), and EClear Services Limited. This collaborative approach is designed to ensure that insights from all critical players are incorporated into the reform roadmap.
The committee has been given a clear timeline, with a final report to be submitted to the SECP by August 18, 2025. The report will include detailed findings, proposed reforms, and a structured roadmap for implementing changes, especially in relation to process simplification and digital enablement.
This initiative comes at a time when capital market participation in Pakistan remains underwhelming relative to its potential. Industry experts believe that a more seamless and transparent onboarding process, particularly one enabled by digital tools, could significantly boost retail and institutional investor engagement. The move also reflects growing recognition of the need to align with international standards and expectations around digital finance and customer experience.
By addressing existing inefficiencies and modernizing investor interfaces, the SECP aims to reduce friction in market entry, improve investor confidence, and ultimately enhance the liquidity and dynamism of Pakistan’s equity markets. As the capital market community awaits the committee’s findings, the emphasis on digital integration and regulatory streamlining marks a forward-looking step in Pakistan’s financial evolution.