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The Securities and Exchange Commission of Pakistan (SECP) has reaffirmed its commitment to building a stronger Sukuk market and accelerating digital transformation to broaden access to finance, inclusion, and investment opportunities.
At a meeting held at SECP headquarters with Askari Bank President Zia Ijaz and senior bank officials, SECP Chairperson Akif Saeed stressed that Sukuk would serve as a cornerstone for deepening Pakistan’s Islamic capital market. He also outlined ongoing reforms under the Commission’s digitalization agenda aimed at increasing efficiency and accessibility across the financial sector.
Key measures include digital bank account opening for corporates, online distribution of financial products such as mutual funds, pensions, insurance, automatic induction of private company shares into the central depository, and expanded bank participation in both equity and debt markets.
The Chairperson praised Askari Bank for its pioneering work in promoting Sukuk as a Shariah-compliant funding tool, enabling corporates to diversify capital sources while creating attractive investment opportunities for both institutional and retail investors. He suggested holding joint sessions with banks to further advance digital service delivery.
The SECP also disclosed plans to introduce retail digital Sukuk in partnership with telecom companies, supported by fully digital subscription and trading processes. Additionally, the launch of micro-Sukuk is in the pipeline to provide affordable, Shariah-compliant investments for small savers and underserved communities.
