2 min read
The Securities and Exchange Commission of Pakistan (SECP) has launched a new initiative to simplify and speed up the process of opening corporate bank accounts for startups and newly registered companies. The step aligns with SECP’s ongoing “Paper to Platform” vision, which focuses on digital transformation and business facilitation.
To drive this effort, the SECP signed a Memorandum of Understanding (MoU) with Mobilink Microfinance Bank Limited, Easypaisa Bank Limited, and Raqami Islamic Digital Bank Limited. The partnership builds on SECP’s recent introduction of a Standard Format for Board Resolutions, aimed at ensuring transparency and consistency in corporate banking procedures nationwide.
Under the new arrangement, startups will be able to open their corporate bank accounts on the same day through a secure, API-based integration between SECP’s eZfile system and the partner banks’ platforms. This digital connection will remove procedural barriers, reduce administrative delays, and allow new companies to begin operations without unnecessary wait times.
The MoU was signed by Mr. Muzzafar Ahmed Mirza, Commissioner SECP; Mr. Haaris Mahmood Chaudhary, President Mobilink Bank; Mr. Jahanzeb Khan, CEO Easypaisa Bank; and Mr. Umair Aijaz, CEO Raqami Islamic Digital Bank.
The signing event was attended by Mr. Akif Saeed, Chairperson of SECP; Mr. Zeeshan Rehman Khattak, Commissioner of SECP; and senior representatives from all organizations.
Speaking at the ceremony, Mr. Akif Saeed, Chairperson of SECP, emphasized the importance of continued collaboration with digital banks to explore opportunities for them to operate as distributors of SECP-regulated financial products. He reiterated the SECP’s unwavering commitment to ease of doing business, financial inclusion, and corporate digitization, which empowers entrepreneurs to operate transparently and gain immediate access to formal financial channels.
This initiative marks another step in SECP’s broader mission to build a digitally connected and startup-friendly business ecosystem. By enhancing transparency and reducing bureaucratic friction, the regulator aims to boost investor confidence and promote entrepreneurship across Pakistan.
