Newly incorporated companies in Pakistan will now be able to open corporate bank accounts more quickly after the Securities and Exchange Commission of Pakistan (SECP) completed a direct digital integration with Askari Bank Limited.
Askari Bank has become the first commercial bank to connect its systems directly with the SECP’s corporate registry under the new initiative.
The digital integration uses an API that enables Askari Bank to securely access verified company information directly from the SECP. The system is expected to reduce manual verification, repeated document submissions, and the overall time required to open corporate bank accounts.
The initiative will allow newly registered companies to begin their operations sooner by providing faster access to banking services. This could help businesses reduce administrative delays during the early stages of incorporation.
The agreement was signed by SECP Commissioner Muzaffar Mirza and Askari Bank Group Head Retail Banking Shaikh Rashid Rauf.
SECP Chairman Dr. Kabir Ahmed Sidhu said the integration is part of the commission’s broader digitalization efforts and B-READY reforms. He said the initiative aims to simplify business processes, improve access to reliable corporate information, and make it easier for businesses to start and operate in Pakistan.
The SECP also plans to establish similar digital integrations with other banks and financial institutions. Such connections are expected to further streamline corporate services and reduce paperwork for newly incorporated businesses.
The latest development marks another step toward digitalizing Pakistan’s business registration and financial processes, while making it easier for new companies to access essential banking services.
