SECP, digital banks partner for instant account opening

November 06, 2025 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has taken a major step to enable same-day corporate account opening for startups and newly incorporated companies, simplifying and accelerating the banking process in line with its “Paper to Platform” digital transformation vision.

Under this initiative, the SECP has signed a Memorandum of Understanding (MoU) with Mobilink Microfinance Bank Limited, Easypaisa Bank Limited, and Raqami Islamic Digital Bank Limited.

The collaboration introduces a secure, API-based integration between the SECP’s eZfile system and partner banking platforms, allowing newly registered companies to commence operations without procedural delays or administrative hurdles.

This development builds on the SECP’s recent introduction of a Standard Format for Board Resolutions for opening corporate bank accounts, aimed at promoting uniformity, transparency and seamless banking integration for registered businesses across Pakistan.

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 ceremony was attended by SECP Chairperson Mr. Akif Saeed, Commissioner Mr. Zeeshan Rehman Khattak, and senior officials from all organizations.

Speaking at the ceremony, Mr. Akif Saeed highlighted the SECP’s continued collaboration with digital banks to explore their role as distributors of SECP-regulated financial products.

He reaffirmed the Commission’s commitment to ease of doing business, financial inclusion, and corporate digitization empowering entrepreneurs to access formal financial channels and operate transparently.

This initiative marks a significant milestone in SECP’s efforts to create a digitally connected, startup-friendly ecosystem, fostering entrepreneurship and enhancing investor confidence across Pakistan.

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