October 03, 2023 (MLN): The National Clearing Company of Pakistan Limited (NCCPL) has further extended the date for registering existing customers in the KYC database till December 31, 2023, a notice issued by NCCPL on Monday showed.
The entity made this decision due to the significant number of investors not yet registered in the KYC regime.
“In view of the above, all AIs are hereby advised to complete the KYC process of their customers within the above-stipulated timeline,” the notice reads.
This is in continuation to the NCCPL's circular issued earlier in June 2023, wherein the timeline for registration of existing customers (registered prior to June 17, 2019) under the CKO regime was extended till September 30, 2023.
In case of failure to complete the process, the company shall proceed to take necessary action in accordance with applicable CKO regulations.
It is reiterated that the CKO has introduced multiple options for customer registration under the CKO regime in the recent past that can be used conveniently to register existing customers in the KYC Database, therefore, diligent efforts should be made to complete the process within the above prescribed timeline.
