July 02, 2024 (MLN): Considering the significant number of investors who have not yet registered in the KYC regime, the National Clearing Company of Pakistan Limited (NCCPL) has further extended the timeline for registering existing customers in the KYC Database till August 31, 2024.
Because of the above, NCCPL has advised all AIs to complete the KYC process of their customers within above stipulated timeline.
In case of failure to complete the process, the company shall proceed to take necessary action under applicable CKO regulations.
NCCPL has also initiated the validation of Customer Credentials.
The above verification result will be shared with the respective AI for their information and registration in the KYC Information System (KIS).
"It is reiterated that the CKO has introduced multiple options for customer registration under CKO regime in the recent past that can be used conveniently to register the existing customers in the KYC Database, therefore, diligent efforts should be made to complete the process within the above-prescribed timeline," NCCPL added.
