SECP and 1Link sign agreement for ease of doing business

ISLAMABAD, May 10: As part of doing business reforms agenda, the Securities and Exchange Commission of Pakistan (SECP) and 1Link (Guarantee) Limited (1Link) signed an agreement on Thursday to develop a facility to enable the users of SECP’s eSevices to pay fees using internet banking or ATMs. Mr. Tahir Mahmood, Commissioner, SECP, and Mr. Najeeb Agrawalla, CEO, 1Link, signed the agreement at the SECP’s head office. The banks will add the SECP as a biller in the billers module and develop necessary interface with 1 Link. Once the system gets operational, the users of eServices will be able to pay the SECP’s fees through internet banking and ATMs.

The SECP has instituted a host of reform measures, which have resulted in a robust corporate growth in the country, leading to formalization of the business sector and documentation of economy, Mr. Mahmood said.  The proposed online payment mechanism will facilitate the private sector as well as the SECP in company registration process and post-incorporation filing required under the law. It will also lead to further reduction in the number of procedures and time required to start a company.

Mr. Agrawalla mentioned that 1Link is pleased to collaborate with the SECP to provide conducive environment for doing business in Pakistan. This facility will not only enable them to deepen their product portfolio, but will also contribute to the enhancement of the digital financial landscape of the country.