The smart way of investment has begun in Pakistan as the Security and Exchange Commission of Pakistan (SECP) has introduced the facility of opening online accounts for the investors of Mutual Fund.
This is part of the agenda of the security and exchange commission of Pakistan for digitalization. Now the investors will be able to open the account online with the broker from anywhere in the country without requiring to submit any documents physically or visit a broker. This trouble freestyle of investment will greatly facilitate the investors.
For keeping the investors’ protection, an alternate Customer Verification process has been introduced. This online verification will be conducted independently by the centralized KYC Organization. The account opening process has been made simple by reducing the number of pages to be signed by the investors.
As mentioned above, the mutual fund investors facility is the continuation of the SECP reform agenda for enhancing investor outreach, introducing digitalization, and ensure the strong growth of the capital market.
A good number of investors is of vital importance for the development of any capital market and this very objective is part of the agenda of the security exchange commission of Pakistan.
This is expected that it could be the era to revolutionize the capital market of Pakistan which will surely contribute significantly towards the economic growth of the country by channelizing investments and savings through the market.
In a press release issued by the Pakistan Stock Brokers Association (PSBA), gratitude has been shown to the SEPC in the words, “This was PSBA”s outstanding demand to enable all the resident and non-resident investors to open an online account in the Capital Market of Pakistan.”
PSBA added, ‘The new regime is a part of SECP’s agenda that will allow investors to open an account with a broker from anywhere without requiring them to submit any documents physically. This will certainly increase the size of the investment base which is very crucial for the development of the market.”