Islamabad: A significant step was taken towards bolstering cybersecurity and enhancing the efficiency of digital infrastructures in Pakistan as the National Database and Registration Authority (NADRA) and the Securities and Exchange Commission of Pakistan (SECP) signed a Memorandum of Understanding (MoU) on September 18, 2024. The agreement aims to establish a solid foundation for cooperation and information sharing between the two bodies.

According to Securities and Exchange Commission of Pakistan, the MoU signing ceremony took place at the SECP head office in Islamabad. Prominent attendees included Chairman NADRA, Lt. Gen Muhammad Munir Afsar; Chairman SECP, Mr. Akif Saeed; Commissioner SECP, Mr. Mujtaba Ahmed Lodhi; Chief Project Officer, NADRA, Mr. Rehman Qamar; along with senior officers from both organizations.

The MoU is designed to create a framework for bilateral cooperation in various areas of mutual interest. These include the provision of Identity Verification Services to SECP Regulated Entities, exchange of information, and contributions to policy and regulatory inputs on common interest areas such as business processes efficiency, cybersecurity, data management, and capacity building.

During the ceremony, Lt. Gen Munir Afsar emphasized the importance of collaborations across various sectors, noting how these partnerships strengthen the security and efficiency of national digital infrastructures. He also stressed the importance of protecting citizens’ data from unauthorized access and exploitation.

Mr. Akif Saeed praised NADRA for its efforts in creating a secure digital ecosystem and acknowledged its support to the SECP and its regulated entities. He emphasized the importance of collective efforts by all regulatory bodies in enhancing cybersecurity measures and securing individuals’ data.

Commissioner SECP, Mr. Mujtaba Ahmed Lodhi, expressed gratitude towards NADRA for its commitment to spreading awareness about data security and extending its services to help protect SECP regulated entities.

In conclusion, both NADRA and SECP reaffirmed their commitment to engage regularly and coordinate on matters of mutual interest, marking a notable advancement in their collaborative efforts to secure and optimize Pakistan’s digital landscape.