ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and Askari Bank Limited have successfully integrated their systems to expedite the process of opening corporate bank accounts. This collaboration is designed to simplify the procedure for newly incorporated companies, allowing them to operate more swiftly and with reduced documentation requirements.

According to Securities and Exchange Commission of Pakistan, Askari Bank is pioneering this initiative as the first commercial bank to link its system with SECP’s corporate registry. The integration enables Askari Bank to access authenticated corporate information directly from SECP, minimizing the need for manual verification and the repeated submission of company documents. The agreement for this initiative was formalized by SECP Commissioner Muzaffar Mirza and Askari Bank’s Group Head Retail Banking, Shaikh Rashid Rauf.

The signing ceremony was attended by SECP Chairman Dr. Kabir Ahmed Sidhu, Commissioners Muzaffar Mirza and Zeeshan Khattak, Executive Director Mubashir Saddozai, Registrar of Companies Arsalan Zafar, Askari Bank President and CEO Zia Ijaz, Group Executive Operations Aslam Sadaruddin, and other officials. This development is expected to reduce the time for customer onboarding and facilitate the rapid operationalization of newly incorporated companies.

Dr. Kabir Ahmed Sidhu mentioned that this integration is part of SECP’s ongoing digitalization and B-READY reforms. These efforts aim to simplify business processes, improve access to reliable corporate information, and make it easier to establish and operate businesses in Pakistan. SECP also plans to extend similar digital integrations to other banks and financial institutions.