SECP and Digital Banks Partner to Offer Same-Day Corporate Account Opening for Startups

The Securities and Exchange Commission of Pakistan (SECP) has taken a major step toward facilitating startups and newly formed companies by simplifying and expediting the process of opening corporate bank accounts. This initiative
reemphasizes the SECP’s commitment to its “Paper to Platform” vision.

The SECP has signed a Memorandum of Understanding (MoU) with Mobilink Microfinance Bank Limited, Easypaisa Bank Limited, and Raqami Islamic Digital Bank Limited.

This collaboration builds on a recent SECP initiative that introduced a Standard Format for Board Resolutions to open corporate bank accounts. This standard aims to promote uniformity, transparency, and seamless banking integration for registered companies across Pakistan.

Through this partnership, same-day corporate account opening will be enabled via a secure, API-based integration between the SECP’s eZfile system and the partner banking platforms. This digital linkage will allow newly incorporated companies to commence operations immediately by eliminating procedural delays and reducing administrative hurdles.

The MoU was signed by Mr. Muzzafar Ahmed Mirza, Commissioner (SECP); Mr. Haaris Mahmood Chaudhary, President (Mobilink Bank); Mr. Jahanzeb Khan, CEO (Easypaisa Bank); and Mr. Umair Aijaz, CEO (Raqami Islamic Digital Bank). The signing ceremony was attended by Mr. Zeeshan Rehman Khattak, Commissioner (SECP); Mr. Akif Saeed, Chairperson SECP; and senior officials from all organizations.

Speaking at the occasion, Mr. Akif Saeed, Chairperson SECP, emphasized the importance of continued collaboration with digital banks to explore opportunities for them to operate as distributors of SECP-regulated financial products. He reiterated the SECP’s unwavering commitment to ease of doing business, financial inclusion, and corporate digitization, which empowers entrepreneurs to operate transparently and gain immediate access to formal financial channels.

This initiative marks another significant milestone in the SECP’s efforts to create a digitally connected, startup-friendly business ecosystem, enhancing investor confidence and fostering entrepreneurship across Pakistan.