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Pakistan’s Securities and Exchange Commission has introduced same-day corporate bank account activation for startups and newly incorporated companies through digital integration with three partner financial institutions, eliminating administrative delays that previously hindered business operations.
The regulatory authority finalized memorandums of understanding with Mobilink Microfinance Bank, Easypaisa Bank, and Raqmi Islamic Digital Bank to implement the streamlined system. This initiative follows SECP’s recent introduction of standardized board resolution formats designed to create uniformity in corporate account procedures nationwide.
Digital Integration Framework
The commission’s eZfile registration platform will connect directly with partner banking systems through secure API-based infrastructure. This technological linkage enables companies to access banking services immediately following incorporation, removing procedural bottlenecks that traditionally delayed business commencement.
SECP Commissioner Muzaffar Ahmed Mirza formalized agreements alongside Mobilink Bank President Harith Mahmood Chaudhry, Easypaisa Bank CEO Jahanzaib Khan, and Raqmi Islamic Digital Bank CEO Umair Ayaz. SECP Chairperson Akif Saeed, Commissioner Zeeshan Rahman Khattak, and senior banking officials attended the signing ceremony.
Advancing Financial Accessibility
Chairperson Akif Saeed emphasized the commission’s comprehensive digitization strategy focused on enhancing Pakistan’s business environment. He announced plans for continued collaboration with digital banking institutions to broaden access to SECP-regulated financial products and services.
“This initiative represents our commitment to financial inclusion and corporate digitization,” Saeed explained. “We aim to foster entrepreneurship, strengthen economic documentation, and promote formal business activity across Pakistan.”
Impact on Entrepreneurial Ecosystem
The integration addresses longstanding challenges faced by Pakistani entrepreneurs who experienced significant delays between company registration and operational capability. Previously, obtaining corporate banking facilities required multiple physical visits, document submissions, and verification processes spanning several weeks.
Under the modernized framework, newly registered businesses can transparently and efficiently access essential banking services, including payment processing, fund management, and transaction capabilities. This development particularly benefits technology startups and small enterprises requiring immediate operational capacity.
The digitalization effort aligns with Pakistan’s broader financial sector modernization goals and supports government initiatives promoting ease of doing business rankings improvement.
