The proposed changes will allow investors to be onboarded entirely through digital channels, marking a significant shift from traditional methods that relied heavily on paper documentation. The SECP's draft amendments include accepting the International Bank Account Number (IBAN) as valid proof of identity for the first time, provided it is verified by regulated entities or third parties like the National Clearing Company of Pakistan (NCCPL) through the RAAST payment system.
BUSINESSPublished 24 Apr 2026 • Published 1 day ago
SECP Introduces Digital Investor Onboarding and IBAN Verification in Pakistan
100% NEUTRAL
The Securities and Exchange Commission of Pakistan (SECP) has proposed significant amendments to the AML/CFT/CPF Regulations, 2020, aimed at enhancing anti-money laundering measures through digital onboarding and IBAN verification. This overhaul includes the introduction of multi-biometric authentication and the elimination of the need for attested documents, which could streamline the investor onboarding process.
Detailed Analysis
SOURCES
6 outlets · 6 articles
PPprofit.pakistantoday.com.pk
PRpropakistani.pk