Pakistan’s startup ecosystem received a significant boost as the Securities and Exchange Commission of Pakistan (SECP) introduced instant corporate bank account activation, enabling newly registered companies to commence operations on the same day through revolutionary digital integration.
The groundbreaking initiative eliminates traditional bureaucratic delays that previously hindered entrepreneurs from accessing essential banking services. Through strategic partnerships with digital financial institutions, SECP has transformed the company incorporation process into a seamless experience.
Strategic Banking Partnerships Drive Innovation
SECP formalized memorandums of understanding with three progressive financial institutions: Mobilink Microfinance Bank, Easypaisa Bank, and Raqmi Islamic Digital Bank. These partnerships establish the technological foundation for instantaneous account activation following business registration.
The collaboration builds upon SECP’s recent implementation of standardized board resolution formats, creating uniformity in corporate account opening procedures nationwide. This standardization ensures consistent compliance requirements while simplifying administrative processes for entrepreneurs.
Advanced API Integration Powers Seamless Access
The technical framework connects SECP’s eZfile registration system directly to partner banks through secure Application Programming Interface (API) technology. This digital linkage enables automatic data transfer, allowing companies to access banking services immediately upon incorporation without manual paperwork or extended waiting periods.
SECP Commissioner Muzaffar Ahmed Mirza joined banking executives including Mobilink Bank President Harith Mahmood Chaudhry, Easypaisa CEO Jahanzaib Khan, and Raqmi Islamic Digital Bank CEO Umair Ayaz to formalize these transformative agreements.
Advancing Pakistan’s Digital Economy
SECP Chairperson Akif Saeed emphasized the commission’s commitment to digitization and enhancing business facilitation. He highlighted plans for continued collaboration with digital banks to expand access to regulated financial products, promoting transparency and efficiency.
The initiative represents a crucial component of Pakistan’s financial inclusion strategy, designed to foster entrepreneurship, strengthen economic documentation, and encourage formal business activity. By removing administrative bottlenecks, SECP enables entrepreneurs to focus resources on business development rather than regulatory compliance.
This digital transformation positions Pakistan competitively within South Asia’s rapidly evolving startup landscape, demonstrating government commitment to supporting innovation-driven economic growth.
