Islamabad
\nThe Securities and Exchange Commission of Pakistan (SECP), as part of its ongoing efforts to enhance financial inclusion and ease of doing business, has now authorized Asset Management Companies (AMCs) to open Sehl Sarmayakari Accounts (Sehl Accounts) directly for resident Pakistani individual customers.
\nThese low-risk accounts can be opened through the AMCs\u2019 own digital platforms and\/or physical forms under a simplified due diligence regime. Previously, the said accounts were only opened through Branchless Banking (BB) agents, Electronic Money Institutions (EMIs), or scheduled banks.
\nUnder this enhanced facilitation, AMCs will collect the necessary customer information, perform the required verifications, and ensure compliance with the prescribed investment and transaction limits for Sehl Accounts.
\nUpon completing additional information and documentation requirements, a Sehl Account may subsequently be upgraded to a Sahulat Sarmayakari or Sarmayakari Account, allowing for investments beyond the prescribed limits for Sehl Account.
\nThis measure will enable AMCs to onboard low-risk customers using simplified Know Your Customer (KYC) measures, thereby promoting micro-savings and broadening financial inclusion in the country. The Sehl Account is designed to attract low-income segments by offering a simplified and time-efficient onboarding process, while enabling these customers to invest their savings in various low-risk Collective Investment Schemes (mutual funds).
\nThe SECP remains committed to facilitating capital market development and growth through progressive regulatory reforms, enhanced investor access, and strengthened financial inclusion, all while ensuring robust investor protection and market integrity.<\/p>\n","protected":false},"excerpt":{"rendered":"
Islamabad The Securities and Exchange Commission of Pakistan (SECP), as part of its ongoing efforts to enhance financial inclusion and ease of doing business, has now authorized Asset Management Companies (AMCs) to open Sehl Sarmayakari Accounts (Sehl Accounts) directly for resident Pakistani individual customers. These low-risk accounts can be opened through the AMCs\u2019 own digital […]<\/p>\n","protected":false},"author":2,"featured_media":460037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-526971","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\n