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The Securities and Exchange Commission of Pakistan (SECP) has launched a new initiative to simplify and expedite the procedure of opening corporate bank accounts for startups and newly registered companies.<\/strong><\/p>\n The move is part of the SECP\u2019s ongoing \u201cPaper to Platform\u201d vision, which aims to promote digital transformation and improve ease of doing business.<\/p>\n To implement the initiative, the SECP has inked a Memorandum of Understanding (MoU) with various banks.<\/p>\n The signing ceremony was attended by SECP Chairperson, Akif Saeed, Commissioner, Zeeshan Rehman Khattak, and senior representatives of the partner institutions.<\/p>\n Speaking at the ceremony, Akif Saeed, underlined the importance of collaboration with digital banks to explore opportunities for them to operate as distributors of SECP-regulated financial products.<\/p>\n He reaffirmed the SECP\u2019s commitment to supporting entrepreneurship, financial inclusion, and corporate digitisation.<\/p>\n The partnership builds on recent introduction of a Standard Format for Board Resolutions, aimed at ensuring transparency and consistency in corporate banking procedures nationwide.<\/p>\n Under the new arrangement, startups will be able to open corporate bank accounts on the same day through a secure, API-based integration between SECP\u2019s eZfile system and partner banks\u2019 platforms.<\/p>\n The system aims to eliminate procedural hurdles, cut administrative delays, and help new companies begin operations more swiftly.<\/p>\n By enhancing transparency and reducing bureaucratic friction, the regulator aims to boost investor confidence and promote entrepreneurship across Pakistan.<\/p>\n<\/div>\n