SECP Fast-Tracks Corporate Account Opening with Askari Bank and NayaPay

The Securities and Exchange Commission of Pakistan (SECP) has signed Memoranda of Understanding (MoUs) with Askari Bank Limited and NayaPay to make it easier and faster for companies to open corporate bank accounts.

Under this arrangement, once a company is registered with SECP, its directors will get an online option to open a bank account in a bank of their choice. There will be no need for lengthy manual processes.

SECP Fast-Tracks Corporate Account Opening with Askari Bank and NayaPay

SECP’s eZfile system will be connected with the systems of partner banks through a secure digital link. This will allow instant verification of company data. As a result, companies will be able to open bank accounts quickly with less documentation and fewer delays.

The MoU signing ceremony was attended by SECP Commissioners Mr. Muzzafar Ahmed Mirza, Mr. Imtiaz Haider, and Mr. Ali Farid, along with senior officials of the participating organizations.

The MoU was signed by Commissioner SECP Mr. Muzzafar Ahmed Mirza, Askari Bank’s Group Head Retail Banking Mr. Shaikh Raashed Rauf, and NayaPay’s CEO Mr. Danish Ahmad Lakhani. The ceremony was attended by SECP Chairperson Dr. Kabir A. Sidhu, President Askari Bank Mr. Zia Ijaz, and senior officials.

This step is part of SECP’s “Paper to Platform” initiative. The aim is to digitize processes and improve ease of doing business. It also builds on SECP’s earlier partnerships with financial institutions.

Speaking at the event, Chairperson SECP Dr. Kabir Ahmed Sidhu said that close coordination between SECP and financial institutions will help provide complete digital onboarding for businesses. He said this will also reduce barriers, improve transparency, and support financial inclusion.

Officials of Askari Bank and NayaPay welcomed the initiative. They said it will not only make account opening easier but also support future cooperation in lending and digital financial services.

See Also: SECP Registers 723 New IT and E-Commerce Firms in February 2026

Earlier, SECP signed similar agreements with Mobilink Microfinance Bank Limited, Easypaisa Bank Limited, Mashreq Bank, and Raqami Islamic Digital Bank Limited.

The initiative will help companies start operations faster after registration. It will also strengthen links between banks and capital markets and support a more efficient and transparent business environment in Pakistan.