Newly incorporated companies will be able to open corporate bank accounts faster after the Securities and Exchange Commission of Pakistan (SECP) and Askari Bank Limited completed a direct digital integration.
Askari Bank is the first commercial bank to connect its system with the SECP’s corporate registry under the initiative.
The API integration allows Askari Bank to securely access verified company information directly from the SECP. This will reduce manual checks, repeated document submissions and the time needed to open a corporate account.
The system is expected to help newly registered companies start their operations sooner by allowing them to open bank accounts and begin business activities more quickly.
The agreement was signed by SECP Commissioner Muzaffar Mirza and Askari Bank Group Head Retail Banking Shaikh Rashid Rauf.
SECP Chairman Dr. Kabir Ahmed Sidhu said the integration is part of the commission’s digitalization and B-READY reforms. The aim is to simplify business processes, improve access to reliable corporate information and make it easier to start and operate businesses in Pakistan.
SECP said it plans to introduce similar digital integrations with other banks and financial institutions.
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