ISLAMABAD, Sep 8 (APP):The Securities and Exchange Commission of Pakistan (SECP) and Askari Bank Limited have completed an API integration to enable newly incorporated companies to open corporate bank accounts more quickly and with fewer documentation requirements. Askari Bank is the first commercial bank to integrate its system with SECP’s corporate registry under the initiative. The integration allows the bank to securely access authenticated corporate information directly from SECP, reducing …
SECP, Askari Bank integrate systems for faster corporate account opening
ISLAMABAD, Sep 8 (APP):The Securities and Exchange Commission of Pakistan (SECP) and Askari Bank Limited have completed an API integration to enable newly incorporated companies to open corporate bank accounts more quickly and with fewer documentation requirements.
Askari Bank is the first commercial bank to integrate its system with SECP’s corporate registry under the initiative.
The integration allows the bank to securely access authenticated corporate information directly from SECP, reducing manual verification and the repeated submission of company documents, said a release issued here on Tuesday.
The agreement was signed by SECP Commissioner Muzaffar Mirza and Askari Bank’s Group Head Retail Banking, Shaikh Rashid Rauf.
The ceremony was attended by SECP Chairman Dr. Kabir Ahmed Sidhu, Commissioners Muzaffar Mirza and Zeeshan Khattak, Executive Director Mubashir Saddozai, Registrar of Companies Arsalan Zafar, Askari Bank President and CEO Zia Ijaz, Group Executive Operations Aslam Sadaruddin, and other officials.
The integration will allow Askari Bank to securely obtain authenticated company information directly from SECP, reducing manual verification, repeated submission of documents and customer onboarding time. It will enable newly incorporated companies to swiftly operationalize by opening bank accounts and commencing business operations.
“This integration is part of SECP’s ongoing digitalization and B-READY reforms aimed at simplifying business processes, improving access to reliable corporate information and making it easier to establish and operate businesses in Pakistan,” Dr. Kabir Ahmed Sidhu said.
SECP plans to extend similar digital integrations to other banks and financial institutions.
