The Securities and Exchange Commission of Pakistan (SECP) has moved to establish a 24/7 digital investor onboarding system, allowing market intermediaries to automate key steps such as investor identification, UIN issuance and CDC account creation.
The development comes under a new consolidated investor onboarding framework issued through SECP Circular No. 19 of 2026 dated August 25.
The framework requires relevant capital-market infrastructure and regulated intermediaries to establish API-based connectivity to support secure, automated processing and reduce manual intervention.
Under the new setup, the Centralized Know Your Customer Organization (CKO), Central Depository Company of Pakistan Limited (CDC) and National Clearing Company of Pakistan Limited (NCCPL) will facilitate digital connectivity between market intermediaries and central onboarding systems.
The SECP said the system is intended to enable 24/7 onboarding without manual or human intervention.
It will support instant issuance of Unique Identification Numbers (UINs), opening of CDC sub-accounts and integration with clients’ accounts.
The regulator has also moved to eliminate unnecessary duplication in customer verification.
Authorised intermediaries will be able to rely on identity verification conducted by scheduled banks, digital banks, microfinance banks and electronic money institutions regulated by the State Bank of Pakistan, subject to applicable requirements.
Where an IBAN has already been generated or verified by an eligible financial institution, the intermediary, CKO or Asaan Connect will not need to repeat the verification.
Certain mobile-number and email verification checks will also not need to be repeated where they have already been completed through an authorised financial institution.
The framework further establishes the Centralized Gateway Portal (CGP) as a key link between regulated intermediaries and centralised onboarding infrastructure.
Intermediaries will have to connect their online account-opening systems with the CGP and, with customer consent, share and update information and documents relating to individual resident customers.
The CGP and CKO may subsequently provide relevant customer information to other authorised market intermediaries in accordance with approved procedures and customer consent.
The SECP has directed all participating platforms and intermediaries to maintain customer confidentiality and implement appropriate data-security measures.
The new framework also formally supports remote digital onboarding through websites, online portals, mobile applications and other approved digital channels.
The facility covers residents and non-residents, individuals and companies, as well as single and joint accounts.
Despite greater reliance on automated verification, the SECP has retained full AML/CFT responsibilities with regulated intermediaries.
They will remain responsible for customer risk assessment, ongoing monitoring, enhanced due diligence for high-risk customers, sanctions screening and reporting obligations where applicable.
The framework also sets simplified investment limits for certain account categories, including a Rs3 million limit for capital-market Sahulat Accounts.
The SECP has repealed its earlier Circular No. 6 of 2023 and directed specified regulated intermediaries to update their account-opening forms and establish the required digital connectivity within three months.
The regulator said the consolidated framework is aimed at promoting financial inclusion, strengthening investor protection and compliance, and removing confusion created by multiple onboarding and customer due-diligence requirements.
