Securities and Exchange Commission of Pakistan authorises asset management companies to open Sehl Sarmayakari Accounts directly via their own platforms

The Securities and Exchange Commission of Pakistan has authorised Asset Management Companies (AMCs) to open Sehl Sarmayakari Accounts (Sehl Accounts) directly for resident Pakistani individual customers through the AMCs’ own digital platforms and or physical forms under a simplified due diligence regime. Previously, these accounts could only be opened through branchless banking agents, electronic money institutions, or scheduled banks. Under the new arrangement, AMCs will collect required customer information, carry out prescribed verifications, and ensure compliance with Sehl Account investment and transaction limits. Accounts can later be upgraded to a Sahulat Sarmayakari or Sarmayakari Account once additional information and documentation requirements are met, allowing customers to invest beyond Sehl Account limits, including in low-risk collective investment schemes such as mutual funds.