The Securities and Exchange Commission of Pakistan (SECP) has issued a circular under the Companies Act, 2017 prescribing a standard format of board resolution for companies opening corporate bank accounts, including the use of QR codes to support digital verification. The standardisation follows consultations with the Pakistan Banks’ Association and other stakeholders and is intended to reduce inconsistent documentation, compliance queries and onboarding delays, particularly for start-ups and companies with foreign directors. The prescribed resolution is to be submitted electronically, digitally signed and authenticated by an authorised officer, with QR codes encouraged to enable instant verification of key details such as the company name, resolution date, directors present and authorised signatories; financial institutions are encouraged to accept the format subject to their internal due diligence. The template is available on SECP’s website and is presented as part of its “From paper to Platform” registrar conference initiative.

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