The Securities and Exchange Commission of Pakistan (SECP) has signed a Memorandum of Understanding with Mobilink Microfinance Bank Limited (Mobilink Bank) to simplify and speed up the opening of corporate bank accounts for companies registered with SECP, using SECP-provided data and verification channels. The collaboration is structured in two phases. In phase one, Mobilink Bank will obtain lists of SECP-registered companies on a mutually agreed periodic basis after paying the prescribed fee, and will use SECP’s Financial Institutions Portal to conduct company-related verifications for account opening. Mobilink Bank will also verify the existence of companies’ registered office addresses and share status updates with SECP to support oversight and improve the accuracy of corporate records. In phase two, SECP and Mobilink Bank plan to establish secure application programming interface integration to enable real-time exchange of company information and further accelerate the corporate account opening process.
Securites & Exchange Commission of Pakistan 2025-09-05
Securities and Exchange Commission of Pakistan signs MoU with Mobilink Bank to streamline corporate bank account opening for SECP-registered companies
The Securities and Exchange Commission of Pakistan (SECP) has signed a Memorandum of Understanding with Mobilink Microfinance Bank Limited to streamline corporate bank account openings for SECP-registered companies. The initiative will initially involve periodic data sharing and verification through SECP’s Financial Institutions Portal, followed by secure API integration for real-time information exchange.