Report by Engineering Post
As Pakistan was making steady progress towards digitalization and promotion of the Information Technology (IT) sector, it was good to note that digital companies were also being established in the private sector.
According to the information available, the Securities and Exchange Commission of Pakistan (SECP) has granted license to Tamkeen Securities (Pvt) Limited as Pakistan’s first fully digital online only securities broker, thus also marking a significant milestone.
The award of license by the Securities and Exchange Commission of Pakistan as such has marked a significant leap forward toward modernizing Pakistan’s capital markets, enhancing and democratizing investment opportunities for retail as well as institutional investors nationwide.
The newly licensed digital brokerage house will allow the investors to open their accounts and execute trades thereby completely eliminating the need for undertaking physical visits for purposes of opening of the accounts as well as otherwise required paperwork or use of the traditional brokerage channels.
This initiative was in alignment with Securities and Exchange Commission of Pakistan’s strategic vision for acceleration of digital transformation, promoting financial inclusion, and also in the process strengthening Pakistan’s capital market through innovation.
