The resident and nonresident investors now will be able to build an online connectivity to the capital market for their stock investment under the Digital Transformation Agenda of the Securities and Exchange Commission of Pakistan SECP. The SECP introduces a procedure to create an online account for stock investments with a broker. This facility will be helpful in avoiding any hardship to submit the documents with a physical presence of the investor.
backdrop of the digital onboarding process
SECP gives the proper procedure to create an online account to invest in stocks. According to commission’s updated digital framework, an investor has to follow these steps to open online accounts with SECP.
- 1. Visit the official website of the brokerage account.
- 2. Select online account opening option
- 3. A page will open asking customer to enter CNIC/NICOP/POC number, EMail Address and Phone Number.
- 4. Information will be sent to NCCPL for verification and One Time Password (OTP) will be generated.
- 5. OTP will be sent to customer’s Mobile No or Email. The customer will enter the OTP and account opening form will appear to be filled.
- 6. After filling the form, customer will agree terms and conditions and will attach the scanned copies of supporting documents and submit.
- 7. The registration of the UIN of the customer with NCCPL will be taken by the broker and open the trading account.
- 8. NCCPL will inform about the account opening via SMS or Email to the customer.
- 9. The customer will send an acknowledgment to the NCCPL.
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