New guardian-linked facility enables minors to participate in Pakistan’s capital market with dedicated KYC and account maturity controls.
KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) has launched a Minor Trading Account facility, allowing individuals below 18 years of age to participate in Pakistan’s capital market under a structured, guardian-linked framework.
The initiative follows NCCPL’s earlier circular, reference NCCPL/CM/JULY-26/13, issued on July 27, 2026.
According to NCCPL, the new account facility is designed to facilitate minors’ participation in the capital market while ensuring appropriate know-your-customer (KYC) onboarding, guardian linkage, monitoring and account maturity controls.
Minor KYC onboarding
Under the new framework, KYC onboarding will be conducted in the minor’s name using a valid B-Form, Child Registration Certificate (CRC) or Juvenile Card.
The minor’s information will be captured and verified in accordance with applicable KYC requirements. The minor’s KYC record will also be linked to the guardian’s Unique Identification Number (UIN).
If the guardian does not have an active Unique KYC Number (UKN), the guardian’s KYC registration and UKN issuance must be completed before the minor’s UKN application can be initiated.
Independent UKN for minors
NCCPL said every minor will receive an independent UKN for identification and record maintenance.
The minor’s UKN will be tagged or linked with the guardian’s UIN. Only a guardian with an active UKN will be eligible to initiate a Minor UKN application.
Account transition at age 18
The system will automatically generate a notification one month before the minor reaches the age of 18. The notification will advise the relevant authorised intermediary to begin the process for opening a Normal or Regular Account.
Once the minor turns 18, the individual will no longer qualify under the Minor Account framework.
If the required transition to a Normal or Sahulat Account has not been completed, the account will be blocked in accordance with the applicable procedures. It will remain blocked until the necessary transition formalities are completed.
NCCPL highlights benefits of new facility
NCCPL said the Minor Trading Account provides a dedicated KYC process, independent identification, guardian linkage and automated monitoring.
The system-generated notification is intended to give authorised intermediaries and guardians sufficient time to complete the transition before the account reaches maturity.
The company said automated blocking at the age of 18 would strengthen compliance controls, while system-based monitoring would reduce manual follow-up and improve operational efficiency.
NCCPL also said the initiative would provide investors and guardians with a more structured and transparent process for onboarding minors and subsequently transitioning their accounts.
The clearing company said the developments are fully compliant with the Securities and Exchange Commission of Pakistan’s (SECP) revised regulatory framework.
NCCPL has also scheduled an awareness session on the new facility and requested clearing members to ensure participation of their relevant operational and compliance teams.