Karachi, October 16 – The Securities and Exchange Commission of Pakistan (SECP) recently engaged with member companies of the Overseas Investors Chamber of Commerce & Industries (OICCI) in an interactive session to emphasize the importance of digitalization.
During this session, SECP Chairman Akif Saeed underscored the critical role that digitalization plays in the modern business environment. He shared his views during his visit to the Chamber, where he engaged in a dialogue with OICCI member companies.
Chairman Akif updated the audience on SECP’s recent initiatives and expressed the need to embrace technology and focus on digitalization, which, he believes, will not only reduce costs but also streamline processes and save time.
He further elaborated that the Commission is actively working on restructuring its internal and external operations to streamline regulatory procedures. Earlier this year, SECP launched a Centralized Gateway Portal, which aims to facilitate the digital onboarding of investors across various asset classes within regulated sectors. This move is intended to empower end-users and eliminate the need for them to visit physical offices to share their concerns or ideas.
During the session, Akif also addressed queries from OICCI member companies regarding delays in security clearances for foreign directors, a matter of concern for foreign investors. Additionally, he discussed improving the e-services portal, revising the definition of related parties, eliminating duplicate submissions on SECP and Pakistan Stock Exchange (PSX) platforms, and provided updates on the new Companies Act.
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Akif recommended holding regular sessions with OICCI members to foster dialogue and address concerns to further enhance the existing regulatory processes in Pakistan.
The SECP chairman was welcomed by OICCI’s President Amir Paracha, Vice President Rehan Muhammad Shaikh, and Secretary-General M Abdul Aleem. President Amir commended the SECP for its progressive approach, emphasizing its substantial contributions to improving the growth and transparency of Pakistan’s financial markets. He acknowledged that the SECP plays a critical role in ensuring the stability and integrity of the country’s financial systems.
President Amir also highlighted the alignment of SECP’s recent initiatives with OICCI’s goals, such as the Memorandum of Understanding (MoU) with the IT ministry and IGNITE to establish a venture capital fund and promote women’s empowerment. He emphasized that OICCI not only invests but also provides thought leadership in these areas.
