ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and Mobilink Microfinance Bank Limited (Mobilink Bank) have signed a Memorandum of Understanding (MoU) to simplify and accelerate the process of opening corporate bank accounts for companies registered with SECP.
This partnership is aimed at strengthening regulatory compliance, improving transparency, and boosting Pakistan’s overall business climate by removing procedural hurdles for entrepreneurs and established firms alike.
The MoU was formalized by SECP Commissioner Muzzafar Ahmed Mirza and Mobilink Bank President Haaris Mahmood Chaudhary, in the presence of SECP Chairperson Akif Saeed and senior officials from both organizations.
Under the agreement, the initiative will roll out in two stages. In the first stage, Mobilink Bank will gain access to SECP’s company registry data against a prescribed fee and use the Financial Institutions (FI) Portal to verify company details for corporate account openings.
The second stage will focus on digital integration, where a secure API-based system will allow real-time data sharing between SECP and Mobilink Bank, enabling faster verification and account processing.
Mobilink Bank will also verify company addresses and share compliance updates with SECP, strengthening oversight and helping maintain accurate corporate records.
Speaking at the ceremony, SECP Chairperson Akif Saeed emphasized that the initiative is part of SECP’s broader efforts to digitize regulatory processes: “This collaboration with Mobilink Bank reflects our mission to ease regulatory procedures, enhance transparency, and support a business-friendly environment.”
Mobilink Bank President & CEO Haaris Mahmood Chaudhary highlighted the bank’s role in enabling digital transformation: “Our partnership with SECP will simplify banking for companies, particularly MSMEs and SMEs, and contribute to Pakistan’s shift toward a documented and digitally inclusive economy.”
Chief Business Officer Atta ur Rehman added that the move will open doors for greater financial inclusion and empower businesses to integrate into Pakistan’s formal economy.
This collaboration is expected to not only speed up corporate account openings but also strengthen governance, transparency, and digital innovation in the financial and corporate ecosystem of Pakistan.
