KARACHI: A mobile application designed to simplify investor onboarding into Pakistan’s stock market will be launched in July, according to a statement circulated by the country’s top securities regulator on Wednesday, as authorities seek to expand participation in capital markets through digital platforms.
The update came after Chairman of the Securities and Exchange Commission of Pakistan (SECP) Dr. Kabir Ahmed Sidhu met the board and senior management of the Central Depository Company (CDC) of Pakistan, which provides clearing, settlement and depository services to the country’s capital market.
“The board updated the SECP chairman on the ‘Asaan Connect Mobile App,’ which was designed on his instructions to facilitate digital onboarding into the stock market,” the statement said.
“The meeting was informed that the mobile application, developed to provide the younger generation with a modern and user-friendly digital platform for stock market investment, would be introduced in July,” it added.
The SECP chairman said digital technology would bring stock market and investment services directly to investors through their mobile phones, making the investment process simpler while strengthening investor protection and confidence in the market.
“Through the effective use of financial technology, we will make investment in the capital market easy, secure and accessible to every Pakistani so that ordinary citizens can participate in the country’s economic growth and wealth creation,” he added.
Sidhu said a target of increasing the number of investors in Pakistan’s capital market to 2.5 million was achievable and that the SECP was taking all possible measures to support that objective.
The meeting also reviewed the CDC’s operational performance, technology infrastructure, cybersecurity framework and digital transformation initiatives, as well as future plans aimed at strengthening Pakistan’s capital market infrastructure.
