Askari Bank Integrates SECP Registry For Faster Account Opening

Newly registered companies in Pakistan will be able to open corporate bank accounts with fewer documents after Askari Bank Limited integrated its systems with the corporate registry of the Securities and Exchange Commission of Pakistan (SECP).

The SECP said on Tuesday that Askari Bank has become the first commercial bank to complete API integration with the regulator’s corporate registry.

Through the new digital connection, the bank will securely access verified corporate information held by the SECP, reducing the need for newly incorporated businesses to repeatedly provide the same documents during the account-opening process.

The integration is also expected to reduce manual verification and shorten customer onboarding procedures, allowing newly established companies to open bank accounts and start their business activities more quickly.

The agreement was formally signed by SECP Commissioner Muzaffar Mirza and Askari Bank Group Head Retail Banking Shaikh Rashid Rauf.

SECP Chairman Dr Kabir Ahmed Sidhu said the initiative was part of the commission’s wider digitalisation and B-READY reforms, which aim to simplify business procedures, improve access to authentic corporate information and make it easier to establish and operate companies in Pakistan.

The SECP plans to develop similar digital integrations with other banks and financial institutions as part of its broader ease-of-doing-business initiative.

Officials from both organisations attended the signing ceremony, including SECP commissioners Muzaffar Mirza and Zeeshan Khattak, Executive Director Mubashir Saddozai and Registrar of Companies Arsalan Zafar.

Askari Bank President and CEO Zia Ijaz, Group Executive Operations Aslam Sadaruddin and other senior officials were also present at the ceremony.