SECP Drives Digital Finance Revolution

Islamabad, September 6, 2025, 09:35 PM PKT — SECP Chairperson Akif Saeed has unveiled a bold digitalization drive, vowing to revolutionize access to finance, boost financial inclusion, and enhance service delivery efficiency, as declared during a meeting on Friday, September 5, 2025, with Zia Ijaz, President of Askari Bank Limited, and senior bank officials, per a press release. Saeed reaffirmed SECP’s commitment to a vibrant Sukuk market to strengthen Pakistan’s Islamic capital market, spotlighting initiatives like digital corporate bank account opening, digital distribution of mutual funds, pension funds, and insurance, auto-induction of private shares into the central depository system, and expanded bank roles in equity and debt trading.

He praised Askari Bank’s leadership in promoting Shariah-compliant Sukuk as an alternative to conventional debt, diversifying corporate funding and offering high-quality investments to institutional and retail investors. Saeed proposed dedicated sessions with banks to expand digital financial services, enhancing the financial ecosystem, while unveiling plans for retail digital Sukuk via telecom partnerships and end-to-end digital processes, plus micro-Sukuk to boost inclusion for small savers and underserved communities. Web context on financial reforms shows past delays, while posts found on X reflect optimism mixed with caution—some cheer innovation, others question execution. Critically, the narrative of “digital transformation” may mask implementation risks—web data hints at infrastructure gaps, and X sentiment suggests distrust in widespread success, pointing to potential hurdles.