Pakistan’s top corporate regulator has teamed up with Mobilink Microfinance Bank Ltd. to digitize and speed up the process of opening corporate bank accounts, a move aimed at boosting transparency, improving oversight, and easing business operations in the country.
The Securities and Exchange Commission of Pakistan (SECP) signed a memorandum of understanding with Mobilink Bank to establish a digital framework allowing secure, real-time sharing of company data for account verification. The collaboration, announced Friday, is part of Pakistan’s wider push to modernize regulation and draw more firms into the documented economy.
The agreement will roll out in two phases: first, Mobilink Bank will access SECP’s registry and verification portals for company checks, followed by the creation of an API-based system for seamless data exchange. Mobilink will also share corporate verification updates with the SECP, strengthening regulatory oversight and corporate governance.
“This partnership reflects our commitment to digital solutions and cutting procedural bottlenecks,” said SECP Chairperson Akif Saeed. Haaris Mahmood Chaudhary, Mobilink Bank’s CEO, said the bank aims to deliver “efficient, customer-centric services that empower SMEs and MSMEs.”
The initiative is expected to expand financial inclusion, streamline compliance, and accelerate Pakistan’s shift toward a digitally enabled, transparent business ecosystem.
