ISLAMABAD, May 22: The Securities and Exchange Commission of Pakistan (SECP) has signed an agreement with the MCB Bank for payment collection services.

Under the agreement, 500 branches of the bank would accept payments to be made by the public and corporate entities to the SECP.

SECP Commissioner Rashid I. Malik and MCB Bank’s Senior Executive Vice President Muhtashim Ashai signed the agreement here at a ceremony on Thursday.

The general public and corporate entities would no longer have to obtain bank payment challan forms from the bank or other sources. These would be available on SECP website: www.secp.gov.pk

Payment against these forms can be deposited in any of the 500 MCB Bank branches. The SECP would shortly introduce more banks which will be providing this service.

This agreement is part of SECP’s initiatives to facilitate its stakeholders. It is also an important component of the e-services project, to be launched shortly.