ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced the concept of Digital Asset Management Companies (DAMCs) to promote financial inclusion and simplify investment procedures.
A concept paper in this regard has been published on the SECP website for public consultation.
DAMCs have the potential to increase the investor base by reducing paperwork, providing services remotely, and leveraging customer data.
In Pakistan, there are currently 21 AMCs with a total of Rs1.2 trillion assets under management.
The mutual fund industry in Pakistan has only approximately 320,000 investors (0.14 per cent of the total population) which means this segment of capital markets is under-penetrated in comparison to other international jurisdictions.
Published in Dawn, August 2nd, 2022