ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has released its annual report for the previous fiscal year, highlighting reforms introduced in the capital market and the corporate sector to improve efficiency, transparency, depth and ease for investors.
During the 2021-22 year, the SECP said it automated the process for submitting initial public offering (IPO) applications by the issuers, as the opening of new accounts by small investors had been simplified through a new category of Sehl Sarmayakari (easy investment) Account, allowing investors to come on board through microfinance banks backed by telecom providers.
Among the new initiatives and achievement of frameworks that the commission had been planning for some time is “digital mortgage certificates and statutory returns”. The SECP has started issuing digital mortgage certificates and acknowledgement of annual and other returns, which is equivalent to physical certificates for all legal purposes, the report said.
Moreover, automating the public subscription process resulted in the addition of 5,835 new retail investors, the report said.
Published in Dawn, November 20th, 2022