IslamabadThe Securities and Stock Exchange Committee in Pakistan (SECP) granted a license to Tamkeen Securities (PVT), which is the first digital digital broker in Pakistan, and represents a great milestone.
According to the details, granting the license represents a big leap towards the update of capital markets in Pakistan, enhancing access to, and giving democratic character to investment opportunities for retail and institutional investors at the country level.
The newly licensed digital brokerage House will allow investors to open accounts and implement deals, which completely eliminates the need for material visits, papers or traditional mediation channels. This initiative is compatible with the SECP strategic vision to accelerate digital transformation, enhance financial inclusion, and strengthen capital markets in Pakistan through innovation.
With this development, Pakistan joins the ranks of the global markets that have successfully implemented digital trading platforms, meet the advanced investor needs of technology and promote retail sharing in the stock market. It is expected that the entire digital transactions on the plane will attract a wide range of investors, which enhances greater participation in the stock market, enhances liquidity, and enhances investor confidence.
Before that, under the digital framework, the asset management company and the life insurance company were licensed while the application for digital insurance is only other than life. The digital medium regardless of the low cost structure has a broader awareness and ability to exist of compliance mechanisms.
