ISLAMABAD: Governor State Bank of Pakistan Dr Reza Baqir said that Pakistani bank account holders now can invest in the stock market easily.
He said that under the SBP’s ‘Shared KYC (Know Your Customer) Project’, local investors can open accounts in the capital market using their bank’s portal or app. Governor SBP said that this initiative will broaden investment avenues in the stock market in the country.
He stated this during a visit to the Central Depository Company (CDC) in Karachi on Wednesday. He appreciated the successful operations of important projects for Pakistan Capital Market, namely Roshan Equity Investment for Roshan Digital Account (RDA) holders and Raast for dividend payments.
SBP Governor said that CDC has played a vital role in the successful operations of Roshan Equity.
“This is only the beginning of what our vision is for the development of Pakistan’s Capital market,” said Dr Baqir.
Meanwhile, CDC CEO Badiuddin Akber said, “For the Shared KYC Project, CDC will again act as the information sharing bridge for the digital opening of capital market accounts through banking portals for local resident investors.”
The CDC is already processing thousands of transactions related to Roshan Digital Accounts and Raast for the Pakistan Stock Exchange.
