ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued a circular directing all registered non-life insurers, including general takaful operators engaged in underwriting motor vehicle insurance, to participate in the Motor Insurance Repository (MIR).
The MIR is a centralized electronic database established under a Memorandum of Understanding between insurance companies, takaful operators, and the Central Depository Company (CDC). It enables the secure storage, validation, and accessibility of motor insurance policies and claims data.
Insurers underwriting motor vehicle insurance are now required to sign a Service Level Agreement (SLA) with the CDC within 60 days and share complete and accurate policy data in accordance with the SLA. This data may be shared with relevant federal and provincial authorities for policy validation, while maintaining strict confidentiality and security requirements.
This regulatory measure is a key step toward strengthening the enforcement of mandatory motor third-party insurance across Pakistan. A centralized and validated data repository will allow authorities to verify insurance coverage efficiently, addressing significant gaps in compliance.
The SECP remains committed to promoting digital transformation, strengthening compliance, safeguarding public interest, and enhancing the integrity and efficiency of Pakistan’s insurance ecosystem.
Also, read this breaking news:
Jobs in State Bank and NADRA
The State Bank of Pakistan and the National Database Registration Authority (NADRA) have announced multiple jobs for young and talented candidates.
The State Bank of Pakistan has announced vacancies for the Officers Grade-2 for its 9th Batch. The SBP is the regulator for the banking sector in Pakistan.
The State Bank of Pakistan, however, did not disclose the number of vacant posts; the central bank, however, hires dozens of candidates in a batch to accommodate young, talented candidates.
The central bank has set December 22, 2025, as the last date for filing applications. The SBP has mentioned the requirements for the posts in detail on its website.
To apply for the vacant posts, follow this link to the State Bank of Pakistan.
Jobs in NADRA
NADRA is going to hire a Deputy Director, Vigilance, for the Gilgit-Baltistan region. December 21, 2025, is the deadline to submit applications online.
The position requires a candidate who can lead vigilance activities, monitor sensitive operations, ensure adherence to organizational rules, and support risk mitigation across the region. The ideal professional will possess strong analytical judgment, the ability to manage both field and office work, and the capacity to coordinate effectively with internal and external stakeholders with discretion.
