Online Account Opening
NCCPL successfully brings first ever client onboard through digitalized process
The National Clearing Company of Pakistan (NCCPL), in its role as a Centralized Know Your Customer Organization “CKO”, had proposed a digital client onboarding process in collaboration and consultation with all the stakeholders. The Securities & Exchange Commission of Pakistan “SECP” spearheaded the initiative and approved the regulatory framework for its implementation on December 03, 2020.
The online account opening process is designed keeping in view all the necessary controls and without compromising on the level of ease expected from digital account opening process for a customer. For creating awareness, NCCPL had organized interactive webinars that have witnessed encouraging response from market participants.
It has been a historic day for the securities market as first ever online account has been opened successfully using the functionality in a hassle free manner. This initiative is expected to provide the required impetus to the market participants during the COVID-19 pandemic and boost the confidence of the investor fraternity, which is expected to result in enhancing the performance of Capital Market during the year 2021 and onwards.
NCCPL will continue to explore and offer allied services aimed at facilitating the digital onboarding journey of customers in near future.
We deeply appreciate and acknowledge the pivotal role played by SECP in developing and implementing the online functionality and are thankful to the Pakistan Stock Exchange Limited “PSX” and Central Depository Company of Pakistan Limited “CDC” for their continued support and active participation in this endeavor.