ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) stated on Monday that it plans to launch digital asset management companies (AMCs) to promote financial inclusion and ease the process of investment.
The regulatory agency has published a related concept paper on its website for public information, according to which digital AMCs have the potential to promote investment by reducing paperwork, providing remote services and leveraging customer data efficiently.
These companies will offer the full range of AMC services, including launching collective investment schemes (CIS), online account opening, issuing and redemption of units and inter CIS conversions through digital means, where the investor is not required anymore to visit any distribution point in person.
The concept note also describes the different challenges faced by brick-and-mortar AMCs, possible benefits of digital AMCs in Pakistan, primary goals of the development of digital AMCs, and significant regulatory challenges. It also outlines a framework that can address the identified gaps.
The SECP is also preparing to test the digital AMC model in a sandbox testing environment.
Currently, there are 21 AMCs in Pakistan, managing assets with a total value of Rs1.2 trillion.
Islamabad: The chairman of the Capital Development Authority (CDA) and Chief Commissioner Islamabad, Muhammad Ali…
Peshawar: The Khyber Pakhtunkhwa government is exploring plans to construct a 31-kilometre outer ring road…
Islamabad: The National Highway Authority (NHA) has spent more than half of its development budget…
Karachi: A high-level meeting chaired by Sindh Minister for Local Government Syed Nasir Hussain Shah…
Riyadh: Saudi Real Estate Co. (Al Akaria) has signed a long-term lease agreement with Amsa…
Rawalpindi: The divisional administration has begun acquiring land for the Rs5 billion Thalian Interchange, a…
Welcome to Graana Blog - Pakistan’s Smartest Property Portal!
For more than a decade our intention has been to revolutionise the real estate industry in Pakistan. The same belief drove the vision of our real estate team, Graana where quality beats quantity.
We have introduced an extremely transparent and purposeful portal where we will help you buy, rent or sell your property. A place where you can sit back relax and let us market your projects and listings. We believe we have set new standards for the future of real estate in Pakistan by providing the smartest property portal.
