As part of its efforts to facilitate ease of doing business through meaningful stakeholder interaction, the Securities and Exchange Commission of Pakistan (SECP) held an engaging virtual session with representatives of Overseas Investors Chambers of Commerce & Industry on Wednesday (OICCI).
The meeting was chaired by SECP Chairman Aamir Khan, who briefed participants on recent regulatory ecosystem reforms and highlighted some key changes, including the implementation of digital certificates of incorporation, the development of a special portal for banks to facilitate account opening, the digitization of resident and non-resident account opening processes for investment in banks
These reforms have significantly improved process performance, which has been properly reflected in the country’s global rankings.
During the meeting, the President told the members of the OICCI about the future efforts of the SECP to simplify regulatory standards, reduce enforcement costs and utilise technology to enhance user experience.
He affirmed the dedication of the SECP to the improvement of the business environment and the resolution of problems hindering foreign investment.
The President of the SECP told the participants that the Parliament had been presented with amendments to the Companies Act, 2017.
The amendments are in line with the government’s vision of promoting ease of doing business, improving access to finance, and addressing different issues facing companies, especially start-ups and smaller businesses.
Although appreciating the efforts of the SECP to facilitate the business community, the representatives of the OICCI also shared their ideas and suggestions for enhancing investor trust in the Pakistani market, which would improve foreign direct investment further.