The Securities and Exchange Commission of Pakistan and Askari Bank Limited have completed an API integration to accelerate corporate bank account opening for newly incorporated companies.
The system will allow eligible businesses to open accounts with fewer documentation requirements. It will also help them begin commercial operations sooner after completing their incorporation.
The initiative connects Askari Bank directly with SECP’s corporate registry. It forms part of the regulator’s wider digitalisation programme and its reforms linked to the World Bank’s Business Ready framework.
Askari Bank Becomes First Commercial Bank to Integrate
Askari Bank has become the first commercial bank to connect its system with the SECP corporate registry under the initiative.
SECP Commissioner Muzaffar Mirza and Askari Bank Group Head Retail Banking Shaikh Rashid Rauf signed the integration agreement.
Participants at the ceremony included SECP Chairman Dr Kabir Ahmed Sidhu and Commissioner Zeeshan Khattak. SECP Executive Director Mubashir Saddozai and Registrar of Companies Arsalan Zafar also attended.
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Askari Bank President and CEO Zia Ijaz joined the ceremony alongside Group Executive Operations Aslam Sadaruddin and other officials.
The collaboration creates a digital connection between the bank’s onboarding system and the regulator’s authenticated company records. This connection should reduce reliance on documents submitted separately by customers.
API Access to Cut Repeated Documentation
Through the API, Askari Bank can securely obtain verified corporate information directly from the SECP registry.
The integration will reduce manual verification, repeated document submissions and customer onboarding time. It will also limit delays that companies often face between incorporation and the start of banking operations.
New companies require operational accounts to receive investment, pay employees, process supplier transactions and begin regular commercial activity. Faster account opening can therefore shorten the period between legal registration and the launch of a business.
“This integration is part of SECP’s ongoing digitalization and B-READY reforms aimed at simplifying business processes, improving access to reliable corporate information and making it easier to establish and operate businesses in Pakistan,” Dr. Kabir Ahmed Sidhu said.
SECP already offers an end-to-end digital company incorporation process through its eZfile system. The regulator describes the online process as four user-friendly steps covering name reservation and incorporation.
SECP Plans Integration With More Banks
SECP plans to extend similar digital integrations to other banks and financial institutions. Wider adoption could establish a common system for banks to verify corporate customers against official records.
The regulator registered 10,511 new companies between February and April 2026. That marked a 21% increase from 8,693 incorporations during the same period a year earlier.
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The rising number of registrations increases demand for faster post-incorporation services, particularly corporate banking.
The World Bank’s Business Ready programme evaluates business conditions across areas including business entry, financial services, taxation and operational efficiency. It also examines how regulatory rules and public services work together in practice.
Direct access to authenticated registry information could improve both regulatory compliance and customer experience. However, participating institutions will still need to maintain security, privacy and banking due diligence requirements while using shared corporate data.
