Askari Bank Enables Faster Corporate Account Opening

Askari Bank’s SECP integration cuts paperworkand verification delays, helping newly incorporatedcompanies access corporate banking faster.

Askari Bank Limited has linked its systems to the Securities and Exchange Commission of Pakistan’s corporate registry via an API, allowing the bank to access verified company details directly from the regulator. This digital connection reduces the paperwork newly formed companies must submit when opening corporate accounts.

By cutting manual checks and automating information retrieval, the integration should shorten onboarding times and let new businesses start banking and operations sooner with less administrative hassle. The SECP says Askari Bank is the first commercial lender to complete this connection.

The agreement was signed by SECP Commissioner Muzzafar Ahmed Mirza and Askari Bank Group Head Retail Banking Shaikh Rashid Rauf. SECP Chairman Dr Kabir Ahmed Sidhu described the step as part of the regulator’s digital reform programme, which aims to simplify business setup and provide reliable corporate data.

This initiative is aligned with the SECP’s broader “Paper to Platform” campaign to convert paper-based procedures into digital services. The regulator has pursued similar integrations with other financial players, including digital banks, to streamline corporate account opening for newly registered firms.

The SECP intends to roll out comparable links with additional banks and institutions. A wider network of connections would enable secure sharing of authenticated company records across participating lenders, reduce duplicate document requests, and speed access to formal financial services for startups and small firms.

Officials who attended the signing included SECP commissioners Muzzafar Ahmed Mirza and Zeeshan Khattak, Executive Director Mubashir Saddozai, Registrar of Companies Arsalan Zafar, and Askari Bank executives including President and CEO Zia Ijaz and Group Executive Operations Aslam Sadaruddin.