Islamabad : SBP Governor Dr. Raza Baqir has said that the successful launch of important projects of national interest like RDA, in which bright equity is a component and also commercial banks have done an excellent job on the right which was initiated by SBP. ۔
He said that under SBP’s ‘Joint KYC (Know Your Customer or Your Customer) Project’, residential investors can open accounts in the capital market using their bank portal or app. It will pave the way for wider access to the equity market.
According to a report, Dr. Raza Baqir during his visit to Central Depository Company (CDC) on the successful operations of Rosht for Roshan Digital Account (RDA) holders for Roshan Equity Investment and Distributed Payment for Pakistan Capital Market. Appreciated the role of CDC.
Dr. Raza Baqir acknowledged that the CDC has played an active role in Roshan Equity’s operations, saying that this is just the beginning of our vision for the development of the country’s capital market.
CDC CEO Badi-ud-Din Akbar said that for the joint venture YC project, CDC would again serve as a source of information for local investors to open digital capital accounts through banking portals. ۔
CDC is already working on Roshan Digital Accounts and thousands of direct transactions for the Pakistan Stock Exchange.
Brokerage houses, meanwhile, said the joint venture’s YC project was useful for developing the equity market.
Muhammad Sohail, CEO of Topline Securities, said that this would save a lot of time and effort in opening a broker account and could help increase the number of investors.
“I think this is very helpful because opening an account in the Pakistani market has been a big issue,” said Samiullah Tariq, head of research at Pak-Kuwait Investment and Development Company.
He added that at a time when new investors are looking for investment opportunities, it will also help companies grow and increase their capital.’
