Sehl Accounts: SECP decides to promote financial inclusion, attract low-ticket investments

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has announced some major decisions to promote financial inclusion and attract low-ticket investments under Sehl Sarmayakari Accounts (Sehl Accounts).

The Securities and Exchange Commission of Pakistan (SECP) has allowed the Asset Management Companies (AMCs) to onboard customers digitally through regulated reporting entities via secure API integration.

In this regard, the SECP has issued circular number 3 of 2026 on Thursday on Digital Onboarding of Investors through Regulated Financial Institutions or Third Parties Notified by the Commission via API Integration.

According to the SECP’s circular, to promote financial inclusion, to attract low-ticket investments under Sehl Sarmayakari Account (Sehl Account), and to eliminate duplication in customer verification while ensuring compliance with the Anti-Money Laundering Act, 2010 and the Securities and Exchange Commission of Pakistan (Anti Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing) Regulations, 2020 (“AML/CFT/CPF Regula-tions”), the SECP has issued the new procedure.

This circular shall apply to AMCs for onboarding of investors under Sehl Account only and AMCs may rely on verification of identity of the customer, conducted through NADRA Verisys and/or Biometric verification or any other mode as introduced by NADRA from time to time, by a Reporting Entity i.e. financial institutions such as Scheduled Banks, Microfinance Banks, and Electronic Money Institutions (EMIS) regulated by the State Bank of Pakistan or any other thirdparty as notified by the Commission.

The AMCS shall obtain and retain document or information digitally or physically such as system logs, reference numbers, or confirmation records, evidencing that the customer identity verification has been carried out by such reporting entity, and also ensure that such records remain readily accessible for inspection by the Commission or any other competent authority.

Upon receiving of such verification information, AMCS shall not be required to repeat verification of respective customer identity through NADRA. The AMCs shall, on an ongoing basis, maintain and up-to-date contact and institutional details of the institution so relied upon, including details of designated focal person(s), and shall ensure that such information is readily available to the Commission or competent authority, for verification, inspection, as and when required.

(6) The AMCs shall ensure that the customer data is received directly through encrypted and secured API integration without manual intervention, ensuring data integrity, confidentiality, and auditability.

Copyright Business Recorder, 2026