AGL 5.95 Decreased By ▼ -0.13 (-2.14%)
ANL 9.26 Decreased By ▼ -0.14 (-1.49%)
AVN 80.82 Decreased By ▼ -0.64 (-0.79%)
BOP 5.20 Decreased By ▼ -0.07 (-1.33%)
CNERGY 4.86 Decreased By ▼ -0.04 (-0.82%)
EFERT 81.82 Increased By ▲ 0.27 (0.33%)
EPCL 53.94 Decreased By ▼ -0.06 (-0.11%)
FCCL 14.29 Decreased By ▼ -0.11 (-0.76%)
FFL 5.93 Decreased By ▼ -0.12 (-1.98%)
FLYNG 7.44 Decreased By ▼ -0.12 (-1.59%)
FNEL 4.95 Decreased By ▼ -0.05 (-1%)
GGGL 9.18 Decreased By ▼ -0.14 (-1.5%)
GGL 16.51 Decreased By ▼ -0.19 (-1.14%)
HUMNL 6.14 Increased By ▲ 0.45 (7.91%)
KEL 2.77 Decreased By ▼ -0.02 (-0.72%)
LOTCHEM 30.81 Increased By ▲ 0.26 (0.85%)
MLCF 27.45 Decreased By ▼ -0.34 (-1.22%)
OGDC 74.27 Increased By ▲ 0.27 (0.36%)
PAEL 15.98 Decreased By ▼ -0.21 (-1.3%)
PIBTL 5.21 Decreased By ▼ -0.02 (-0.38%)
PRL 17.01 Decreased By ▼ -0.28 (-1.62%)
SILK 1.10 Increased By ▲ 0.01 (0.92%)
TELE 10.00 Decreased By ▼ -0.04 (-0.4%)
TPL 7.65 Decreased By ▼ -0.05 (-0.65%)
TPLP 19.41 Decreased By ▼ -0.36 (-1.82%)
TREET 22.72 Decreased By ▼ -0.47 (-2.03%)
TRG 146.80 Decreased By ▼ -0.55 (-0.37%)
UNITY 17.09 Decreased By ▼ -0.10 (-0.58%)
WAVES 10.33 Decreased By ▼ -0.05 (-0.48%)
WTL 1.42 Decreased By ▼ -0.04 (-2.74%)
BR100 4,330 Increased By 3.4 (0.08%)
BR30 16,296 Increased By 46.9 (0.29%)
KSE100 42,904 Increased By 23.3 (0.05%)
KSE30 15,805 Decreased By -4.6 (-0.03%)
Follow us

ISLAMABAD: The Chairman Securities and Exchange Commission of Pakistan (SECP), Aamir Khan, said that the Commission has instituted various reforms to develop a comprehensive and coherent industry policy to share regulatory thinking and promote a conducive FinTech environment in Pakistan, and the regulatory sandbox initiative is part of this agenda.

Khan was addressing a webinar on "Second Cohort of SECP's Regulatory Sandbox", organised by the SECP to create awareness regarding the concept of Regulatory Sandbox and describe its benefits to industry and working modalities.

Aamir Khan said that the FinTech industry is growing significantly in Pakistan and can play a vital role in expending financial inclusion.

However, he added, the innovations brought about by this growth; pose a challenges for regulators and financial supervisors, who are tasked with reducing the uncertainty.

In order to address this challenge, Khan said, the SECP has introduced the concept of Regulatory Sandbox, which provides a tailored regulatory environment to conduct limited-scale live tests of innovative products, services and business models under the regulator's oversight.

The SECP Chairman told participants that in the second cohort of Regulatory Sandbox, preference would be given to innovation in the areas of digital assets/Security Token Offerings (STOs), non-bank financial companies, blockchain/distributed ledger solutions for capital markets, digital identity/AML/KYC, AI, machine learning and robotic processes automation-based solutions.

The SECP officials gave a comprehensive presentation on Sandbox's mechanism, including details of eligibility criteria, application procedure, evaluation process and answer the participants queries. Successful candidates of the first cohort of Regulatory Sandbox shared their experience of working within the Sandbox environment.

Copyright Business Recorder, 2021

Comments

Comments are closed.

SECP develops coherent policy to promote FinTech environment

PM Shehbaz urges Turkiye to invest in Pakistan's mega solar project

Owned by resident Pakistanis: FBR starts taxing hundreds of foreign properties

Overnight reverse repo (ceiling) rate to be 17pc

Energy sector: ADB sending mission for proposed policy-based loan

China’s Shenzhen Energy signs long-term LNG contract with BP

Argentina look to Messi to salvage World Cup bid

Turkish cos to take up profit repatriation, taxation issues with PM

Policy rate hiked to 16pc to quell biting inflation

Alternative energy: PM urges Pak-Turkish collaboration

Jul-Oct period: Rs241.26bn authorised/disbursed under PSDP