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ISLAMABAD: The Securities and Exchange Commission of Pakistan’s Regulatory Sandbox continues to lead innovation and technological disruptions, particularly in the Fintech sector. The third cohort of Regulatory Sandbox will include business models and technology platforms for telematics-based vehicle insurance, digital-only asset management companies, banking sector ETF, livestock fund and bond fractionalization.

These business models and tech platforms will be tested in the coming 9-12 months. The SECP approved eight applicants out of the applications received for testing innovative business solutions for the financial services market. Applications under the third cohort were accepted during the months of April-May 2022.

The third cohort received response from a wide range of established entities and start-ups, as well as from foreign companies, proposing innovative business models. However, preference was given to innovation in the areas of digital-only Asset Management companies, telematics-based insurance, digital platforms for private placement of debt instruments, AI based Algorithmic Trading Platform, AI and data analytics-based credit scoring and other decision making.

The approved participants shall have an initial incubation period of 2 months to align their business and technology aspects/partners. It will be followed by live testing, which can take 6 to 10 months.

At the end of the testing period, applicants shall submit a comprehensive report to the SECP for sharing overall results and statistics. This process assists in bringing new and beneficial technology products for the end users to the market.

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Rebirth Sep 23, 2022 10:01am
Credit score should help grow local ratings agencies and provide a great deal of employment to finance graduates. In fact, business schools will flourish if ratings agencies become active in our markets, generally. Improved trading platforms will help increase the volume and even quality of financial transactions, which could result in increased wealth for traders. People with a high net-worth should feel incentivized to invest in Pakistan instead of foreign countries. They have these convenient financial services and advisors, who simply need an approval from the investors to get the returns they need. Those who do prefer to invest in Pakistan, prefer real estate and that has destroyed our cities’ master plans all over the country.
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Rebirth Sep 23, 2022 10:11am
For financial markets, blockchain-based smart contracts for stock options is a good choice. But this can lead to market manipulation and even crash the market because if institutional investors or those with a great deal of financial clout in the markets decide to go short, it’ll bring down the entire market with them. There’s a 5% cap in the PSX after which the market shuts down automatically. This, too can be based on the same underlying technology as smart contracts. And for futures contracts, preferably for commodities, a similar smart contract-based mechanism could be used. Out of all the financial technology introduced in recent times, outside of digital banking and ATMs, smart contracts, in theory, seem to be the most revolutionary or at least, provide the most convenience. Blockchain for land registry can dramatically reduce corruption in Pakistan, where real estate is basically nothing short of manipulating urban maps of cities by land-grabbing or encroachment. It’s the worst.
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