KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) has launched an API-based functionality to allow investors to update their KYC (Know Your Customer) information digitally, marking a major step towards automating and modernizing Pakistan’s capital market processes.
The new KYC Information Update API enables seamless integration with brokers’ platforms, allowing investors to update personal and financial details directly through their brokerage applications. This includes CNIC/SNIC/NICOP information, contact details, mailing and permanent addresses, bank account information, and other personal data such as mother’s maiden name, place of birth, gross annual income, and source of income.
The initiative also simplifies the conversion of accounts from Sahulat to Normal type, eliminating the need for physical documentation and reducing administrative delays. Muhammad Munir of Muhammad Ahmed Khanani Securities has become the first broker to connect with the API.
The KYC Information Update API is set to go live on Monday, reinforcing NCCPL’s commitment to transparency, compliance, and efficiency in line with international best practices.
Copyright Business Recorder, 2025
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