ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) will be accepting applications for testing in the Regulatory Sandbox from May 02, 2023. The applications submission window shall remain open till May 31, 2023. Complete applications can be emailed to: sandbox@secp.gov.pk.

The Regulatory Sandbox – now successfully entering its fourth Cohort – provides a tailored regulatory environment that allows entities to conduct limited scale live tests of innovative products, services, processes, and business models in a controlled and supervised environment.

The upcoming fourth cohort is divided into two segments:

(i) Islamic Finance; and (ii) Conventional Finance.

In Islamic Finance segment, ideas related to Shariah-compliant digital finance (e.g., crowdsourced finance, liquidity management solutions, micro- and nano-finance), Shariah-compliant products (e.g., small ticket savings and Sukuk fractionalisation), new takaful models and digital intermediation in regulated Islamic financial services shall be preferred.

Copyright Business Recorder, 2023