SECP Grants License to First Digital, Online Only Securities Broker in Pakistan

The Securities and Exchange Commission of Pakistan (SECP) has granted a license to Tamkeen Securities (Pvt) Ltd, Pakistan’s first fully digital, online-only securities broker, marking a significant milestone. The award of license marks a significant leap toward modernizing Pakistan’s capital markets, enhancing accessibility, and democratizing investment opportunities for retail and institutional investors nationwide, SECP said in a statement. The newly licensed digital brokerage house will allow investors to open accounts and execute trades, completely eliminating the need for physical visits, paperwork, or traditional brokerage channels. This initiative aligns with SECP’s strategic vision to accelerate digital transformation, promote financial inclusion, and strengthen Pakistan’s capital markets through innovation. With this development, Pakistan joins the ranks of global markets that have successfully implemented fully digital trading platforms, catering to the evolving needs of tech-savvy investors and boosting retail participation in the stock market. The fully digital onboarding transaction process is expected to attract a wider range of investors, fostering greater stock market participation, enhancing liquidity, and strengthening investor confidence. Developing Digital intermediaries is a focus area of the Commission. Prior to this, under the digital framework, an Asset Management Company and a life insurance company have been licensed while an application for digital-only non-life insurance is under process. Digital intermediaries apart from lower cost structure have wider outreach and ability to have built in compliance mechanisms. SECP remains committed to strengthening Pakistan’s capital markets by introducing innovative, technology-driven solutions and ensuring robust regulatory frameworks that support a secure, transparent, and investor-friendly ecosystem.