SECP facilitates investment by Overseas Pakistanis

SECP facilitates investment by Overseas Pakistanis

SECP facilitates investment by Overseas Pakistanis

SECP facilitates investment by Overseas Pakistanis Photo: File

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has abolished the requirement for banks to obtain separate licence for the distribution of mutual funds and private pension funds to Roshan Digital Accounts, a statement said on Wednesday.

This relaxation has been granted to facilitate overseas Pakistanis invest in the mutual funds and private pension funds managed by the asset management companies.

The initiative comes as part of the Securities and Exchange Commission of Pakistan’s (SECP) efforts to increase investor-base in Pakistan’s capital markets by enabling investment through the Roshan Digital Accounts.

However, the permission is only applicable to the banks that are eligible to open such accounts.

The licence requirement for the transfers to accounts other than RDAs is still applicable under the Securities and Future Adviser Regulations, 2017, it said.

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It is expected that this initiative will broaden the range of available investment avenues for the Overseas Pakistanis and increase the flow of foreign remittances to the country.

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