ISLAMABAD: Pakistan’s Securities and Exchange Commission, VEON and JazzWorld met Sept. 8 to explore ways to expand digital financial services and make investments, savings and insurance more accessible through technology and online platforms.
SECP Chairman Dr. Kabir Ahmed Sidhu called for greater use of digital technology across Pakistan’s capital markets, real estate investment trusts and insurance sector, saying digital tools could help increase the reach and use of regulated financial products. Sidhu spoke during a meeting with senior officials from VEON and JazzWorld in Islamabad.
Attendees included VEON Group CEO Kaan Terzioglu, JazzWorld CEO Aamir Ibrahim and Syed Zaheer Mehdi. SECP Commissioner Ali Farid Khawaja also participated.
The discussion centered on how digital platforms can bring more people into Pakistan’s formal financial system and make it easier for individuals to access investment opportunities, savings products, insurance and other financial services, according to a SECP statement.
Wider digital access could also help deliver financial products to people with limited access to traditional financial institutions.
During the meeting, VEON and JazzWorld representatives reaffirmed their long-term commitment to Pakistan, saying they have invested about $11 billion in the country over the past three decades. The companies outlined plans for additional investment, expecting to invest another $1 billion over the next three years, highlighting their continued focus on Pakistan’s digital and technology sectors.
Sidhu stressed that expanding digital financial services must go hand in hand with financial education, emphasizing the need to use digital platforms to improve public awareness about financial products, investment decisions and personal financial planning.
Participants agreed that greater digital access alone would not be enough to increase public participation in formal financial markets, saying people also need clear and reliable information to understand financial products and make responsible investment decisions.
The meeting concluded with a shared focus on using technology to improve access to financial services while strengthening financial literacy and investor education.
