The Securities and Exchange Commission of Pakistan (SECP) has allowed Asset Management Companies (AMCs) to open Sehl Sarmayakari Accounts directly for resident Pakistani individuals through their own digital platforms or physical forms.
Previously, these low-risk investment accounts could only be opened through branchless banking agents, electronic money institutions (EMIs), or scheduled banks.
Under the revised framework, AMCs will be responsible for collecting customer information, carrying out required verifications, and ensuring compliance with prescribed transaction and investment limits for Sehl Accounts. The accounts will continue to operate under a simplified due diligence and Know Your Customer (KYC) regime.
SECP said that Sehl Accounts can later be upgraded to Sahulat Sarmayakari or Sarmayakari Accounts once additional documentation requirements are met, allowing investors to make higher-value investments beyond the Sehl Account limits.
The move is aimed at encouraging micro-savings and expanding access to capital market products, particularly for low-income and low-risk individuals. Sehl Sarmayakari Accounts are designed to provide a simplified and quick onboarding process while enabling customers to invest in low-risk collective investment schemes, including mutual funds.
According to SECP, the decision is part of broader regulatory efforts to promote financial inclusion, improve investor access, and support capital market development, while maintaining investor protection and regulatory oversight
