Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has introduced the idea of digital asset management companies (AMCs) to promote financial inclusion and investment, news sources reported on August 1.
According to reports, these digital AMCs aim to reduce paperwork by delivering remote services by leveraging client data. This will also include the creation of permitted collective investment schemes, issuing investment units, and establishing an online account for redemption without the need for investors to visit the AMCs in person. The digital AMC concept paper is available for public comment on the SECP official website.
It is vital to highlight that the SECP is the country’s primary asset management advisory and regulatory agency, which promotes inclusive investment and development prospects, registers new firms and keeps a public record of all financial concerns.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
