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Shared KYC

Globally, Capital Markets are making great progress towards digital account opening with brokers and customers’ KYC information sharing among capital market entities and the banks.

Shared KYC is a joint initiative of Securities & Exchange Commission of Pakistan (SECP), State Bank of Pakistan (SBP), Pakistan Stock Exchange Limited (PSX), Central Depository Company of Pakistan Limited (CDC), and National Clearing Company of Pakistan Limited (NCCPL). After the success of Shared KYC arrangement for Roshan Digital Account Holders (RDA), the similar arrangement is also implemented by CDC for local customers as a pilot phase. The pilot phase is initiated with some of the banks and brokers.

Through the shared KYC initiative, resident Pakistani investors having a local bank account can initiate an onboarding request for stock market investment without their physical presence and without the need to submit any data or documents physically. It is an end to end digital process.

Eligibility for Shared KYC

Only the following category of investors are eligible to participate in stock market investment through Shared KYC:

Only Resident Individual Pakistani
Investor details in the bank records must be up to date
Investors must have an active bank account

Process of Shared KYC

Select designated bank who is eligible for providing Shared KYC information to the brokers and with NCCPL. The selection can be from the list of banks eligible for Shared KYC available at PSX website
Go to the selected bank’s web site. Investor initiates Stock Market Investment Request on the Bank Portal
Investor selects Broker, accepts T&Cs and gives consent to share KYC info with stock market entities
Bank shares investor KYC info and documents with CDC via API
CDC Hub performs initial screening and pushes Information & docs onwards to Broker and NCCPL
Broker may conduct EDD based on information & documents (if required)
NCCPL issues UKN
Broker confirms account opening status to CDC / Client
Broker will open CDC Account and perform UIN tagging
Broker posts information in Customer Profile after necessary verification
Information auto saved in Customer Profile. Broker may manually enter missing information

List of Brokers (In Downloadable Form)

List of Banks (In Downloadable Form)