KARACHI: According to a statement issued by the PSX, investors can invest in the Pakistan Stock Exchange (PSX) through the highly simplified Sahulat Account by submitting their CNIC/SNIC and starting investing up to an amount of Rs800,000 after submitting their CNIC/SNIC.
This account is ideal for Pakistani students, housewives, novice investors, and others who want to invest in the stock market.
All regulated Securities Brokers, according to the statement, provide the Sahulat Account, which may also be created online.
Investors do not need to submit any specific evidence of source of income, such as salary slips or bank statements, to open a Sahulat Account.
PSX has already issued a notice regarding the account opening process in order to remove any ambiguity on the part of Securities Brokers and their customers.
Anyone who has been identified as “low risk” through a thorough risk assessment can open a Sahulat Account using this process. Simplified due diligence procedures, such as client identification verification, may be used by the Securities Broker.
Farrukh H Khan, the MD and CEO of PSX, highlighted the Sahulat Account’s convenience by saying, “The Sahulat Account involves an extremely simple and straightforward account opening process.” It’s never been easier for individuals to open a brokerage account and benefit from investing in the stock market, thanks to recent improvements in online account opening and local KYC sharing.”
“The Pakistan Stock Exchange continues to work to broaden our reach and make ourselves more accessible to investors, particularly retail investors, across the country,”.
“The ease with which investors can open a Sahulat Account demonstrates PSX’s efforts to not only make the stock exchange more accessible to individual investors but also to increase the number of investors. We now rely on our ecosystem members, Securities Brokers, to take advantage of these developments in order to facilitate and attract new investors.
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