Tuesday Apr 05, 2022
KARACHI: Investors can invest in Pakistan Stock Exchange (PSX) through the highly simplified Sahulat Account by submitting their CNIC/SNIC and start investing up to an amount of Rs800,000, a statement issued by the PSX said.
This is an ideal account for Pakistani individuals such as students, housewives, novice investors, or others wanting to invest in the stock market.
According to the statement, all licensed Securities Brokers are offering the Sahulat Account facility and it can be opened online as well.
For Sahulat Account, investors need not submit any specific evidence of source of income such as salary slips or bank statements etc.
In order to remove any kind of ambiguity on part of Securities Brokers and their customers, PSX has already issued a notice with respect to the account opening process.
As per this process, any individual identified as ‘low risk’ thorough risk assessment can open a Sahulat Account. The Securities Broker may apply simplified due diligence measures which include verification of the identity of customers.
Highlighting the utmost convenience offered by the Sahulat Account, the MD and CEO of PSX, Farrukh H Khan stated: “The Sahulat Account involves an extremely simplified and straightforward process of account opening. Coupled with the recent improvements in online account opening and local KYC sharing, it has never been easier for individuals to open a brokerage account and benefit from investing in the stock market.”
“Pakistan Stock Exchange continues its efforts to expand our outreach and become accessible to investors, particularly retail investors, throughout Pakistan," he added.
"The ease with which investors can open a Sahulat Account is proof of PSX’s efforts to not only provide greater accessibility to individual investors but also increase the number of investors on the stock exchange. We are now counting upon our ecosystem members, the Securities Brokers, to leverage these developments to facilitate and bring in new investors.”