Using the relatively simplified Sahulat account, investors can invest on the Pakistan Stock Exchange (PSX).
According to a press statement issued on Tuesday, the Sahulat account provides remarkable convenience of account opening for investors, allowing them to register a Sahulat account by just inputting their CNIC and begin investing up to Rs. 800,000 immediately.
This is a great account for Pakistani persons such as students, housewives, rookie investors, and others who wish to invest in the stock market but have been hesitant to do so because the traditional account creation process is time-consuming and requires the submission of various paperwork.
The Sahulat account is available from all regulated securities brokers. Additionally, it can be opened online.
Investors do not need to produce any specific documentation of source of income, such as salary slips or bank statements, to open a Sahulat account.
The Pakistan Stock Exchange (PSX) has already released a notice regarding the account opening process for the Sahulat account in order to dispel any doubt on the part of securities brokers and their customers.
Anyone who is deemed ‘low risk’ during the risk assessment procedure is eligible to open a Sahulat Account. Simplified due diligence measures, such as customer identity verification, may be used by the securities broker.
Farrukh H. Khan, the MD & CEO of PSX, claimed that this account provides the ultimate ease. He 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.”
He also added, “Pakistan Stock Exchange (PSX) continues its efforts to expand our outreach and become accessible to investors, particularly retail investors, throughout Pakistan. 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.”
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