Centralized Gateway Portal launched by government

According to a press statement The Central Depository Company of Pakistan Limited led the Centralized Gateway Portal, a unique financial modernization endeavor.

This transformative solution was supported by the Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited (NCCPL), Mutual Funds Association of Pakistan (MUFAP), Investment Advisory Council (IAP), and Pakistan Stock Brokers Association.

This innovation will transform Pakistan's financial ecosystem. The Centralised Gateway Portal will simplify and improve financial operations for businesses and investors nationwide.

The ceremony was presided over by Dr. Shamshad Akhtar, Federal Minister for Finance, and Mr. Akif Saeed, SECP Chairman.

In his launch speech, Dr. Shamshad Akhtar stressed the government's commitment to financial sector innovation. She said, "The Centralized Gateway Portal is a milestone in our efforts to improve investment and economic growth in Pakistan. It will lower costs, streamline processes, and enable safe financial transactions."

SECP Chairman Akif Saeed complimented the collaborative work that created the Centralized Gateway Portal. Noting, "This program shows how public-private collaboration may improve Pakistan's financial infrastructure. The SECP proudly supports revolutionary projects."

The Centralised Gateway Portal supports trading, clearing, settlement, and fund administration.

It should boost Pakistan's appeal to domestic and foreign investors.

By simplifying client onboarding, the technology is expected to benefit financial institutions. CGP has cutting-edge KYC/CDD technologies and a synchronized, AI-based KYC and AML architecture.

This will assist financial service providers make educated judgments by providing an indicative risk assessment.

The CGP will centralize all data and papers, eliminating the need for Financial Institutions to store them.