The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments to the Companies Regulations to create a centralised registry for companies’ Beneficial Ownership Information (BOI).
Under the amendments, companies would be required to submit their BOI information to the digital registry which will be made available to financial institutions.
By establishing the registry, the SECP aims to improve financial transparency and align Pakistan’s anti-money laundering framework with the recommendations of the Financial Action Taskforce.
A consultation on the proposed amendments is open until 29 April.
