Good news for Pakistanis who often invest in government securities, as the State Bank of Pakistan (SBP) has launched InvestPak, a new web portal developed to digitalise investments in state-backed securities.
Starting November 6, InvestPak allows individuals and corporate customers having PKR bank accounts to open Investor Portfolio of Securities (IPS) accounts, place bids in government bond auctions, and trade securities online safely.
Access to SBP's new digital platform to manage government securities can be gained through both web and mobile applications.
To facilitate customer onboarding, the SBP has instructed all commercial banks and primary dealers to assist, while encouraging microfinance banks to enable access for their account holders.
The bold move is expected to eliminate the delays caused by physical paperwork and branch visits, simplifying the account activation and investment processes.
Investors can participate directly in government securities auctions by simply submitting either competitive or non-competitive bids via the portal.
Another notable property of the portal is that it offers a unified interface for users with multiple IPS accounts across different banks, ensuring that onboarding requests are processed within 48 hours, with reasons provided for any rejections.
The SBP describes InvestPak as a significant step towards enhancing public access to Pakistan’s government securities market, minimising reliance on physical processes and promoting broader financial inclusion.