Business Desk 
Sep 03, 2025
The Securities and Exchange Commission of Pakistan (SECP) has made some recent changes regarding the provision of Digital Asset Management Services (DAMS) by Digital Asset Management Companies (Digital AMCs).
Notably, the new requirements were published as S.R.O.1438(I)/2025, which amended the Non-Banking Finance Companies and Notified Entities Regulations, 2008.
SECP's Digital Asset Management Services
The framework indicates that a “Digital Platform” means all tools, applications, software or solutions that operate or use digital/IT as the main interactive medium with the Digital AMCs, the investor and/orparties related to a transaction.
This includes mobile applications, web-based portals, internet-based wizardry (services), digital distribution platforms and other supporting digital tools and solutions.
The Digital Platforms include those digital platforms where the Digital AMCs administer, manage, or own, as well as digital services provided by standard Asset Management Companies (AMCs) utilising those digital platforms.
To be eligible, first, a Fund Management NBFC must obtain permission under Rule 4 of the NBFC Rules to be an NBFC and must fulfil all other licensing conditions outlined under Rule 5 and must disclose its intentions to function as a Digital AMC in Form-II of the NBFC Rules.
The SECP may further issue an Asset Management Services (AMS) licence, which means the OAMC would also be described and conditioned under that licence to provide or do DAMS with digital platforms.
Applicants must submit a business plan with their licence request, including financial projections for at least five years, covering operational strategy, financial sustainability, and a risk management framework.
