ISLAMABAD, Jan 28: Dr. Kabir Ahmed Sidhu has officially taken the reins as Chairman of the Securities and Exchange Commission of Pakistan (SECP) in Islamabad on Wednesday.
His tenure marks the onset of a reform-centric agenda that aligns with the Prime Minister’s Economic Governance Reforms. The agenda emphasizes bolstering Pakistan’s capital markets, enhancing business convenience, and promoting financial inclusion, according to an SECP press release.
Before his current role, Dr. Sidhu resigned as Chairman of the Competition Commission of Pakistan (CCP), with his resignation being accepted by the federal cabinet on January 27.
Upon taking office, Dr. Sidhu articulated a clear vision for creating a fair, transparent, and inclusive financial market. His aim is to channel savings into investments that foster innovation and sustainable economic growth.
He highlighted that the SECP’s priorities include reducing business costs by simplifying regulations, streamlining processes, and advancing digital transformation across the corporate and financial regulatory landscape.
Dr. Sidhu emphasized that capital markets are the driving force of economic growth and intends to widen the investor base, encourage new listings, and introduce a variety of financial products. This includes enabling legal and regulatory frameworks for derivatives, REITs, green bonds, and fractional investment options.
The purpose of these measures is to enhance market depth, liquidity, and investor confidence, aligning Pakistan’s markets with global best practices.
A cornerstone of the new Chairman’s strategy is revitalizing the Non-Banking Financial Companies (NBFC) sector. Dr. Sidhu stressed the importance of leasing, digital lending, mortgage finance, and peer-to-peer platforms in expanding credit access, especially for SMEs, first-time borrowers, and underserved segments.
The SECP aims to develop a more supportive regulatory environment to tap into the sector’s growth potential.
Under Dr. Sidhu’s leadership, special attention will be given to the insurance sector, focusing on increasing insurance penetration through digital micro-insurance, Takaful, parametric climate insurance, and improving transparency in policies and claims management. These initiatives aim to extend insurance coverage to informal sectors, boost consumer protection, and strengthen economic resilience.
Further advancing the SECP’s digital transformation, Dr. Sidhu plans to utilize the LEAP project to fully digitize the licensing regime. A smart compliance system will simplify regulatory requirements, reduce compliance costs, and expedite business operations.
These strategic initiatives are anticipated to enhance regulatory efficiency, making Pakistan more attractive for investment.
