ISLAMABAD: The Security and Exchange Commission of Pakistan (SECP) Chairman, Aamir Khan on Tuesday said that the institution has developed a comprehensive and coherent policy for the promotion of the FinTech environment.
Speaking at the webinar on “Second Cohort of SECP’s Regulatory Sandbox”, Aamir Khan said that the regulatory authority would provide a controlled environment to conduct experimental tests in order to develop products, controls and regulatory oversight. The webinar was organised by SECP.
As per Aamir Khan, FinTech has immense potential for growth and expansion in the financial sector. However, the new developments would also pose challenges for regulators and supervisors.
He further highlighted the mechanism of the SECP’s Regulatory Sandbox and gave details regarding the application procedure, eligibility criteria and the evaluation process.