- Emlaak Financials is the first digital aggregator platform for mutual funds in Pakistan.
- The online investing portal has now released the full-fledged account opening feature.
- It enables investors to access a variety of funds from various AMCs through a single platform.
Emlaak Financials, the first digital aggregator platform for mutual funds, was formally launched by Finance Minister Miftah Ismail on Friday at the Central Depository Company (CDC) House in Karachi.
Initially used as a digital distribution channel for mutual funds, this technology has since been successfully used to other asset classes as well.
After launching the Emlaak pilot project in 2021 to allow Sahulat accounts to be opened through the platform, CDC has remained true to its promise to work with the mutual fund sector to improve the platform.
This online investing portal, the first of its type in Pakistan, has now released the full-fledged account opening feature, enabling investors to access a variety of funds from various asset management companies (AMCs) through a single platform.
Speaking at the event, the minister said, “Emlaak Financials is a very significant and timely initiative by SECP (Securities and Exchange Commission of Pakistan), and very successfully performed by CDC. It has been deployed as a digital aggregator of mutual funds.”
“It is crucial for the health of our economy that we implement such cutting-edge ideas that will advance Pakistan’s investment culture and offer investors a convenient way to open mutual fund accounts online from anywhere without having to go to an Asset Management Company’s physical location. This will allow investors to make informed investment decisions.”
According to SECP Chairman Aamir Khan, “The mutual fund sector is embarking on this integrated digital distribution channel introduced for the first time in Pakistan. It is truly a very important milestone.”
“At SECP, we firmly believe that processes should be re-engineered to increase efficiency and transparency through digitalization. We will continue to support and promote such projects by offering the necessary regulatory help in this regard.”
“Emlaak Financials has been envisioned to pave the path for the growth of the Mutual Fund Industry and promote the savings culture in Pakistan at the grass-roots level,” CDC Chief Executive Officer (CEO) Badiuddin Akber remarked when describing the platform’s goals.
“CDC is dedicated to provide capital market entities cutting-edge tech-based platforms so they may take advantage of CDC’s technology edge to improve their investor outreach in a practical, educational, and engaging way.”
Khalda Habib, director of the SECP, as well as asset management and other business executives, also attended the occasion.
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