Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has announced an extension for the registration timeline of existing customers under the Centralized Know Your Customer (CKO) regime, citing a substantial number of investors yet to comply with the mandate. The new deadline is set for June 30, 2025.

According to a notice issued on March 28, 2025, to all authorized intermediaries and clearing members, the NCCPL highlighted the importance of this extension in facilitating a comprehensive registration process. The previous deadline, which was communicated in December 2024, was scheduled for March 31, 2025. However, due to the significant number of investors who remain unregistered, the deadline has been pushed forward.

The CKO regime applies to customers who registered before June 17, 2019. This initiative is part of a larger effort to ensure all stock market participants are compliant with the Know Your Customer (KYC) protocols, which are crucial for maintaining the integrity and security of the financial system.

According to information available from the Pakistan Stock Exchange (PSX), this move is critical for the market category encompassing authorized intermediaries and clearing members. Failure to comply with the new timeline will result in necessary actions being taken by the NCCPL under applicable CKO regulations.

The NCCPL is also undertaking a validation process of customer credentials. The results of this verification will be shared with the respective authorized intermediaries for information and subsequent registration in the KYC Information System. This system is integral to the orderly operation and regulation of financial transactions within Pakistan’s stock market.

The notice reiterated that the CKO has introduced multiple options for customer registration, allowing for convenient compliance with the new requirements. The NCCPL has urged all intermediaries to make diligent efforts to ensure the completion of the KYC process within the new timeframe.