Karachi, In a significant announcement to the financial sector, the National Clearing Company of Pakistan Limited (NCCPL) has issued a reminder to all Authorized Intermediaries (AI) regarding the extension of the deadline for the registration of existing customers under the Customer Knowledge (CKO) regime. Initially set for completion by March 31, 2024, the timeline has now been extended to June 30, 2024, due to the substantial number of investors yet to register in the Know Your Customer (KYC) database.

The extension follows NCCPL Circular No. NCCPL/CM/DECEMBER-23/13 dated December 29, 2023, emphasizing the importance of compliance with CKO regulations. The NCCPL has initiated the validation of customer credentials, with results to be shared with AIs for necessary action in the KYC Information System (KIS).

AIs are strongly encouraged to utilize multiple customer registration options introduced under the CKO regime for the efficient completion of the KYC process within the new deadline. The NCCPL has warned that failure to adhere to the stipulated timeline may result in necessary actions in accordance with applicable CKO regulations.

For assistance, AIs and investors are directed to contact the NCCPL Customer Support Department or utilize the provided WhatsApp service for immediate queries.

The announcement has been communicated to key stakeholders in the financial sector, including the Securities and Exchange Commission of Pakistan, Pakistan Stock Exchange Limited, Central Depository Company of Pakistan Limited, and Pakistan Mercantile Exchange Limited, underscoring the collective effort to ensure regulatory compliance across the board.