Emlaak Financials, the first digital aggregator platform for mutual funds, was formally launched on August 5, 2022 at CDC House in Karachi by the Honorable Federal Minister for Finance & Revenue, Dr. Miftah Ismail.
This initiative is a milestone and a first of its kind in Pakistan’s capital market landscape. Initially used as a digital distribution channel for mutual funds, this technology has since been successfully used to other asset classes as well.
The Pilot project for Emlaak was initially launched in 2021 for the Sahulat account opening via the platform, after which CDC has continued to abide by its commitment to collaborate with the Mutual Fund Industry for enhancing the platform. The full-fledged account opening feature has now been launched via this online investment portal which is the first of its kind in Pakistan allowing multiple funds from different AMCs to be offered to investors through a single platform.
Honorable Federal Minister for Finance & Revenue Dr. Miftah Ismail officiated the event and said, “Emlaak Financials is a very important and timely effort by SECP and very effectively accomplished by CDC. It has been implemented 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.
“It is definitely a very important milestone for the Mutual Fund Industry as it embarks on this integrated digital distribution channel introduced for the first time in Pakistan,” Mr. Aamir Khan, Chairman SECP, remarked during his remarks at the event. In order to increase efficiency and transparency through digitalization, we at SECP are ardent supporters of re-engineering processes. We will continue to support and encourage all related efforts by offering the necessary regulatory help.
Additionally present at the ceremony were the Director SECP, Ms. Khalda Habib, as well as officials from the asset management and other industries. They praised CDC for taking on this project and for contributing to the growth of the mutual fund sector.
