The Securities and Exchange Commission of Pakistan (SECP) will be accepting applications for testing in the Regulatory Sandbox from May 02, 2023. The applications submission window shall remain open till May 31, 2023, said a press release issued here. Complete applications can be emailed to: sandbox@secp.gov.pk The Regulatory Sandbox – now successfully entering its fourth Cohort – provides a tailored regulatory environment that allows entities to conduct limited scale live tests of innovative products, services, processes, and business models in a controlled and supervised environment. The upcoming fourth cohort is divided into two segments: (i) Islamic Finance; and (ii) Conventional Finance. In Islamic Finance segment, ideas related to Shariah-compliant digital finance (e.g., crowdsourced finance, liquidity management solutions, micro- and nano-finance), shariah-compliant products (e.g., small ticket savings and sukuk fractionalization), new takaful models and digital intermediation in regulated Islamic financial services shall be preferred. In Conventional finance segment, preference will be given to ideas related to Robo-Advisory, AI Based Automated Fund Management, Asset Fractionalization and Single Window Lending Platform.
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