Islamabad: The National Database and Registration Authority (NADRA) and the Securities and Exchange Commission of Pakistan (SECP) have formalized a new agreement to streamline collaboration and exchange of information. This partnership, cemented through the signing of a Memorandum of Understanding (MoU), aims to facilitate seamless cooperation between the two organizations. The signing ceremony was held at SECP’s headquarters in Islamabad, bringing together key stakeholders from both institutions.
As part of the MoU, NADRA and SECP will work closely across various areas, ensuring their collaborative efforts are well-coordinated and regulated. The primary objective of this agreement is to establish a clear framework for cooperation, ensuring efficiency in data exchange, cybersecurity, and overall business operations.
The MoU signing was attended by senior officials from both institutions. Leading the NADRA delegation was its Chairman, Lt. Gen. Muhammad Munir Afzal, while SECP’s Chairman, Akif Saeed, represented the regulatory body. Also present were SECP Commissioner Mujtaba Ahmed Lodhi, NADRA Chief Project Officer Rehman Qamar, and other high-ranking officers. Their participation highlighted the significance of this partnership in fostering a secure digital ecosystem in Pakistan.
This MoU opens up a range of opportunities for collaboration in areas of mutual interest, particularly with regard to SECP-regulated entities. NADRA will be providing identity verification services, enabling SECP-regulated companies to ensure compliance and security in their operations. Furthermore, the exchange of data between the two bodies will allow them to develop policies that are informed by real-time insights, which will ultimately strengthen regulatory measures.
Speaking at the event, NADRA Chairman Lt. Gen. Muhammad Munir Afzal emphasized the importance of this collaboration, particularly in light of Pakistan’s growing need for a secure digital infrastructure. He noted that by combining the strengths of NADRA and SECP, they can significantly enhance the efficiency of service delivery, ensuring that citizens’ sensitive data remains secure. According to Afzal, this partnership will also help address the rising threats of cyberattacks and unauthorized access to personal information, making it a key step toward building a robust cybersecurity framework.
In his remarks, SECP Chairman Akif Saeed praised NADRA for its proactive role in supporting SECP’s efforts to regulate businesses and secure the digital landscape of Pakistan. He highlighted the critical role that NADRA plays in verifying the identities of individuals and organizations, which is essential for SECP to effectively regulate the corporate sector. Saeed also thanked NADRA for its ongoing support and commitment to improving the country’s digital infrastructure, underscoring the importance of joint efforts in developing a safe and secure ecosystem for businesses and individuals alike.
SECP Commissioner Mujtaba Ahmed Lodhi added to these sentiments by acknowledging NADRA’s significant contributions to raising awareness about data security. He praised NADRA for extending its services to SECP-regulated entities and for actively participating in efforts to strengthen cybersecurity practices across various sectors.
Both NADRA and SECP expressed their mutual commitment to ensuring continued cooperation, with a focus on regularizing data exchange and coordination on a wide range of issues. They reiterated their shared goal of enhancing cybersecurity, streamlining business processes, and improving data management to create a more resilient digital infrastructure for Pakistan. This MoU marks a critical step in strengthening the relationship between the two organizations and ensuring a secure digital future for the nation.