PSX Onboarding: Sahulat vs Standard Accounts

Start with the investor and the intended activity

1.1 Eligibility comes before account selection

Begin by identifying the applicant: an individual or entity, resident or non-resident, adult or a person requiring a guardian route. An account product designed for one category should not be stretched to fit another by borrowing an identity or using someone else’s login. State the purpose of the money, expected funding pattern and products sought before comparing application forms. The simplest form is not necessarily the correct legal route.

1.2 Goals do not override product restrictions

Sahulat provides a simplified entry framework for eligible individuals under its current terms. A standard account uses the applicable fuller onboarding and due-diligence process. Standard does not mean unlimited access to every security, financing product or trading strategy: separate eligibility, agreements, risk assessment and broker availability may still apply. Roshan Equity Investment and other non-resident arrangements have distinct conditions; they are not automatic synonyms for Sahulat.

Step-by-step method

1. Record the applicant category and residence status.
2. List the intended markets and cash-flow needs.
3. Ask for the current written account terms before deciding.

Read the Sahulat framework accurately

2.1 Current cap and account conditions

At the 22 October 2026 review, PSX’s Sahulat information and its 2 April 2026 notice state a PKR 3 million limit per Sahulat account. The original course’s PKR 800,000 figure is outdated. The applicable notice and terms determine the exact measurement and operational treatment; a price rise, fresh purchase and funding transfer should not be assumed to consume a limit in identical ways. Obtain clarification before approaching a boundary.

2.2 Simplified does not mean anonymous

The March 2026 SECP announcement permits Sahulat accounts with different brokers while retaining one Sahulat account per broker. This does not remove identification, verification, permitted-market restrictions or the investor’s duty to provide accurate information. Simplified documentation is not a promise that every application needs only one card or no further questions. Read the current conditions and the broker’s implementation rather than treating a dated promotional description as the final rule.

Step-by-step method

1. Retain the current PSX terms and relevant notice date.
2. Confirm how the limit and permitted activities apply to the account.
3. Check any additional evidence required for the applicant’s circumstances.

Prepare the standard-account evidence

3.1 Identity, funds and ownership

Full onboarding may require identity verification, occupation and financial information, source of income or funds, bank evidence and declarations appropriate to the applicant category. Distinguish recurring income from the origin of the particular investment money. For example, an inheritance or asset sale is not described adequately by a salary slip alone. An entity also needs its legal existence, authorised signatories and beneficial ownership established under applicable requirements.

3.2 Consent, declarations and bank details

Read the customer relationship and custody arrangements, charges and authorised communication channels before signing. Check the account title and payment instructions independently. Tax status and any applicable Zakat declaration are separate matters with their own legal conditions; do not sign a statement that is inaccurate simply to reduce a deduction. Supply documents through the verified channel and avoid sharing passwords or one-time authentication codes with someone offering to finish the application.

Step-by-step method

1. Create a checklist specific to the applicant category.
2. Match names, identification and bank details across records.
3. Read declarations and resolve inaccurate or unclear entries before signing.

Connect trading, cash and custody records

4.1 An approved login is not the whole account

A trading account, bank funding arrangement, client code, UIN linkage and securities custody record serve different functions. Establish where cash and holdings will be recorded, which institution sends each statement and how corrections are requested. Record identifiers securely, but do not treat an identifier as a password. Independently inspect available alerts and statements so an account-opening error can be found before it affects later transactions.

4.2 Confirm fees, statements and controls

Review brokerage and other charges, order access, cash withdrawal procedures and relevant settlement obligations. Request information about complaint escalation and service interruptions. An account can be operationally ready while the investor has not yet completed a suitable investment analysis. Begin transactions only after understanding order controls and preserving enough cash for the resulting obligations; a platform limit is not the same as personal affordability.

Step-by-step method

1. Verify the completed account title and identifier mapping.
2. Confirm statement delivery, alerts, fees and withdrawal instructions.
3. Keep essential spending money separate from the approved trading limit.

Plan conversion and continuing maintenance

5.1 Moving from Sahulat to standard

Conversion should follow the current procedure rather than opening duplicate records casually. Ask which updated documents, consents, verification and account changes are required and whether any activity must pause during processing. Establish how existing securities, cash and pending obligations are treated. Do not assume conversion is automatic when an account approaches a limit or that it bypasses the review of a leveraged product.

5.2 Preserve continuity and update changes

Preserve original purchase dates, cost evidence, corporate-action history and statements through any account change. Update identity documents, contact information and financial circumstances through the authorised channel. Review the route again when residence, legal status, objectives or intended activity changes. The useful outcome is an account structure that remains accurate and understood, not merely a higher limit that encourages a larger position.

Step-by-step method

1. Request the written conversion checklist before the need becomes urgent.
2. Reconcile opening and closing records around the change.
3. Retain original acquisition history and verify updated communication details.

Choose a route through evidence, not account labels

Reference table

Glossary of key terms

Beneficial owner

The person who ultimately owns or controls the assets or arrangement under the applicable definition.

Conversion

A documented change from one account framework to another.

Due diligence

Checks used to understand and verify a customer and relevant risks.

Eligibility

The conditions a person must satisfy to use a particular account or product.

Sahulat account

A simplified investment-account framework subject to current conditions and limits.

Source of funds

The origin of the particular money being invested.

Standard account

An account route using the applicable fuller onboarding and verification process.

UIN

The investor identification linkage administered through NCCPL’s framework.

Frequently asked questions

Common pitfalls