Secondly, the low degree of internet penetration, approximately 1.5m users, limits the scope of the on-line product. The profile of these internet-users is unknown. An educated guess would point in the direction of not many among them to be market speculators or investors. A major stumbling block will be oversees to documentation in our society. Because the quantum of the black economy is approximately 50-70 per cent of Pakistan's GDP, meaningful progress is not possible without accommodating it.
Cash is a preferred mode of conducting transactions and business for many.
Cheques will need to be exchanged. This will be discomforting for quite a few. Many investors will not be comfortable with the thought of disclosing their source of wealth, which will be used to fund transactions, or speculate. Another aspect is that of regulation. The settlement system would also need to be integrated with this mode of trading.