SECP Accelerates Digital Finance with New Lending Licenses, Signals Investment-Friendly Reforms
The Securities and Exchange Commission of Pakistan (SECP) has issued a digital lending license to push Foreign Direct Investment (FDI) and investment-friendly Pakistan.
Adil Aziz
SECP Introduces Self-Assessment Declaration for NBFC’s to Enroll Digital Lending Apps
The Securities and Exchange Commission of Pakistan (SECP) has introduced a Self-Assessment Declaration Form to expedite and simplify the enrollment of Non-banking Finance Companies (NBFCs) digital lending apps on its approved list.
SECP unveils a comprehensive framework for digital lenders to launch innovative products
The revised framework introduces a host of new product verticals tailored to meet the evolving needs of borrowers and further strengthening the cyber security standards. Noteworthy among these innovations are the introduction of Embedded Lending through APIs, Buy Now Pay Later services, and Employer Integrated Earned Wage Access.
Editor
SECP releases annual report of the FY Year 2023-24
The Securities and Exchange Commission of Pakistan has released its annual report for fiscal year 2022-23, which details its accomplishments and financial accounts. Chairman, Akif Saeed expressed satisfaction with the SECP’s focus on fostering capital formation, simplifying procedures, robust enforcement and facilitative measures aimed at ease of doing business in Pakistan.
SECP imposes pricing caps on digital personal loans
The Securities and Exchange Commission of Pakistan imposed pricing caps on digital personal loans by mobile applications. In a significant move towards promoting responsible lending and consumer safety, the Securities and Exchange Commission of Pakistan issued an all-encompassing set of requirements for Non-Banking Financial Companies (NBFCs) offering digital personal loans via mobile applications, said a…
Finance Minister suggests listing of govt debt securities at PSX
Dr. Shamshad Akhtar, the Federal Minister for Finance and Revenue said that the securities market can play a vital role in the development of debt market through the listing of Government debt securities on Pakistan Stock Exchange. Speaking at the inauguration ceremony of the Centralized Gateway Portal, Dr Akhtar said that the issuance securities through…
SECP issues Shariah Compliance Certificate to a startup
The Securities and Exchange Commission of Pakistan (SECP) has issued a Shariah compliance certificate to a licensed non-banking finance company (NBFC) offering Buy Now Pay Later (BNPL) services on the Shariah principle of Musawamah, whereby profit margin is included in the sale price of the commodity. The certificate has been granted to Qist Bazaar (Private)…
SECP reaffirms its commitment to safeguarding public interests
Google has introduced additional requirements for digital lending Apps SECP regulates Non-Banking Finance Companies (NBFCs) which are authorized to undertake lending. Some of these NBFCs have also ventured into personal loans through digital Apps. A list of SECP approved Apps is available on the SECP’s website. Other than these, all Apps available on various play/app…
SECP leads by example in Corporate Governance, Enterprise Risk Management and Sustainable Development: Aamir Khan
“SECP, as the regulator of not just the corporate sector, but also the capital markets, NBFCs and insurance sector, is passionate about implementing a comprehensive and robust code of corporate governance in Pakistan, being equally focused on promoting effective management, improving transparency, and fostering healthy competition,” said SECP Chairman Aamir Khan in his keynote address…