First P2P Lending Platform Approved By SECP

Pakistan’s Securities and Exchange Commission (SECP) has approved the country’s first Peer-to-Peer (P2P) lending service provider, marking a significant milestone in promoting innovation and protecting investors and consumers.

Pakistan’s financial sector has achieved a significant milestone with the emergence of “Finja Invest” as the country’s first-ever P2P service provider platform. The Securities and Exchange Commission of Pakistan (SECP) has issued a press release highlighting the platform’s launch, which is expected to contribute to the sustainable development of the financial sector and the country’s digital transformation. The SECP has praised the emergence of Finja Invest as a significant step towards promoting financial inclusion and providing innovative solutions to the country’s financial challenges.

Finja Lending Services Limited (FLSL) has successfully obtained approval from the Securities and Exchange Commission of Pakistan (SECP) after undergoing rigorous testing in the regulatory sandbox. In a recent evaluation process, the service provider underwent scrutiny to ensure compliance with regulatory regulations, procedures for risk management, privacy measures, and overall effectiveness in operation.

The Securities and Exchange Commission of Pakistan (SECP) has set up a regulatory structure for peer-to-peer (P2P) lending under the current Non-Banking Financial Companies Regulations of 2008. A new framework has been introduced to ensure that peer-to-peer (P2P) service providers operate in a transparent and secure, and compliant manner. The framework aims to promote trust between investors and borrowers who use these services.

The Securities and Exchange Commission of Pakistan (SECP) has announced its intention to facilitate peer-to-peer (P2P) lending as a viable financing option for small businesses and individuals. The SECP aims to promote financial inclusion and create a connection between both lenders and borrowers by enabling easier access to alternative financing options. The move is expected to contribute to the development and availability of financial services in Pakistan.

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