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The Securities and Exchange Commission of Pakistan (SECP) issued an Investment Finance Services licence to Foremost Financial Services Pvt Ltd to operate as a Non-Banking Finance Company. The Commission also granted prior permission to Instant Finance Pvt Ltd to register as an NBFC under the applicable regulatory framework. The approvals were processed swiftly by SECP as part of its effort to facilitate new market entrants.
Foremost Financial Services will provide digital nano lending services in Pakistan. Instant Finance will focus on digital lending to small and medium enterprises. The two sponsors have an international business presence in jurisdictions like Indonesia, Mexico, and Nigeria. SECP said these entries signal renewed investor confidence and a positive momentum for foreign direct investment into Pakistan’s regulated financial sector.
The move forms part of SECP’s broader agenda to attract reputable foreign institutions and to strengthen and diversify the NBFC sector. The regulator said it aims to admit innovation-oriented companies that can promote financial inclusion and digital transformation across the economy.
SECP also highlighted its capacity to process licences for NBFCs, capital market entities, insurance companies, and Section 42 companies within short turnaround times.
Officials noted that licensed NBFCs will operate under SECP’s supervisory framework and must meet capital adequacy, governance, and consumer protection requirements. The regulator will monitor compliance and will work with the State Bank of Pakistan (SBP) and other relevant authorities to ensure orderly market conduct.
The approvals were received positively in the market by market participants as a message that Pakistan is opening regulated avenues to fintech investments. Analysts expect the new licences to expand access to credit for households and MSMEs and to support the country’s digital payments ecosystem.
The SECP confirmation of timely licence processing underlines the regulator’s commitment to a clear and predictable business environment.
