Islamabad, February 07, 2022 (PPI-OT):The SECP licensed digital lending Non-Bank Finance Companies (NBFCs) made rapid progress and started to show disruption in Pakistan’s lending landscape and are proving to be significant in furthering the journey of financial inclusion.
The SECP has licensed six fintech-enabled NBFCs, which have collectively reached out to 365,239 borrowers with disbursement of over Rs. 6,139 million through 858,998 loans.
Fintech Enable NBFCs – Lending
Year Ended Dec 31 – No of Loans Disbursed (Cumulative) – No of Borrowers (Cumulative) – Amount Disbursed (Cumulative) (In million Rupees) – No of Licensed Entities
2021 – 839,281 – 365,239 – 6,139 – 6
2020 – 179,798 – 71,941 – 1,087 – 2
2019 – 129,266 – 55,528- 495 – 1
Percentage Change 2019 to 2021 – 649% – 656% – 656%
The average loans size of these digitally enabled NBFCs ranges from Rs. 1,000 to Rs. 80,000 depending upon the nature of business and target market of these entities.
All of these licenses have been issued during the last three years, to NBFCs that are engaged in digital lending using innovative fintech solutions. There is also a healthy pipeline of fresh applications for NBFC license from investors who intend to engage in fintech based lending.
Newly licensed digital lending NBFCs include Finja Lending Services Limited, SeedCred Financial Services Limited, Qisstpay BNPL Limited, Tez Financial Services Limited, Cashew Financial Services Limited and Credit Fix Financial Services Limited.
These NBFCs are providing financial solutions to otherwise unserved and underserved through digital means and include Nano lending, Peer-to-Peer (P2P) Lending and Buy Now-Pay-Later models etc. The SECP remained focused on regulatory reforms and ease of doing business to encourage innovative business models and promote financial inclusion.
For more information, contact:
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +92-51-9214005 or +92-51-9214009 (Ext. 378)
Fax: +92-51-9206459
Cell: +92-302-8552254
E-mail: shakil.chaudhary@secp.gov.pk
Website: www.secp.gov.pk