SECP Issues Digital Lending License to NBFC Operator

The Securities and Exchange Commission of Pakistan (SECP) has issued an Investment Finance Services license to Foremost Financial Services (Pvt) Ltd. to operate as a Non-Banking Finance Company (NBFC). At the same time, Instant Finance (Pvt) Ltd. was granted prior permission to register as an NBFC under the applicable regulatory framework. The swift processing of the license and prior approval reflects the SECP’s commitment to regulatory efficiency, responsiveness, and facilitation of new market entrants. Foremost Financial Services will provide digital nano-lending services in Pakistan, while Instant Finance intends to focus on digital lending for Small and Medium Enterprises (SMEs). The sponsors of these companies have an established international presence in markets such as Indonesia, Mexico, and Nigeria. Their entry into Pakistan highlights renewed investor confidence and positive momentum for foreign direct investment (FDI) in the regulated financial sector. These approvals are part of the SECP’s broader agenda to encourage reputable foreign institutions to invest in Pakistan and to strengthen and diversify the NBFC sector by admitting well-structured, innovation-driven companies. The Commission reaffirmed its commitment to promoting financial inclusion, digital transformation, and a supportive regulatory environment. This is being achieved through the expedited processing of licenses for NBFCs, capital market entities, insurance firms, and Section 42 companies, enabling sustainable investment and growth in the regulated financial services landscape.