The approval of Pakistan’s first peer-to-peer (P2P) lending service provider by the Securities and Exchange Commission (SECP) represents a significant step forward in fostering innovation and safeguarding consumers and investors.
With the establishment of “Finja Invest” as the nation’s first-ever P2P service provider platform, Pakistan’s financial sector has accomplished a key milestone. The Securities and Exchange Commission of Pakistan (SECP) has released a press release noting the platform’s introduction, which is anticipated to support the country’s digital transformation and the long-term growth of the financial industry. The SECP has praised Finja Invest’s development as an important step toward boosting financial inclusion and offering creative answers to the nation’s financial problems.
After extensive testing in the regulatory sandbox, Finja Lending Services Limited (FLSL) has successfully acquired approval from the Securities and Exchange Commission of Pakistan (SECP). The service provider was examined as part of a recent evaluation process to check compliance with legal requirements, risk management protocols, privacy protections, and general operational performance.
The Securities and Exchange Commission of Pakistan (SECP) has said that it intends to support peer-to-peer (P2P) lending as a viable source of capital for people and small businesses. By making alternative financing choices more accessible, the SECP seeks to advance financial inclusion and forge a bond between lenders and borrowers. The action is anticipated to support the growth and accessibility of financial services in Pakistan.