SECP approves digital financing of up to PKR3 million for small businesses
Shariah-compliant facility will allow businesses to apply digitally and buy supplies from approved suppliers
Pakistan’s Securities and Exchange Commission has approved a Shariah-compliant digital financing facility that will allow small business owners to access up to PKR3 million through a digital application, the regulator said Friday.
The financing will be offered through the “Shamil Kar Tajir” digital application, enabling small businesses to obtain funds to purchase supplies from approved suppliers, according to the Securities and Exchange Commission of Pakistan, or SECP.
The regulator said the initiative is intended to bring small businesses with limited access to financing into the formal credit system and expand financial inclusion through technology-based channels.
SECP Chairman Dr. Kabir Ahmad Sidhu said digital distribution could help extend financing to businesses that have traditionally been underserved by formal financial institutions.
“We are not only expanding digital financing but also ensuring consumer protection,” Sidhu said.
According to the SECP, non-bank financial companies provided PKR253 billion in financing to small businesses over the past year. About 2.5 million people received small-business financing during the same period, the regulator said.
The commission said the new digital facility would make formal financing more accessible to small businesses while providing a Shariah-compliant option through digital channels.
