SECP eases rules for Apna Ghar loans

July 04, 2026 (MLN): The Securities and Exchange Commission of Pakistan has relaxed certain regulatory requirements to facilitate the participation of Non-Banking Microfinance Companies (NBMFCs) and Housing Finance Companies (HFCs) in the Prime Minister's Apna Ghar Programme (PM-APG).

The relaxation, issued as Circular No. 16 of 2026 (No. SC/NBFC-1-196/Circular/2024/388) dated July 1, 2026, has been issued in exercise of powers conferred under Section 282B(3) of the Companies Ordinance, 1984 read with Regulation 67A of the Non-Banking Finance Companies and Notified Entities Regulations, 2008.

Under the circular, the requirements prescribed under Regulation 17(3)(a) of the Regulations for NBMFCs, and Regulations 28(e)(ii), 28(e)(iv) and 28(e)(vii) for HFCs, have been relaxed.

The relaxation applies exclusively to loans provided under the PM-APG Programme. Revised requirements pertaining to the aforementioned regulations have been provided under Circular No. 15 of 2026, also dated July 1, 2026.

The circular has been issued by Imtiaz Haider, Commissioner, Specialized Companies Division, and has been circulated to chief executive officers of all lending non-banking finance companies, the Pakistan Microfinance Network, the NBFI & Modaraba Association of Pakistan, and the Pakistan Fintech Network.

The development follows SECP's broader move to open up housing finance under the PM-APG scheme to non-banking companies, under which non-banking housing finance and investment finance companies will be able to provide loans of up to Rs10m, while microfinance companies will be able to extend loans of up to Rs5m.

Citizens without conventional bank accounts will also be able to access housing finance on easy terms, with loans available at a profit rate of 5% for the first 10 years.

SECP has noted that NBFCs' network extends to digital and remote, underserved areas, and that these companies will also be able to provide loans in partnership with banks and other financial institutions.

Copyright Mettis Link News