SECP approves first P2P Lending Platform in its Regulatory Sandbox

News Image

By MG News | November 18, 2020 at 04:23 PM GMT+05:00

0:00

 November 18, 2020: The Securities and Exchange Commission of Pakistan (SECP) has granted approval for launch of a Peer-to-Peer (P2P) Lending Platform under the first cohort of Regulatory Sandbox to support and encourage Fintech revolution in the country.

P2P lending is an innovative alternative digital platform that connect borrowers with individual lenders, who come together to meet the borrowers' loan requirements. The P2P lending helps the borrowers give out short-term loans that enable the SMEs to scale up their business, eventually qualifying them to take bigger bank loans.

This current approval for testing and experimentation of a P2P Lending Platform by SECP is also attributed towards development of an ecosystem for SME financing to achieve higher growth prospects and to create new employment and business opportunities.

During the testing/experimentation stage, the P2P lending platform shall operate within pre-defined parameters and is subject to certain terms and conditions. Furthermore, specific eligibility criteria shall also apply on selection of each lender/borrower on the platform. These terms and conditions have been imposed to address the inherent risks involved in the operation of such platforms in the absence of a regulatory framework. However, these terms and conditions shall be reconsidered parallel to the results of the experimentation stage of the subject P2P Lending Platform. This will help the SECP devise the much needed enabling regulatory framework.

The SECP regulatory sandbox is the framework to accommodate provision of financial services that leverage new technologies. It allows FinTech firms to test their services and facilitate adoption of new technology in a live environment within the limited, well-defined scope.

Press Release

Related News

Name Price/Vol %Chg/NChg
KSE100 130,686.66
280.01M
0.26%
342.63
ALLSHR 81,305.25
897.01M
0.35%
281.26
KSE30 39,945.45
114.02M
0.09%
37.19
KMI30 190,698.05
148.61M
0.61%
1163.05
KMIALLSHR 55,074.15
495.43M
0.53%
290.50
BKTi 34,568.40
28.73M
-1.07%
-372.33
OGTi 28,739.35
22.59M
1.57%
443.29
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 110,220.00 110,525.00
110,210.00
-195.00
-0.18%
BRENT CRUDE 68.85 69.14
68.32
-0.26
-0.38%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
-0.75
-0.76%
ROTTERDAM COAL MONTHLY 108.45 109.80
108.45
-0.55
-0.50%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.16 67.18
67.00
0.16
0.24%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 03, 2025 at 10:04 PM GMT+05:00

SBP reserves rise around to $13bn


July 03, 2025 at 05:39 PM GMT+05:00

Gold price in Pakistan rises Rs800 per tola


July 03, 2025 at 05:17 PM GMT+05:00

Microsoft exits Pakistan after 25 years


July 03, 2025 at 04:43 PM GMT+05:00

Privatisation Commission approves advisors for ZTBL


July 03, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: Holding Ground



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg