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Non-Banking Finance Companies are now allowed to work as P2P service Providers

The SECP (Pakistan Securities and Exchange Commission) has approved the process of Peer-to-Peer (P2P) service providers by lending/licensed NBFCs (Non-Banking Finance Companies).

The SECP issued an S.R.O.436(I)/2022 notice announcing the allotment of draft improvements to the Non-Banking Finance Companies and Notified Entities Regulations, 2008.

As per the notification, “Peer-to-Peer Lending” or “P2P Lending” refers to the extension of loans by a lender to a borrower via a P2P Lending Platform, where the Platform is an intermediary offering P2P service to the companies who have coordinated with the platform to lend or borrow money through an online medium.

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