ISLAMABAD: The Securities and Exchange Commission of Pakistan today announced a Shariah-compliant digital financing up to Rs 3 million for small businesses across Pakistan.
Under the new initiative, small business owners can access financing of up to Rs3 million through a dedicated digital application. The “Shamil Kar Tajir” app will allow businesses to secure financing for purchasing supplies from approved suppliers.
According to the SECP, the facility will help small businesses enter Pakistan’s formal credit system through a digital financing process. SECP Chairman Dr Kabir Ahmed Sidhu said digital distribution would expand financing access for businesses previously excluded from formal credit channels.
“Along with expanding digital financing, we are also ensuring consumer protection,” Sidhu said.
The regulator said the initiative forms part of broader efforts to increase financial inclusion and improve access to formal financing for small enterprises.
Meanwhile, non-banking finance companies provided Rs253 billion in financing to small businesses during the past year, according to the SECP.
The regulator said 2.5 million people received financing for small businesses during the same period.
Furthermore, the new digital facility could help businesses purchase essential supplies without relying on informal financing sources.
The SECP said digital financing can improve access to credit while maintaining safeguards for consumers.
The initiative also reflects the growing use of digital platforms to distribute financial services to underserved businesses across Pakistan. Through the new app-based model, small businesses will have a formal financing channel for purchasing supplies from approved suppliers. The facility is expected to support wider participation of small enterprises in Pakistan’s formal financial system.
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