RegAlert2025-11-14
Added · Updated
Amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008
The Securities and Exchange Commission of Pakistan amends the Non-Banking Finance Companies and Notified Entities Regulations, 2008, to introduce definitions for Buy Now Pay Later (BNPL), Nano Loans, and Qualified Financial Institutions, while updating the definition of Microenterprises. The amendments revise exposure limits for NBFCs, capping single-person exposure at 20% of equity and group exposure at 25%, with specific provisions for credit guarantee institutions and non-deposit taking NBFCs. New requirements are established for Peer-to-Peer (P2P) lending platforms, including exposure caps for lenders and borrowers, mandatory platform contingent funds, and strict risk disclosure obligations. Additionally, the regulations update minimum equity requirements for non-deposit taking NBFCs and impose digital lending compliance standards, including grievance redressal and website maintenance.
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PART II
Statutory Notifications (S. R. O.)
GOVERNMENT OF PAKISTAN
Securities and Exchange Commission of Pakistan NOTIFICATION Islamabad, November 11, 2025 S.R.O.2120(I)/2025.- In exercise of the powers conferred by sub-section (2) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984), the Securities and Exchange Commission of Pakistan is pleased to make the following amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008, and the same having been previously published in official Gazette vide S.R.O 1103(I)/2025, dated June 5th 2025, namely:- AMENDMENTS In the aforesaid Regulations, - (1) in regulation 2, in sub-regulation (1), - (i) after clause (i), the following new clause shall be inserted, namely: - “(ia) “Buy Now Pay Later (BNPL)” means a buy now pay later arrangement, or a series of arrangements (a) under which a person (the merchant) supplies good or services to another person (the consumer); (b) under which a third person (the BNPL provider) directly or indirectly pays the merchant an amount that is for the supply mentioned in paragraph (a); and (c) that includes a contract between the BNPL provider and the consumer under which the BNPL provider provides finance to the consumer in connection with the supply mentioned in sub-clause (a);” (ii) for clause (iii), the following shall be substituted, namely: - “(iii) Borrower” means a person who has obtained Finance from a lending
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Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works