RegAlert2023-09-01
Added · Updated
Circular 12 of 2023: Licensing and Allied Applications with Sponsors/Directors as Foreign Individuals/Entities
Applications for Non-Banking Finance Company licenses must specify the exact category of investment finance service, including detailed sub-categories for microfinance. Licenses or board/shareholder changes for companies with foreign sponsors, directors, or shareholders require prior security clearance from the Ministry of Interior. These requirements apply to all pending and future applications under the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003, effective immediately.
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SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN LICENSING & REGISTRATION DIVISION (L&RD) LICENSING DEPARTMENT
No. LRD/LD/Circular / 34 /2003
CIRCULAR NO 12 OF 2023
Islamabad, August 31, 2023
SUBJECT: LICENSING AND ALLIED APPLICATIONS WITH SPONSORS/DIRECTORS AS FOREIGN INDIVIDUALS/ENTITIES
In exercise of powers conferred by Section 282B (3) of Part VIIIA of the Companies Ordinance, 1984 (XLVII of 1984), (the Ordinance), the Securities and Exchange Commission of Pakistan (“the Commission”) in order to effectively discharge the licensing of Non-Banking Finance Companies (NBFCs), is hereby pleased to direct that;
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Lineage: Amended
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Amended 1 time · last 2026-06-03
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
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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.