Regulatory Alerts2025-05-23
Added · Updated
Circular 12 of 2025
Non-Banking Microfinance Companies (NBMFCs) are exempted from the requirement under Regulation 32(2)(c) of the Non-Banking Finance Companies and Notified Entities Regulations, 2008 to participate in the Apni Chaat Apna Ghar (ACAG) scheme. This relaxation applies exclusively to loans obtained from the Government of Punjab for disbursement under the ACAG scheme, which provides Shariah-compliant, interest-free financing to low-income individuals in Punjab. The exemption is granted under section 282B(3) of the Companies Ordinance, 1984, read with Regulation 67A of the 2008 Regulations.
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN SPECIALIZED COMPANIES DIVISION LENDING & PF DEPARTMENT
No. SC/NBFC-1-196/Circular /2025/ 282 May 20, 2025
Circular No. 12 of 2025
Subject: Relaxation Allowed for participation in Apni Chaat Apna Ghar Scheme to Non-Banking Microfinance Companies Under Regulation 67A of the Non-Banking Finance Companies and Notified Entities Regulations, 2008
The Securities and Exchange Commission of Pakistan, in exercise of powers conferred under section 282B(3) of the Companies Ordinance, 1984 (XLVII of 1984) read with Regulation 67A of the Non-Banking Finance Companies and Notified Entities Regulations, 2008 (“the Regulations”), hereby exempts Non-Banking Microfinance Companies (NBMFCs) from the requirement under Regulation 32(2)(c) of the Regulations for participating in Apni Chaat Apna Ghar (“ACAG”) scheme by the Government of Punjab.
The above relaxation applies exclusively to loans obtained from the Government of Punjab by NBMFCs for disbursement under the ACAG scheme aimed at providing Shariah-compliant, interest-free financing to low-income individuals across Punjab.
(Zaeshan Rahman Khattak) Commissioner (SCD)
Distribution
- Chief Executive officers of All Non-Banking Microfinance companies
- Pakistan Microfinance Network