Circular 8 of 2024 – Guidelines for NBFCs Engaged in Digital Lending

The Securities and Exchange Commission of Pakistan mandates that Non-Banking Finance Companies engaged in digital lending ensure all advertisements are restricted to apps on the SECP whitelist and include prominent disclosures of loan ranges, tenors, and APRs. The guidelines prohibit misleading claims, discriminatory content, and marketing to underage consumers, while requiring specific responsible borrowing messages in all promotional materials. Additionally, NBFCs must implement strict call center management protocols, including Board-approved SOPs, prohibition of aggressive collection techniques, and mandatory data confidentiality measures for all in-house and outsourced agents.

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SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN

Specialized Companies Division
Lending & Private Fund Department

No. SC/NBFC-1-196/ /2024/ 56 March 12, 2024

Circular No. 08 of 2024

Guidelines for NBFCs engaged in Digital Lending

The Securities and Exchange Commission of Pakistan (the “Commission”) in exercise of powers conferred under sub-section (3) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984) read with regulation 28(da) of the NBFC Regulations, 2008 issues the following guidelines for the Non-Banking Finance Companies engaged in Lending.

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Lineage: In force

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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