Regulatory Alerts2025-03-05
Added · Updated
Circular No. 4 of 2025- Gender Sensitized Training Requirement for Non-Banking Microfinance Companies
Non-Banking Microfinance Companies must ensure that all board members, senior management, and staff receive gender sensitization training within three years of the circular's issuance. This mandate applies to all personnel within the governance and operational structures of these entities to foster an equitable organizational culture. The requirement takes effect immediately, and non-compliance triggers the penal provisions of section 282J of the Companies Ordinance, 1984.
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Specialized Companies Division Lending & Private Fund Department
No. SC/NBFC-1-196/Circular/2025/255
January 31, 2025
Circular No. 4 of 2025
Subject: Gender Sensitized Training Requirement for Non-Banking Microfinance Companies
The Securities and Exchange Commission of Pakistan in exercise of powers conferred under sub-section (3) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984), hereby mandates all Non-Banking Microfinance Companies (NBMFCs) to enhance gender sensitivity within their governance frameworks.
NBMFCs must equip members of their Board of Directors, management, and staff with a comprehensive understanding of gender dynamics and inclusivity thereby fostering an equitable and inclusive organizational culture. NBMFCs must ensure that all member of the board, senior management and staff receive gender sensitization training within three years from the issuance of this circular.
This Circular shall come into force immediately and any non-compliance shall attract the penal provisions of section 282J of the Companies Ordinance, 1984 (XLVII of 1984).
(Zeeshan Rehman Khattak)
Commissioner (SCD)
Distribution:
- Chief Executive Officers of All Non-Banking Microfinance Finance Companies
- Chief Executive Officer, Pakistan Microfinance Network