Regulatory Alerts2020-03-31
Added · Updated
SRO 279 (I)/2020 – Amendments in the NBFCs and Notified Entities Regulations, 2008
The Securities and Exchange Commission of Pakistan amends the Non-Banking Finance Companies and Notified Entities Regulations, 2008, to define small and medium enterprises based on turnover and employee thresholds. The amendments impose new reporting timelines for NBFCs regarding director and chief executive appointments, revise deposit maturity and redemption rules, and introduce specific lending limits for unsecured finance and housing loans. Additionally, the regulations establish general provision requirements for microfinance and unsecured portfolios, mandate credit bureau checks for micro financing, and enforce enhanced consumer disclosure and grievance redressal obligations for NBFCs.
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