The Securities and Exchange Commission of Pakistan (SECP) has taken a significant step in advancing the country’s digital financial ecosystem by issuing an Investment Finance Services license to Foremost Financial Services (Pvt) Ltd., authorizing the company to operate as a Non-Banking Finance Company (NBFC). In a parallel development, Instant Finance (Pvt) Ltd. has been granted prior approval to register as an NBFC under the prevailing regulatory framework.
According to the SECP, these approvals were processed swiftly, reflecting the regulator’s focus on efficiency, responsiveness, and its broader commitment to facilitating new market entrants. This move also underscores SECP’s dedication to ensuring that regulatory practices keep pace with the evolving digital finance landscape in Pakistan.
Foremost Financial Services is set to introduce digital nano-lending solutions tailored to Pakistan’s consumer market. Nano-lending, which involves providing small, short-term loans through digital platforms, has become an essential financial service in developing economies, particularly for underbanked and unbanked populations. By leveraging technology, Foremost aims to provide affordable, accessible, and fast credit solutions to individuals who may otherwise face difficulties in accessing traditional banking products.
Instant Finance, meanwhile, has outlined its strategy to focus on digital lending for Small and Medium Enterprises (SMEs). SMEs represent the backbone of Pakistan’s economy, yet access to credit has long been a hurdle for growth in this sector. With Instant Finance’s entry, the market is expected to see more innovative financing solutions that cater specifically to SMEs, enabling them to expand operations, invest in technology, and contribute more effectively to national economic activity.
The sponsors of both companies already maintain an established international presence across diverse markets including Indonesia, Mexico, and Nigeria. Their decision to bring operations to Pakistan reflects renewed investor confidence in the country’s regulated financial sector and signals a positive momentum for foreign direct investment (FDI). By admitting experienced, globally active financial service providers, SECP is encouraging knowledge transfer, technological innovation, and operational expertise that could reshape the digital finance industry in Pakistan.
This development aligns with SECP’s wider agenda of encouraging foreign institutions and reputable financial firms to participate in Pakistan’s NBFC landscape. The Commission has reiterated its commitment to building a diversified and resilient financial ecosystem by allowing structured, innovation-driven companies to enter the market. These efforts are expected to not only enhance financial inclusion but also increase competition, improve service quality, and drive efficiency across the sector.
In its statement, the Commission emphasized that promoting digital transformation and fostering financial inclusion remain its key priorities. This is being achieved through expedited licensing processes for NBFCs, capital market entities, insurance firms, and non-profit Section 42 companies. By doing so, SECP aims to create a supportive regulatory environment that encourages sustainable investment, strengthens governance, and unlocks new opportunities within Pakistan’s financial services landscape.
The approvals granted to Foremost Financial Services and Instant Finance mark another milestone in SECP’s ongoing mission to modernize financial regulation, attract international investment, and enable innovative financial solutions that support long-term economic growth. With the addition of new players in digital nano-lending and SME-focused finance, the country’s financial ecosystem is positioned for deeper transformation in the years ahead.