Securities and Exchange Commission of Pakistan (SECP) Commissioner Imtiaz Haider attended AMC-X 2026, the Annual Microfinance Conference, where he delivered a keynote address titled “Pathways for Inclusive Growth: Unlocking Synergies.” His address focused on measures aimed at supporting the development of Pakistan’s microfinance sector and expanding access to financial services for underserved segments of the population.
During the conference, Imtiaz Haider outlined several recent and proposed regulatory measures by SECP intended to create greater opportunities for microfinance institutions and non-bank financial companies. Among the measures highlighted was a proposed increase in the loan limit for Non-Bank Microfinance Companies (NBMFCs) to Rs. 5 million. The proposed change would raise the financing ceiling available through eligible institutions and could provide greater scope for borrowers requiring larger amounts of financing for their economic activities.
The SECP Commissioner also highlighted the eligibility of Lending Non-Banking Finance Companies (NBFCs) under the Wazir-e-Azam Apna Ghar Program. Bringing lending NBFCs into the programme’s eligibility framework could expand the range of financial institutions participating in housing finance initiatives. The measure was presented as part of broader efforts to develop financing channels and increase access to financial products through institutions operating outside the conventional banking sector.
Another reform highlighted during the keynote was mandatory reporting to credit bureaus. Credit bureau reporting can provide lenders with more comprehensive information about borrowers’ existing credit obligations and repayment histories. For the microfinance sector, the availability of more structured credit information can support lending decisions and contribute to the development of a more organised credit ecosystem. The requirement also forms part of efforts to strengthen information-sharing mechanisms within the non-bank financial sector.
Haider further discussed the introduction of Credit Guarantee Institutions as a new category of Non-Banking Finance Companies. Credit guarantee mechanisms can support lending by providing additional assurance to financial institutions when extending financing to eligible borrowers. The creation of a dedicated NBFC category for such institutions represents another component of the regulatory framework being developed around financing and risk-sharing within the financial sector.
The Commissioner also called attention to greater co-lending between banks and NBFCs. Bank-NBFC co-lending can bring together the funding capacity of banks and the specialised reach or customer segments of non-bank financial institutions. Such arrangements can potentially broaden financing access while allowing participating institutions to use complementary capabilities. The issue was discussed within the wider context of developing stronger connections between different parts of Pakistan’s financial system.
Diversification of financial products was another area highlighted at the conference. Haider emphasised products such as microinsurance and Shariah-compliant finance, which can address different financial requirements among underserved communities. Microinsurance can provide protection against specific financial risks, while Shariah-compliant products can serve customers seeking financing and financial services structured according to Islamic principles.
The keynote also addressed climate resilience and women’s financial inclusion. Climate-related risks can have significant effects on households, farmers and small businesses that depend on weather-sensitive economic activities. Building greater resilience into financial services can therefore support customers exposed to such risks. At the same time, expanding women’s access to financial services remains an important component of broader financial inclusion efforts, particularly where women face barriers to formal banking and financing.
Haider also highlighted the proposed establishment of a self-regulatory organisation for the NBMFC sector. A self-regulatory structure could provide the sector with an additional mechanism for developing standards and supporting responsible industry practices within the regulatory framework. The proposal was presented alongside the other measures aimed at strengthening the institutional structure of the microfinance industry.
The discussions at AMC-X 2026 reflect SECP’s focus on developing the microfinance and wider non-bank financial sector through regulatory reforms, new financing mechanisms and greater collaboration among financial institutions. The measures highlighted by the Commissioner cover lending limits, housing finance participation, credit information, guarantees, co-lending and product diversification, alongside issues such as climate resilience and women’s financial inclusion.
The conference provided a platform for outlining these priorities as Pakistan’s financial sector continues to explore ways to extend formal financial services to underserved groups. The reforms and initiatives discussed by SECP are aimed at creating additional channels for financing while strengthening the structure of the microfinance sector. Through these measures, the regulator is seeking to support the sector’s capacity to serve households, businesses and other segments requiring greater access to financial services.