The Securities and Exchange Commission of Pakistan (SECP) has issued a procedural guide on the formation and licensing of non-banking finance companies (NBFCs).
According to a statement released on Thursday, the move is aimed at facilitation of prospective investors belonging to the non-banking finance sector and the guide has been released as part of the SECP’s objective to promote ease of doing business.
“Available on the SECP’s website, this guidebook provides comprehensive information on the procedure for formation, incorporation and licensing of NBFCs,” it said. The guide also includes applicable fees, important prerequisites, reference to relevant legal provisions, forms and formats.
The guide covers the applicable requirements for the formation and licensing of fund management NBFCs.
Published in The Express Tribune, December 31st, 2021.
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