ISLAMABAD – The Securities and Exchange Commission of Pakistan (SECP) has granted an Investment Finance Services license to Foremost Financial Services Private Ltd. to operate as a Non-Banking Finance Company (NBFC). Concurrently, Instant Finance Private Limited has received prior permission to register as an NBFC. The swift processing of these approvals underscores the SECP’s commitment to regulatory efficiency and market facilitation.
Revealed in a press release on Thursday Foremost Financial Services will focus on digital nano-lending, while Instant Finance will undertake digital lending for Small and Medium Enterprises (SMEs). The parent companies of these new entrants have international operations in Indonesia, Mexico, and Nigeria. These approvals are seen as a strong indicator of renewed investor confidence and a positive flow of foreign direct investment (FDI) into Pakistan’s financial sector.
The SECP views these approvals as part of a broader strategy to attract reputable foreign institutions and to strengthen and diversify the NBFC sector with innovative, well-structured companies. The Commission aims to promote financial inclusion and digital transformation by expediting licenses for NBFCs, capital market entities, and insurance companies. This regulatory efficiency is designed to facilitate sustainable investment across the country’s regulated financial services landscape.
