Islamabad, — Securities and Exchange Commission of Pakistan (SECP) has approved regulatory relaxation for Non-Banking Microfinance Companies (NBMFCs), enabling their participation in the Government of Punjab’s housing initiative, Apni Chhat Apna Ghar (ACAG). This scheme is focused on facilitating access to affordable housing for low-income households across the province.
NBMFCs play a critical role in Pakistan’s financial ecosystem by providing essential financial services to underserved populations, especially low-income households in rural and remote areas. Their services include microloans, livelihood support, and increasingly, affordable housing finance an area where traditional financial services often fall short.
By allowing NBMFCs to participate in the ACAG scheme, the SECP aims to enable their reach and effectiveness in addressing the housing needs of marginalized communities. This regulatory relaxation not only enhances the ability of NBMFCs to offer tailored, accessible financing solutions for home ownership but also strengthens SECP’s broader agenda of inclusive economic growth through expanded access to financial services.
Sohail Majeed is a Special Correspondent at The Diplomatic Insight. He has twelve plus years of experience in journalism & reporting. He covers International Affairs, Diplomacy, UN, Sports, Climate Change, Economy, Technology, and Health.
