SECP with the approval of the federal government, has notified amendments to the Non-Banking Finance Companies (Establishment and Regulations) Rules, 2003.

.png&w=3840&q=75)
Islamabad: The Securities and Exchange Commission of Pakistan (SECP), with the approval of the federal government, has notified amendments to the Non-Banking Finance Companies (Establishment and Regulations) Rules, 2003.
According to a news release released here on Friday, the revisions, which were introduced following an in-depth stakeholder engagement process, aim to revive growth in the non-banking finance industry and make it easier to construct a modern and beneficial regulatory environment.
Moreover, it is now easier to conduct business due to the removal of redundant steps and regulations like those requiring the submission of certified copies of the memorandum, articles of association, and certificate of incorporation, the justification for choosing the proposed location of the business, statistical information, additional facts to support the application, etc.
Additionally, directors and chief executive officers are merely permitted to provide a declaration about the accuracy of information rather than longer being required to present affidavits to that effect. Additionally, because the organization no longer exists, the term "investment company" has been removed from the guidelines.
The SECP thinks that reducing licensing procedures and enacting policies to make it easier to do business are essential for the long-term viability of the NBFC industry in Pakistan.

Austria could be a turning point for Norris' F1 title charge
- 4 hours ago

Torrential rain in Islamabad, Rawalpindi
- an hour ago

Logitech says all its webcams work with Nintendo Switch 2 — save one
- 5 hours ago

Dominant on the pitch and in the stands, Palmeiras upend Brazil rivals Botafogo for CWC quarters berth
- 4 hours ago

What we're hearing in the transfer window: Liverpool turn to Hato; Arsenal to make moves?
- 4 hours ago

Alcaraz, Sinner, Sabalenka favored at Wimbledon
- 4 hours ago

Govt surges prices of petroleum products
- an hour ago

Petrol, diesel prices increase in Emirates too
- 31 minutes ago

Is Jake Paul ready for a world title fight? Who is his best option?
- 4 hours ago

Pipistrello and the Cursed Yoyo would feel right at home on your GBA
- 5 hours ago

Angels' Washington to miss remainder of season
- 4 hours ago

A nasal spray company wants to make it harder for the FTC to police health claims
- 5 hours ago