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SECP approves up to Rs3mn digital financing for small businesses
The Securities and Exchange Commission of Pakistan (SECP) has approved Shaamilkar Tajir, a digital application offering Shariah-compliant financing of up to Rs3 million to eligible small businesses. Developed by SECP-licensed Shaamilkar Financial Services, the application will enable micro-entrepreneurs to purchase inventory from approved suppliers through a simpler and faster digital process. The initiative aims to bring underserved businesses into the formal credit system and help them expand their operations, SECP said on Friday. Digital payments gaining momentum “Technology-enabled financi...
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