ISLAMABAD: With a view to provide micro loans to small merchants and traders though a regulated regime the first peer-to-peer (P2P) lending platform was launched on Wednesday.

Addressing the launching ceremony, Securities and Exchange Commission of Pakistan chairman Aamir Khan said serving the micro small and medium enterprises (MSMEs) was a priority as they play a vital role in the economic development of the country.

Finja Lending Services, a venture capital falling in the category of non-banking financial company, focuses to provide digital credit to MSMEs and the people that they employ.

The company has digitally processed loans worth around $10 million to MSMEs and their employees, using their proprietary machine learning and artificial intelligence led algorithms and analytics.

Published in Dawn, December 24th, 2020