P2P lending platform launched

The Newspaper's Staff Reporter Published December 24, 2020

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

Newspaper

Impact of high US interest rates

Defending Pakistan’s auto base

Does Pakistan need a super app?

Mujahid Hussain

Dec 24, 2020 10:57am

Very delighted

Recommend 0

Dec 24, 2020 12:25pm

The world is moving at a breakneck speed to adopt technology based solutions. However in Pakistan we only focus on using technology ether for incremental gains. Also we continue to ignore the elephant in the room which is FBR where technology can provide solutions to reduce massive corruption and facilitate tax payments. The govt should give target to each ministry to digitize 20% of their work / year thereby in 05 years a host of govt ministries can be completely digitized.

Recommend 0

Laila

Dec 24, 2020 04:00pm

That's a great initiative. Hopefully this can create or contribute to a stronger and stable economy.

Recommend 0

Branded Content

Putting better health in more hands: Reckitt Pakistan unveils Saaf Sehatmand Pakistan in partnership with Aga Khan Foundation

Powered by Dettol and Harpic, the flagship platform begins in schools to provide safe drinking water, rehabilitated toilets, handwashing facilities and hygiene education.

28 years of McDonald’s Pakistan: celebrating the local partners behind the Golden Arches

The milestone highlighted the structural evolution of the company's local procurement model.

Etihad Town Sialkot delivers Possession ahead of time

The project was delivered within just 1.5 years against a 3-year payment plan, while commercial possession had already been handed over to customers in January 2026.