#SECGuidance Latest Updates from SECP (#SECGuidance)
1. Consumer Protection for Microfinance
The SECP issued new principles for Non-Banking Microfinance Companies (NBMFCs) to enhance borrower transparency and rights.
Key Fact Statements (KFS) for loans
Clear fee disclosures
Grievance redressal systems
Multilingual, accessible loan information
(Empowerment, Fairness)
📄🤝📢
2. Women Empowerment & Gender Inclusion
SECP now requires:
Gender-disaggregated data reporting
Gender sensitization training for microfinance teams
Aimed at increasing financial inclusion and respectful client engagement.
(Equality, Inclusion)
♀️📊📚
3. Guidelines for Digital Lending
SECP issued ethical guidelines for NBFCs in digital lending:
Transparent and honest advertising
Ethical call center operations
Oversight of influencer marketing
(Digital Safety, Transparency)
💻📱✅
4. Cybersecurity in Insurance Sector
New framework to combat cyber risks includes:
Appointment of a Chief Information Security Officer (CISO)
Encouragement of cyber risk insurance
Strengthened cyber defense systems
(Data Protection, Risk Management)
🛡️🔐📉
5. Shariah Governance Framework 2023
Introduced to support Islamic finance:
Consolidates prior Shariah regulations
Voluntary Shariah Supervisory Boards
Stricter advisor qualifications
(Faith-Based Finance, Compliance)
☪️📘🔍
---
These updates reflect SECP’s proactive approach to building a transparent, secure, and inclusive financial ecosystem in Pakistan.
🇵🇰💼✨