Web Desk: Global e-commerce giant Alibaba Group secured a foothold in the Pakistani market after the Securities and Exchange Commission of Pakistan (SECP) issued a specialized license to its subsidiary, CocoTik Pakistan.
The regulatory body announced on Tuesday that CocoTik Pakistan received a Non-Banking Finance Company (NBFC) license. This authorization allows the company to introduce “Buy Now, Pay Later” (BNPL) services, enabling Pakistani consumers to purchase goods from e-commerce platforms through flexible installment plans.
Beyond digital lending, the SECP confirmed that Alibaba intends to facilitate direct foreign investment into the country through this new venture. This move signals a significant expansion for the Chinese conglomerate in South Asia’s rapidly growing digital landscape.
Chairman of the SECP, Dr. Kabir Ahmed Sidhu, highlighted that Pakistan’s massive consumer market and its burgeoning digital economy remain highly attractive to international investors. He noted that the financial services sector, in particular, offers vast untapped opportunities for global players.
The chairman further explained that the entry of a major player like Alibaba will likely improve access to credit for youth, freelancers, and small business owners. Moreover, the presence of an international tech leader is expected to drive competition and spark innovation within the domestic fintech sector.
By integrating advanced digital payment solutions, Alibaba aims to streamline the online shopping experience for millions of Pakistanis. Consequently, industry experts anticipate that this development will accelerate the overall growth of the country’s digital and financial ecosystems.
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