#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)

☪️📘🔍

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These updates reflect SECP’s proactive approach to building a transparent, secure, and inclusive financial ecosystem in Pakistan.

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