SECP provide relief to borrowers of Non-Bank Microfinance Sector.

ISLAMABAD -- The Security and Exchange Commission of Pakistan (SECP)'s permission to non-bank Microfinance companies (NBMFCs) to reschedule the loan portfolio not only helped NBFCs to adjust their portfolio at risk but also resulted in extending relief to 932,862 individuals and micro-enterprises who have borrowed over 17 billion rupees from non-bank Microfinance companies (NBMFCs), as reported on May 31, 2020.

Out of these, 796,893 borrowers were facilitated through deferment of principal repayments of over 13.1 billion rupees by six NBMFCs, while 135,969 borrowers benefited through rescheduling of loans of 3.9 billion rupees by four NBMFCs, said a press release issued here.

On March 31, 2020, the SECP had relaxed the regulatory...