Non-bank finance companies can now play a bigger role in providing affordable home loans under the government’s flagship housing scheme.
ISLAMABAD, July 4, 2026: The Securities and Exchange Commission of Pakistan (SECP) has relaxed key regulatory requirements for Non-Banking Microfinance Companies (NBMFCs) and Housing Finance Companies (HFCs) to encourage their participation in the Prime Minister’s Apna Ghar Programme (PM-APG), aiming to broaden access to affordable housing finance across the country.
The regulatory relief was granted through Circular No. 16 of 2026, issued on July 1, 2026, under the powers conferred by Section 282B(3) of the Companies Ordinance, 1984, read with Regulation 67A of the Non-Banking Finance Companies and Notified Entities Regulations, 2008.
According to the circular, the SECP has relaxed the requirements contained in Regulation 17(3)(a) for Non-Banking Microfinance Companies, along with Regulations 28(e)(ii), 28(e)(iv) and 28(e)(vii) applicable to Housing Finance Companies.
The commission clarified that the regulatory relaxations apply exclusively to financing extended under the Prime Minister’s Apna Ghar Programme. The revised framework has been outlined in Circular No. 15 of 2026, which was also issued on July 1.
The circular was signed by Imtiaz Haider, Commissioner of the Specialised Companies Division, and circulated to the chief executives of all lending non-banking finance companies, the Pakistan Microfinance Network, the NBFI & Modaraba Association of Pakistan, and the Pakistan Fintech Network.
Wider role for non-bank lenders
The latest regulatory changes form part of the SECP’s broader initiative to enable non-bank financial institutions to participate more actively in the government’s flagship affordable housing scheme.
Under the revised framework, non-banking housing finance companies and investment finance companies will be permitted to provide housing loans of up to Rs10 million, while Non-Banking Microfinance Companies will be authorised to extend loans of up to Rs5 million.
The revised rules also allow individuals without conventional bank accounts to qualify for housing finance, significantly expanding access to the scheme.
Eligible borrowers will be able to obtain financing at a concessionary profit rate of 5 per cent for the first 10 years, making home ownership more affordable for low- and middle-income households.
Boosting financial inclusion
The SECP said non-bank finance companies have established extensive digital networks and operations in underserved and remote areas, placing them in a strong position to reach communities that traditionally have limited access to formal banking services.
Under the updated framework, these institutions may provide housing finance independently or in collaboration with banks and other financial institutions, helping to widen the reach of the Prime Minister’s Apna Ghar Programme.
The regulator said the initiative is expected to strengthen financial inclusion, improve access to affordable home financing, and support the government’s objective of increasing home ownership by developing a more diversified and inclusive housing finance ecosystem.