NBFI, Modarba year book unveiled

ISLAMABAD: Securities and Exchange Commission of Pakistan Chairman Aamir Khan on Thursday unveiled the Non-Banking Financial Institutions (NBFIs) and Modaraba Association of Pakistan Year-Book for 2019.

Addressing the virtual launch ceremony, the SECP chairman said the immense potential of the NBFI and Modaraba has not been fully utilised primarily due to lack of awareness in potential segments of society. He urged the NBFI and Modaraba Association of Pakistan to expand outreach to rural areas to get a competitive edge over commercial banks. He further emphasised that the impact of information technology has revolutionised financial services sector.

“Embracing available technologies can provide huge potential for product innovation, better customer services and business growth,” Khan said, urging NBFIs and Modarabas to explore new technologies and apprise those who were not able to adapt to the digital age.