SBP Awards Finja EMI License

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Staff Reporter

Karachi

The State Bank of Pakistan (SBP) recently granted Finja commercial approval for the EMI (Electronic Money Institution) License.

Finja had earlier become the first fintech to receive an in-principle approval for this license on April 9, 2020 from SBP.

With the approval of its EMI license, Finja becomes the only fintech in the country to hold multiple regulatory licenses, allowing it to scale it’s consumer-facing brand, the Finja App.

Finja is committed to its vision of growing technology ecosystems in Pakistan by providing access to digital payments and EMoney Wallet-based solutions through open APIs, hence contributing to the accelerating start-up sector.

Since its inception, Finja through its technology has clocked over $1.7 Billion (PKR 230 billion) in transactional volume with its assets under management growing by over 200 percent from 2020. Ventures, and HBL.

 

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