The Securities and Exchange Commission of Pakistan (SECP) has permitted live testing of their innovative business model to nine applicants of Regulatory Sandbox.
The application has successfully completed its incubation period. The selected entities have been employing blockchain, AI, and other technology-based solutions for gold and real estate fractionalization, algorithmic trading, one-window SME lending, education finance, and crowdfunding. The entities will offer financial services to a limited customer base over the next few months.
In September 2023, the SECP permitted ten applicants to enter the incubation phase of the RSB to test their distinct business models. These included including M/s FINCLUDE Systems Pvt Ltd, M/s LOOP Financial Services Ltd, M/s AKRU Pak Pvt. Ltd, M/s CG Global Pvt Ltd, M/s Xstate Technologies Pvt Ltd, M/s Diamond Technologies (SMC Pvt) Ltd, M/s QuantreePvt Ltd, M/s Reals, M/s Al-Hilal Securities Advisors Pvt Ltd, and M/s ibox 7 Pvt Ltd. Out of the eleven business models, nine have successfully completed the incubation phase and begun testing.
