SECP Grants BNPL License to Alibaba-Backed KTPL

SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN (SECP) PRESS RELEASE For immediate release April 14, 2026 Alibaba Enters Pakistan's Fintech Space as SECP Grants BNPL LicenseISLAMABAD, April 14: The Securities and Exchange Commission of Pakistan (SECP), has granted a license to KOKO TECH PAKISTAN (PRIVATE) LIMITED (KTPL) to operate a Buy Now Pay Later (BNPL) business in Pakistan. KTPL is ulti-mately owned by Alibaba.com Holdings. The entry of Alibaba-backed KTPL marks a significant milestone for Pakistan's digital financial ecosystem.One of world's leading e-commerce and technology companies, Alibaba's move into Pakistan reflects growing international confidence in the country's large con-sumer base, expanding digital economy, and untapped financial services market.With its advanced AI-driven credit assessment systems and globally tested digital infrastructure, KTPL is expected to introduce innovative, data-driven lending solu-tions in the BNPL space. This will enhance access to consumer financing, particu-larly for young users, freelancers, and small businesses that remain underserved by traditional banking channels.The development also represents a direct inflow of foreign investment into Paki-stan's financial sector. Backed by Alibaba's global expertise and capital strength, KTPL is well-positioned to support SMEs, boost e-commerce activity, and acceler-ate the shift towards a more inclusive, technology-led financial system.The SECP Chairman, Dr Kabir Ahmed Sidhu, said that the entry of Alibaba Group will boost competition and innovation.Dr Sidhu noted that Pakistan is an attractive destination for international invest-ment, supported by its large population, growing digital adoption, and an improving regulatory framework. Securities and Exchange Commission of Pakistan  NICL Building, 63 Jinnah Avenue, Islamabad 󲧒󰯲󴹉󳅉󲰟󲬰󴫙󰉙󱳄 󱝻 󱺔 󲚙󲹙󲧟󲣤󲎴SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN (SECP) PRESS RELEASE                   For immediate release            󲧟   󲰟󲰟󴫙 󲧟      14 󱫈󴜯󲚚  󴕻 󲧟󲰟       April 14, 2026     󲞍󲰟󲀈󴨼󲧟󴳸󲬰󲶉󲎴󲬰󲕺 󱾌󴐭󲢂󳅉 󲧟 󲰟󲰟󴳸 󲧒󰯲󴹉󳅉󲣤󲬰               󴇺󱸃󰼽󳩌󳹟󲣤󲶉󲁠󲶉 󲎴󳃯󲧒󴰉󲖥󳯏󱛋󰢓 󳯏  󲹙 󱛎󲶉            󴳸 󲕛 󴰉   󲹙󲖥󲹙󴠔 󰢓 󳯏   󲹙󴈷 󲣤 󳯏󱧎   󲧟󲶉 󲬰 󴳸                  󲟤󴏕 󰷯󴏕  󱺔 󲹙 󳯏󱛋 󰢓󳯏      󴴟 󱶿   󳯏 󲀈  󲶉 󲧟 󲣤  󳯏󱧎 󲶉  󲎴      󴠔  󲧒 󳯱  󴗳󴫧 󲐞󴀒 󰲆󰏬 󲹙  󲎴󲧟   󲰟󲰟 󴳸 󴁡 󲣤 󲋕 󲹙 󲣤  󳯏󱧎 󴐭󲢂󳅉                  󱚋󱶿󳃯󲧒󴰉󲖥󳯏󱛋󰢓󳯏󲋕󲜲󲕜 󲰟 󲀈 󲹙󲦞󱤝󴡦 󴏕󱨆󳦔󲊲 󲈴󴆼󱶿󴠔󰷯󳃯󴲅󴻆󱟽󰙋 󱲲󳪪󳯏 󲹙󲣤󰮐󱎃󴝣󳅉󲖥󴨈󰷯󴨈󲈴          󰤃 󴲅        󴗳󴁣 󲰟 󲣤 󲹙 󰾬 󴫙  󰮐󱎃 󲧟   󲰟󲰟 󳈛 󲶉 󴹾󱟽 󳪪󳯏  󰏬󱾌 󴐭󲢂󳅉   󲶉  󲎴    󳃯󲧒󲧒󴰉 󲖥󲹙󳹟󲣤 󰲆 󴈷󳃯󲧒󴰉󲖥        󳯏󴨼󲧟 󱶿󱽙󲶉 󳹟󲣤  󲼜󲎴󲰢 󴳸󲰳󲣤󴷕󱧋 󱗡 󲥋󰉙󱳄                  󴹁󴻆󴲅󴴟󰃄󲧟󲰢󲰣󴫙󴷕󱧋󲥋󲺁󴉷󲖥󲰟󰲆   󲖥    󴳸󴌒󲨶  󲹙󲣤 󳯏󱧎󴐭󲢂󳅉 󳈛󲶉 

Securities and Exchange Commission of PakistanNICL Building, 63 Jinnah Avenue, Islamabad