The Securities and Exchange Commission of Pakistan (SECP) has approved Shaamilkar Tajir, a digital application offering eligible small businesses Shariah-compliant financing of up to Rs3 million.
SECP-licensed Shaamilkar Financial Services developed the application to help micro-entrepreneurs purchase inventory from approved suppliers through a simpler, faster digital process.
The commission announced the approval on Friday, September 18. It said the initiative would bring underserved businesses into the formal credit system and help them expand their operations.
The approval supports the federal government’s Access to Finance agenda for small and medium enterprises and other priority sectors.
Financing for inventory purchases
Shaamilkar Tajir focuses on financing the goods businesses need to stock and sell. The Rs3 million ceiling applies to eligible businesses seeking financing through the application.
According to the company’s website, the platform uses Murabaha, a Shariah-compliant cost-plus sale structure. Under this arrangement, Shaamilkar purchases goods and sells them to the customer at a pre-agreed markup.
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The company outlines a process that starts when a trader submits a supplier’s invoice and requests financing. The supplier validates the invoice before Shaamilkar buys the goods and offers the trader financing terms.
After accepting the offer, the trader takes possession of the goods and repays Shaamilkar according to the agreement.
The model connects financing directly to inventory purchases. It gives small businesses a formal route to obtain stock while spreading payment according to agreed terms.
SECP stresses responsible digital financing
“Technology-enabled financing can expand access to formal credit for underserved businesses,” SECP Chairman Dr Kabir Ahmed Sidhu said.
He added that the commission would facilitate responsible digital financing while ensuring regulatory oversight and consumer protection.
His remarks placed access to credit and borrower safeguards at the centre of the approval. SECP presented the application as a way to reach businesses that existing financing channels do not adequately serve.
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The announcement did not specify detailed eligibility criteria, repayment periods or the applicable profit rate. It also did not identify the approved suppliers.
The company says it will disclose the financing cost, agreed markup, repayment schedule and applicable fees before customers sign an agreement. Its website identifies AlHamd Shariah Advisory Services as the supervisor of its product structures and operations.
These details distinguish the announced maximum financing limit from the individual terms that customers would receive.
NBFCs extend Rs253 billion to businesses
The approval comes alongside substantial lending by licensed non-banking finance companies, or NBFCs, to smaller enterprises.
Between July 2025 and June 2026, licensed lending NBFCs provided approximately Rs253 billion through 2.5 million loans to micro, small and medium enterprises.
Those figures cover lending across the licensed sector during the previous financial year. They do not represent disbursements through Shaamilkar Tajir.
The latest approval adds a digital, Shariah-compliant inventory-financing option to that wider market, with SECP targeting greater participation by underserved businesses.
