In a recent development, the Fintech company, Finja has been granted the Electronic Money Institution (EMI) license from The State Bank of Pakistan (SBP). It wasn’t long ago that Finja was given an in-an-principle approval for this license but the central bank in 2020. The approval of this license has made Finja stand out as the only fintech company to have multiple regulatory licenses which have also helped it scale its application.
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The company has been steadily growing since its inception and has immensely contributed to the technology ecosystem in Pakistan. Finja has provided smooth access to digital payments, and E-Money Wallets which have immensely helped the start-up sector.
Finja also possesses a Non-Banking Finance Corporation (NBFC) License granted by the Securities & Exchange Commission of Pakistan. With this license and an EMI from SBP, Finja has managed to stand out as Pakistan’s only platform to provide a huge range of solutions to SME’s and to those people who they employ. Since its launch in 2020 Finja has managed to grow its assets by over 200%. The company has also been able to disburse 50, 000 loans to 10, 000 businesses all over Pakistan!
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