SECP grants license to Alibaba’s KOKO Tech Pakistan

The Securities and Exchange Commission of Pakistan (SECP) granted on Tuesday a license to Alibaba Holdings’s KOKO Tech Pakistan (private) Limited (KTPL) to operate a Buy Now Pay Later (BNPL) business in Pakistan.

With its advanced AI-driven credit assessment systems and globally tested digital infrastructure, KTPL is expected to introduce innovative, data-driven lending solutions in the BNPL space, as per a press release.

“This will enhance access to consumer financing, particularly for young users, freelancers, and small businesses that remain underserved by traditional banking channels.”

Backed by Alibaba’s global expertise and capital strength, KTPL is well-positioned to support SMEs, boost e-commerce activity, and accelerate the shift towards a more inclusive, technology-led financial system.

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This development will represent a direct inflow of foreign investment into Pakistan’s financial sector, added the statement.

“The entry of Alibaba Group will boost competition and innovation,” said SECP Chairman, Dr Kabir Ahmed Sidhu.

Pakistan is an attractive destination for international investment, supported by its large population, growing digital adoption, and an improving regulatory framework.”