The Securities and Exchange Commission of Pakistan (SECP) has released guidelines for non-banking financial companies (NBFCs) engaged in digital lending, aiming to ensure the adoption of best practices in advertisements and call center management.
These guidelines emphasize borrower protection and aim to curb deceptive marketing tactics and unethical practices within call centers.
NBFCs licensed by the SECP extensively promote their loan products across various social media platforms. Call center infrastructure, whether internally managed or outsourced, plays a crucial role for digital lending NBFCs, handling verification processes, recovery collection, and customer services. Consequently, call centers have become indispensable components of their operational framework.
Recognizing the importance of responsible and ethical marketing strategies along with call center operations, the SECP underscores the necessity for NBFCs to prioritize transparency and honesty in their advertising endeavors. These standards should also extend to the operations of their call centers. The guidelines provided by SECP are aimed at assisting NBFCs in adopting best practices in both advertising and call center management, ensuring the protection of borrowers.
All NBFCs engaged in digital lending must strictly follow these guidelines for marketing across various channels, including influencer collaborations and content creation, as well as call center services, whether managed internally or outsourced. You can access the complete set of guidelines through the SECP’s official website.
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