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Alibaba-backed BNPL firm gets SECP licence | The Express Tribune

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Alibaba-backed BNPL firm gets SECP licence | The Express Tribune


Koko Tech to tap in to consumer financing for youth, freelancers and small businesses


ISLAMABAD:

The Securities and Exchange Commission of Pakistan (SECP) has granted a licence to Koko Tech Pakistan (Private) Limited (KTPL) to operate a Buy Now Pay Later (BNPL) business in Pakistan, according to an official statement issued on Tuesday.

KTPL is owned by Alibaba.com Holdings, one of the world’s leading e-commerce and technology companies. The entry of Alibaba-backed KTPL marks a significant milestone for Pakistan’s digital financial ecosystem, reflecting growing international confidence in the country’s large consumer base, expanding digital economy and untapped financial services market.

With 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. This will enhance access to consumer financing, particularly for young users, freelancers and small businesses that remain underserved by traditional banking channels, which have often been reluctant to extend credit to these segments due to perceived risks and lack of formal documentation.

The development also represents a direct inflow of foreign investment into Pakistan’s financial sector, signalling that international investors are taking note of the country’s improving regulatory environment and digital adoption rates. Backed by Alibaba’s global expertise and capital strength, KTPL is well-positioned to support small and medium enterprises (SMEs), boost e-commerce activity and accelerate the shift towards a more inclusive, technology-led financial system that prioritises access over traditional collateral-based lending.

SECP Chairman Dr Kabir Ahmed Sidhu said that the entry of Alibaba Group will boost competition and innovation within Pakistan’s non-banking financial sector. He noted that Pakistan is an attractive destination for international investment, supported by its large population of over 240 million people, growing digital adoption across both urban and rural areas, and an improving regulatory framework that has been steadily modernised to accommodate new financial technologies.

The statement did not specify when KTPL would commence its BNPL operations or the expected scale of its initial rollout across the country. Following the pattern adopted by other digital lenders entering the market, the company is expected to begin with major urban centres before expanding to smaller cities.





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Lidl and Iceland ads banned under new ‘less healthy’ food rules

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Lidl and Iceland ads banned under new ‘less healthy’ food rules


Ads for supermarkets Lidl and Iceland have become the first to be banned under new rules governing “less healthy” food and drink.

The rules, which came into effect at the beginning of the year, are part of Government efforts to tackle childhood obesity by preventing ads for food and drink that is high in fat, salt and sugar (HFSS) appearing on television between 5.30am and 9pm, and online at any time.

The new ban applies to products that fall within 13 categories considered to play the most significant role in childhood obesity, including soft drinks, chocolates and sweets, pizzas and ice creams, but also breakfast cereals and porridges, sweetened bread products, and main meals and sandwiches.

Undated handout photo issued by the Advertising Standards Authority (ASA) of an Emma Kearney Lidl Instagram post. (ASA/PA Wire)

Products that fall into these categories are than also assessed as to whether they are “less healthy” based on a scoring tool that considers their nutrient levels and whether products are high in saturated fat, salt or sugar.

Only products that meet both of the two criteria are included in the restrictions.

The Advertising Standards Authority (ASA) said an Instagram post for Lidl Northern Ireland by influencer Emma Kearney featured the grocer’s cheese pretzel, which was not categorised as HFSS and therefore did not fall within the restrictions, and its Pain Suisse product, which was classified as both HFSS and a sweetened bread product and was therefore banned under the new rules.

Lidl said the ad had been removed and they had liaised with their marketing agency to ensure that all future ads complied with the new rules.

In a separate case, Iceland confirmed that two ads included a tub of Swizzles Sweet Treats, a packet of Chupa Chups Laces, a bag of Chooee Disco Stix and a bag of Haribo Elf Surprises, which were all classified as HFSS.

They also provided nutrient profile information from their supplier which confirmed that Pringles Sour Cream & Onion crisps, also included in the ads, were not an HFSS product.

Iceland’s Luxury Aberdeen Angus Beef Roasting Joint, Vegetable Spring Rolls, Sticky Chicken Skewers and Lurpak Spreadable Butter, which were also included in the ads, did not fall within the new restrictions.

(PA)

The ASA did not uphold a complaint against an Instagram post by influencer John Fisher – known to many as Big John – which featured him promoting menu items at a new German Doner Kebab outlet because the specific items shown in the ad were not classified as less healthy foods.

The watchdog also cleared a TV ad for On The Beach promoting free airport lounge access which featured a boy approaching a buffet and taking a chocolate ring doughnut.

The ASA said viewers would see the ad as showing an example of what was available in the lounge rather than for the doughnut itself, meaning it did not break the rules.

ASA chief executive Guy Parker said: “As the ad regulator, our role is to remain impartial and independent, making sure our new LHF rules, which reflect the law, are applied fairly and consistently.

“These initial rulings are an important step in building a clearer picture of how the rules are applied in reality.

“We’ll be continuing to play our role in administering and enforcing them, including by using tech-assisted proactive monitoring.”

An Iceland spokesman said: “The products highlighted were part of a bigger range in the specific display ad and were featured due to a technical fault with a data feed from a third-party supplier.

“As the ASA has pointed out, these initial rulings are helping to build a clearer picture of how the new rules are applied, following the initial confusion and debate around the regulations.”



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Crisis grants launched for struggling Bradford families

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Crisis grants launched for struggling Bradford families


At a meeting of the local authority’s executive on Tuesday, MacBeath said the scheme aimed to move beyond emergency aid by helping families become more financially “resilient”, offering advice on managing money, accessing benefits, reducing debt and finding work.



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Help to Buy mostly helped high earners, IFS says

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Help to Buy mostly helped high earners, IFS says



People with lower incomes benefitted less from the house-buying scheme than those with high incomes, the influential think tank says.



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