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Muawin Launches Instant Financing for Micro-Retailers after SECP Approval

Muawin, an up-and-coming fintech startup in Pakistan, has announced that it has received regulatory approval for Non-Banking Microfinance Company by the Securities & Exchange Commission of Pakistan (SECP) to launch its digital lending services.

Muawin will focus on offering inventory on credit for micro-retailers, ultimately driving financial growth & empowerment for this market segment. The entity will lend primarily through its Sharia-compliant products.

Estimated at over 800,000, these small businesses face significant barriers to access credit. With no credit history, business paperwork, or available collateral – they usually source highly expensive credit through loan sharks in the market.

Muawin is founded by Ammar Afif who has spent over 20 years in Silicon Valley and Boston, successfully building, scaling, and exiting tech start-ups as a VC, PE Investor, CFO, and COO.

From Left to Right: Moeed Qamar (Co-Founder), Hashim Ali (Co-Founder), Naweed Sharif (Executive Director), Walid Ahmed (Executive Director)

He is currently on a mission to bring instant financing to the MENA region. Along with him, Muawin is co-founded by Hashim Ali and Moeed Qamar, both LUMS graduates with extensive expertise in all things Fintech.

On the development, Ammar said, “We are grateful to the SECP for the trust they have placed in our mission by granting us regulatory approval. The time has never been better for disruption in Pakistan’s credit space, especially with such a high penetration of smartphone-enabled internet access for shop-owners and gig-economy workers around the country.”

“We hope to help grow millions of small businesses through our platform. Our philosophy is simple: Financial Inclusion leads to Financial Empowerment,” he added.

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