ISLAMABAD, (Gwadar Pro) – China’s tech giant Alibaba Group has formally entered Pakistan’s financial services market after the Securities and Exchange Commission of Pakistan (SECP) granted a license to Coco Tech Pakistan (Private) Limited (CTPL), its wholly owned subsidiary.
The move allows Coco Tech Pakistan to operate as a non-banking finance company, introducing “buy now, pay later” (BNPL) services in the country. This model enables consumers to make purchases online and pay in instalments, offering an alternative to traditional credit systems.
Officials say the development marks a significant milestone for Pakistan’s digital economy and reflects growing international confidence in the country’s regulatory framework. Secretary of the Special Investment Facilitation Council (SIFC), Jamil Qureshi, on Tuesday said the entry of Alibaba highlights Pakistan’s emergence as an increasingly attractive destination for global investors. He noted that Alibaba’s planned direct investment is expected to strengthen e-commerce infrastructure, expand financial inclusion through digital solutions, and create new opportunities for businesses and consumers. He added that SIFC remains committed to facilitating strategic investments by ensuring policy continuity, regulatory ease, and effective coordination among stakeholders.
The SECP, in its statement, confirmed that Alibaba will make direct investment in Pakistan as part of its expansion into the country’s fast-growing digital market. Chairman Akif Saeed said the inclusion of Alibaba would bring increased competition and innovation to the financial services sector.
