Pakistan’s digital economy has taken a significant step forward as global e-commerce giant Alibaba Group officially expands its footprint in the country.
The move comes after the Securities and Exchange Commission of Pakistan issued a license to its subsidiary Coco Tech Pakistan.
The development is expected to enable easy installment-based shopping for consumers across e-commerce platforms.
SECP issues license to Cocotech Pakistan
The Securities and Exchange Commission of Pakistan has granted a non-banking finance company (NBFC) license to Coco Tech Pakistan, marking a key regulatory approval for Alibaba’s subsidiary in the country.
According to official details, Coco Tech Pakistan operates under the umbrella of Alibaba Group and will now be able to facilitate financial services linked with e-commerce purchases.
This includes enabling customers to buy products through easy installment plans, making online shopping more accessible for a wider consumer base.
Alibaba’s expansion into Pakistan
With this development, Alibaba Group has officially entered Pakistan’s financial services-linked e-commerce space through its subsidiary structure.
Officials say the move reflects growing investor confidence in Pakistan’s large consumer market, which continues to attract global technology and finance companies.
The SECP also highlighted that Alibaba is expected to make direct investments in Pakistan as part of its expansion strategy.
