Pakistan’s Securities and Exchange Commission (SECP) reportedly granted Koko Tech Pakistan Private Limited a license to operate a buy now, pay later (BNPL) business on April 14, 2026. The announcement signals authorization for a planned service—not proof that consumers can use it now or that its fees, repayment dates, eligibility rules, or merchant network have been set out publicly.
What SECP approved
On April 14, 2026, the Ministry of Information Technology and Telecommunication said SECP had licensed “Cocotech PK” to introduce BNPL services. The ministry’s post describes the company as linked to Alibaba. Dawn reported the licensee’s name as Koko Tech Pakistan Private Limited and said the approval was for an NBFC/BNPL business. The Paypers reported the license on April 17, 2026, describing the licensee as a wholly owned Alibaba Group subsidiary. The names and ownership descriptions differ across these accounts, so “Alibaba-linked” is the cautious summary.
The reports describe BNPL as a way to buy goods through e-commerce platforms and pay in installments instead of paying the full price upfront. They do not include the license instrument or its detailed conditions. The approval is therefore an authorization announcement, not a consumer offer with published terms.
What the planned service may include
SECP’s announcement, as reported by Dawn and The Paypers, said the company was expected to use AI-driven credit assessment and data-driven lending solutions. It identified young users, freelancers, and small businesses as intended beneficiaries. These are stated plans and aims; the reports do not establish that the features are operating or that those groups have already benefited.
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Dawn quoted SECP Chairman Dr Kabir Ahmed Sidhu as saying, “The entry of Alibaba Group will boost competition and innovation.” This is the regulator chairman’s expectation, not a measured outcome. The same report reproduced the SECP press release’s view that Alibaba’s move reflected growing international confidence in Pakistan’s consumer base, digital economy, and financial-services market; that is the regulator’s characterization, not independent evidence of market impact.
What consumers still need to know
The cited announcement coverage does not confirm whether CocoTech’s service has launched. It also does not report the following consumer-facing details:
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- Which merchants or platforms will accept it
- Installment amounts, repayment dates, or the total repayment schedule
- Interest, fees, late charges, or other costs
- Eligibility rules, credit checks, or application requirements
- A public launch date or service availability
Until the company or regulator publishes those details, consumers cannot use the license announcement to determine the cost of borrowing or whether the service is available to them. A BNPL license alone does not establish that a particular offer is free of fees or interest, accepted widely, or accessible to every group named as an intended beneficiary.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Does this mean CocoTech BNPL is Shariah-compliant?
No such conclusion follows from the reported license. SECP separately said in a September 6, 2023 press release that it had issued a Shariah compliance certificate to Qist Bazaar for a BNPL structure based on Musawamah, with the profit margin included in the sale price. That announcement concerns Qist Bazaar, not CocoTech, and does not establish CocoTech’s structure or Shariah status. SECP’s Qist Bazaar announcement.
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