Pakistan's Securities and Exchange Commission (SECP) has granted a buy-now-pay-later (BNPL) licence to Koko Tech Pakistan, a fintech firm backed by Chinese e-commerce giant Alibaba. The approval marks one of the first major Chinese technology investments in Pakistan's consumer lending space, with the platform expected to use AI-driven credit assessments to extend financing to young users, freelancers, and small businesses underserved by traditional banks. The SECP said the move signals growing international confidence in Pakistan's large consumer base and expanding digital economy.