{"id":357318,"date":"2023-09-21T09:18:35","date_gmt":"2023-09-21T04:18:35","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=357318"},"modified":"2023-09-21T09:18:35","modified_gmt":"2023-09-21T04:18:35","slug":"dr-saif-for-setting-up-vc-fund-to-support-fintech","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/dr-saif-for-setting-up-vc-fund-to-support-fintech\/","title":{"rendered":"Dr. Saif for setting up VC fund to support fintech"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nThe Federal Minister for Information Technology and Telecommunication, Dr. Umer Saif, envisaged setting up a government backed Venture Capital (VC) Fund of Fund to strengthen the startup and fintech ecosystems by providing financial support to new ventures and startups.<br \/>\nDuring his visit to the Securities and Exchange Commission of Pakistan (SECP), Dr. Saif showed a keen interest in the SECP\u2019s Regulatory Sand Box and the cutting-edge business models being considered, such as asset fractionalization.<br \/>\nAkif Saeed, Chairman SECP, presented a detailed briefing to the Federal Minister, outlining the organization\u2019s significant efforts in digitalization, innovation, regulatory support, capacity building, investment facilitation, and policy advocacy. The Chairman also informed Dr. Saif about the pioneering regulatory sandbox programme implemented by SECP to facilitate fintech, seamlessly embed technology into conventional financial services, and bring innovation to them.<br \/>\nThe SECP Commissioner Mujtaba Ahmad Lodhi, Executive Director Specialised Companies Ms Khalida Habib, CEO IGNITE Mr Mr. Asim Shahryar Husain and other senior officials were also present.<br \/>\nKhalida Habib briefed the Minister on the regulatory requirements for the formation of a government backed VC Fund of Fund and provided detailed insights for effectively establishing a well-structured VC Fund of Fund.<br \/>\nThe minister also witnessed the signing of a Memorandum of Understanding (MoU) between SECP and IGNITE, focusing on awareness sessions, regulatory compliance education, addressing challenges faced by Pakistani startups, fostering fintech innovation, and fostering investment-friendly environments. The MoU was signed by Mr. Mujtaba Ahmad Lodhi, Commissioner SECP, and Mr. Asim Shahryar Husain, Chief Executive Officer of Ignite. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD The Federal Minister for Information Technology and Telecommunication, Dr. Umer Saif, envisaged setting up a government backed Venture Capital (VC) Fund of Fund to strengthen the startup and fintech ecosystems by providing financial support to new ventures and startups. During his visit to the Securities and Exchange Commission of Pakistan (SECP), Dr. Saif showed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-357318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dr. Saif for setting up VC fund to support fintech<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/dr-saif-for-setting-up-vc-fund-to-support-fintech\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dr. Saif for setting up VC fund to support fintech\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD The Federal Minister for Information Technology and Telecommunication, Dr. Umer Saif, envisaged setting up a government backed Venture Capital (VC) Fund of Fund to strengthen the startup and fintech ecosystems by providing financial support to new ventures and startups. 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