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HomeUncategorizedCCP Greenlights Bank Alfalah's Acquisition of Shares in QistBazaar

CCP Greenlights Bank Alfalah’s Acquisition of Shares in QistBazaar

The Competition Commission of Pakistan (CCP) has given its nod to Bank Alfalah’s acquisition of a 7.2 percent stake in QistBazaar, a move that marks the entry of the financial institution into the “Buy Now Pay Later Service” consumer market.

The assessment concluded that the acquisition would not lead to post-transaction dominance, leading to CCP’s approval under the Competition Act, 2010, and CCP’s Merger Regulations, 2016.

QistBazaar operates in the online market, providing white goods, electronics, and home goods on a “buy now pay later” basis, offering significant relief for those grappling with financial constraints amid the current economic inflation. With the infusion of funds from Bank Alfalah, QistBazaar is poised to enhance its services and bolster its infrastructure, creating a more robust online marketplace for consumers and fostering healthy competition among regional retailers, ultimately improving consumer experiences.

CCP emphasized its commitment to promoting competition and eliminating hurdles across various sectors of the economy in its statement.

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