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The non-banking financial institutions in perspective of economic growth of Pakistan

ABSTRACT Globally, Non-banking Financial Institutions (NBFIs) are considered as an important source of financing to the underserved markets such as micro, small and medium enterprises. The purpose of the study is to ascertain the contribution of the NBFIs sector of Pakistan for the micro, small and medium enterprises and agriculture sector growth with the perspective of economic development of the country. Regression and Pearson’s correlation techniques are adopted to analyse the financial performance of NBFIs extend the effective benefit to the shareholders and investors to expand business operations and NBFIs asset-based financing to the SME sector and the SMEs contribution to the GDP of Pakistan. Additionally, a sample independent t-test is conducted to find out the difference between the NBFIs total lease disbursement and SME lease financing to SMEs. However, there is a positive connection between NBFI’s asset-based financing to the SME sector and the SME’s contribution to the economic growth of Pakistan. The study recommends NBFI’s operational scale should be expanded to semi-urban and rural areas of Pakistan.