Such entities may not require a banking license but they need to be regulated similar to how such activities are regulated for a bank. Financial services are among the most regulated industries, if not the most regulated.
Reforms, both of incentive and administrative regime, have helped Pakistan to improve its ranking in the Survey conducted by the World Bank on ‘Doing Business in 2007.’ Pakistan now ranks 51 in the time to import (which has reduced from 39 days to 19 days) as trade logistics and customs procedures were streamlined and scores well on the indicators related to starting a business (54th out of 175) and protecting investors (19th out of 175).