FIA seized Rs 1.8 billion linked to interest-based transactions. The government is targeting apps not registered with SECP. Online loan apps have become a menace, impacting numerous individuals. Caretaker Interior Minister Sarfraz Bugti announced on Monday that the government has officially blacklisted 111 online apps offering interest-based loans. This decision followed a discussion initiated by … Read more
The SECP has introduced new regulations for digital nano-lending apps in Pakistan. The regulations aim to prevent exploitative practices and protect borrowers from debt cycles. The SECP is also considering capping APRs and overall costs for digital nano-loans. To prevent exploitative practices and guarantee the financial stability of borrowers in the digital nano-lending industry, the … Read more
KARACHI: In a proactive move to safeguard consumers from fraudulent practices, Google has taken a significant step by banning unregistered and fake loan-providing applications operating in Pakistan. The decision was made at the request of the Securities and Exchange Commission of Pakistan (SECP) in response to the alarming proliferation of these deceitful apps. According to … Read more
Loan apps in Pakistan are facing crackdowns and app removals from the Google Play Store. Certain SECP-registered loan apps demand excessive permissions, even for simple functions. The SECP has warned loan apps that they must comply with the new regulations or face closure. In Pakistan, loan apps face crackdowns and app removals from the Google … Read more
