Islamabad, Sep 11: A whitelist of nine “Nano Lending Apps” and seven more lending apps that have been approved by the Securities and Exchange Commission of Pakistan (SECP) is available till September 10, 2024.
According to the new list issued by the SECP, the digital Nano loans are short-term loans with high interest rates and additional charges.
The customer must understand the potential risk of over-indebtedness. Borrow responsibly and only take loans that customers can comfortably repay within the agreed timeframe to avoid financial difficulties.
Before taking out a loan, be sure you have properly read the terms and conditions. “Our top priority is your financial well-being,” SECP informed the public.
The SECP has also issued a list of the approved – Other Lending Apps (i.e EWA, BNPL, B2B, B2C etc):
- Abhi Private LTD (Earned Wage Access)-Google Play: Abhi – Your Salary Now! Apple App Store: Abhi – Your Salary Now!;
- Tez Financial Services Limited (Buy Now Pay Later)-Google Play – ZoodPay & ZoodMall Apple App Store – ZoodPay & ZoodMall;
- Cashew Financial Services Limited (B2B Financing) (Muawin).
- QistBazaar Pvt Limited (Buy Now Pay Later) (QistBazaar).
- CreditBook Financial Services Limited (B2B Financing) (Tijara).
- Edufi Financial Services (Private Limited (Study Now Pay Later) (Edufi).
- Taleem Finance Company Limited (Education Finance) (Taleem Connect).
