The Securities and Exchange Commission of Pakistan (SECP) issued a white list of approved nine “Nano Lending Apps” and seven other Lending Apps until 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.
“Always read the terms and conditions carefully before availing any loan. Your financial well-being is our priority”, SECP advised the general public.
As per SECP, the following are the approved – Nano Lending Apps:
The SECP has also issued a list of the approved – Other Lending Apps (i.e EWA, BNPL, B2B, B2C etc):
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