By Web Desk 
The Securities and Exchange Commission of Pakistan (SECP) has recently released an updated whitelist of approved lending apps in the country. This initiative is aimed at protecting the public from fraudulent financial services and ensuring that only secure, regulated platforms operate in the digital lending space.
Why the Whitelist Matters
With the rise of fintech and digital lending, many unregulated apps have entered the market, often exploiting consumers with high-interest rates, hidden fees, and privacy violations. By issuing a whitelist, the SECP is providing a list of verified, safe platforms for users to access loans. This move not only enhances public confidence but also encourages lending apps to maintain ethical practices in line with regulatory guidelines.
How to Check for Approved Apps
Consumers can visit the SECP’s official website to check the latest list of approved lending apps. Before applying for loans, it is essential for users to verify that the app they are using is part of the whitelist to avoid scams. Moreover, the SECP urges people to report any unlicensed apps offering loan services to the relevant authorities.
Boosting Transparency in Digital Finance
The updated whitelist is part of SECP’s broader efforts to promote transparency and safety in Pakistan’s rapidly evolving digital finance landscape. This step is crucial in protecting consumers and helping build trust in the fintech industry.