The SECP has updated its compliance whitelist for non-bank digital financial platforms operating in Pakistan. The update includes ForiQarz, a digital lending platform managed by Foremost Financials (Pvt) Ltd.
According to the company, its inclusion on the whitelist confirms that the platform meets the regulatory requirements set by the SECP. The company operates under License No. SECP/LRD/LD/106/FFSAL/2022 and provides digital credit services to customers.
The updated whitelist comes as demand for short-term digital financing continues to increase in Pakistan. Rising living costs and changing consumer needs have encouraged more people to seek quick and accessible credit solutions.
The SECP has strengthened its regulatory framework for digital lending platforms in recent years. The aim is to prevent unauthorized lending activities and support companies that follow consumer protection, compliance, and data privacy standards.
Pakistan’s digital nano-credit sector has expanded as more individuals and small businesses look for short-term financial support. The sector serves a wide range of users, including salaried workers, freelancers, and entrepreneurs.
ForiQarz provides collateral-free digital loans through a fully online process. Customers can apply for financing without traditional paperwork, making the service faster and more convenient.
The platform also supports digital loan disbursement and repayment options through integrations with popular payment services, including JazzCash and EasyPaisa. These integrations allow users to complete financial transactions electronically.
The company stated that its platform uses end-to-end encryption to protect customer information. It also follows customer protection measures and maintains a local support service for users.
According to ForiQarz, customer assistance is available daily from 8 AM to 8 PM. The company aims to provide accessible digital credit services while maintaining security and compliance standards.
The inclusion of ForiQarz in the SECP whitelist highlights the regulator’s efforts to promote responsible growth in Pakistan’s digital finance industry. Licensed platforms are expected to follow strict rules related to transparency, user protection, and secure financial operations.
Digital lending platforms have become an important part of Pakistan’s evolving financial ecosystem. They provide alternative financing options for people who may need quick access to smaller loans.
With regulatory oversight increasing, the SECP continues to focus on creating a safer environment for digital financial services. The updated whitelist helps users identify platforms that operate under approved regulatory standards.
In other related news also read SECP Increases Sahulat Account Investment Limit
ForiQarz’s addition to the list reflects the growing role of licensed digital lenders in Pakistan’s financial sector. The development also shows the increasing importance of secure and regulated digital credit solutions for consumers and businesses.
