{"id":93358,"date":"2023-04-12T15:47:47","date_gmt":"2023-04-12T10:47:47","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=93358"},"modified":"2023-04-12T15:47:48","modified_gmt":"2023-04-12T10:47:48","slug":"secp-approves-paks-1st-digital-lending-app-evaluates-10-others","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/secp-approves-paks-1st-digital-lending-app-evaluates-10-others.html","title":{"rendered":"SECP approves Pak&#8217;s 1st digital lending app, evaluates 10 others"},"content":{"rendered":"\n<p>Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has approved the first digital lending app of Pakistan while 10 others are being evaluated, a new source reported on April 11. Sources stated it as a constructive step for making sure digital lending industry operates with accountability and in a transparent manner.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/starlink-registered-with-secp.html\" target=\"_blank\" rel=\"noreferrer noopener\">US-based satellite internet services firm \u2018Starlink\u2019 gets registered with SECP<\/a><\/p>\n\n\n\n<p>The news source mentioned that three existing digital lenders have furnished their cyber security audit reports along with certificates issued by PTA-approved audit firms. This signifies their commitment to protecting the data of their customers.<\/p>\n\n\n\n<p>Keeping in mind the increasing number of complaints, the SECP has adopted several measures to address this issue. In December 2022, SECP issued Circular 15 of 2022, which clarified the regulatory framework for Non-Banking Finance Companies (<a href=\"https:\/\/www.zameen.com\/news\/secp-digital-lending-project-nbfcs.html\" target=\"_blank\" rel=\"noreferrer noopener\">NBFCs<\/a>) engaged in digital lending. The objective of this circular was to address and identify regulatory gaps in digital lending and to make sure NBFCs comply with certain criteria to protect the interests of consumers.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/real-estate-registered-secp-november.html\" target=\"_blank\" rel=\"noreferrer noopener\">SECP registers over 400 real estate construction firms in Nov<\/a><\/p>\n\n\n\n<p>Moreover, the guideline defined the obligations of lending NBFCs in handling customer complaints and maintaining the confidentiality of customer information. It also highlighted detailed requirements for mobile application security to safeguard customer data against cyber threats.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has approved the first digital lending app of Pakistan while 10 others are being evaluated, a new source reported on April 11. Sources stated it as a constructive step for making sure digital lending industry operates with accountability and in a transparent manner. Read: US-based satellite internet services firm \u2018Starlink\u2019 gets registered with SECP The news source mentioned that three existing digital lenders have furnished their cyber security audit reports along with certificates issued by PTA-approved audit firms. This signifies their commitment to protecting the data of their customers. Keeping in mind the increasing number of complaints, the SECP has adopted several measures to address this issue. In December 2022, SECP issued Circular 15 of 2022, which clarified the regulatory framework for Non-Banking Finance Companies (NBFCs) engaged in digital lending. The objective of this circular was to address and identify regulatory gaps in digital lending and to make sure NBFCs comply with certain criteria to protect the interests of consumers. Read: SECP registers over 400 real estate construction firms in Nov Moreover, the guideline defined the obligations of lending NBFCs in handling customer complaints and maintaining the confidentiality of customer information.&hellip;<\/p>\n","protected":false},"author":83,"featured_media":75882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15020],"tags":[56861,56860],"persona":[],"class_list":{"0":"post-93358","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-social-developments","8":"tag-first-digital-lending-app","9":"tag-secp-approves-paks-1st-digital-lending-app-evaluates-10-others","10":"cat-15020-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SECP approves Pak&#039;s 1st digital lending app- Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has approved the first digital lending app of Pakistan while 10 others are being\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/secp-approves-paks-1st-digital-lending-app-evaluates-10-others.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SECP approves Pak&#039;s 1st digital lending app- Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has approved the first digital lending app of Pakistan while 10 others are being\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/secp-approves-paks-1st-digital-lending-app-evaluates-10-others.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-12T10:47:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-04-12T10:47:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/04\/SECP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Iqra Masood\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Iqra Masood\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SECP approves Pak's 1st digital lending app- Zameen News","description":"Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has approved the first digital lending app of Pakistan while 10 others are being","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/secp-approves-paks-1st-digital-lending-app-evaluates-10-others.html","og_locale":"en_US","og_type":"article","og_title":"SECP approves Pak's 1st digital lending app- Zameen News","og_description":"Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has approved the first digital lending app of Pakistan while 10 others are being","og_url":"https:\/\/www.zameen.com\/news\/secp-approves-paks-1st-digital-lending-app-evaluates-10-others.html","og_site_name":"Pakistan Real Estate News &amp; 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