The Securities and Exchange Commission of Pakistan (SECP) has updated its compliance whitelist for non-banking digital financial platforms, taking another major step to regulate the country’s expanding nano-finance sector. As part of the latest update, ForiQarz, operated by Foremost Financials (Pvt) Ltd, secured official compliance status, allowing the company to expand its digital credit services across Pakistan while following approved regulatory standards.
The updated whitelist comes at an important time as rising inflation and changing spending habits continue to increase demand for short-term financial support. Therefore, the SECP has tightened its compliance framework to remove unauthorized digital lenders from the market while encouraging licensed platforms that protect customer data, maintain transparency, and provide responsible financial services to consumers.
Pakistan’s nano-credit sector has become an important source of financial support for freelancers, salaried employees, and small business owners facing temporary cash shortages. In response, ForiQarz has developed a fully digital lending system that allows eligible users to access quick financing without providing collateral, reducing delays and making credit easier to obtain through a simplified application process.
Another key factor behind the platform’s regulatory approval is its completely paperless digital infrastructure and strong payment integration. Moreover, ForiQarz connects directly with JazzCash and EasyPaisa through secure technology, enabling fast loan disbursements and repayments while improving access to formal financial services for people who remain underserved by traditional banking institutions.
The SECP also reviewed customer protection measures and data security before granting compliance status to approved platforms. ForiQarz introduced a harassment-free customer engagement policy, uses advanced encryption throughout its lending process, and operates a local customer support service from 8:00am to 8:00pm daily. As Pakistan’s fintech industry continues to grow, stronger regulation and compliant digital lenders are expected to improve financial inclusion while building greater public trust in digital credit services.