The Securities and Exchange Commission of Pakistan (SECP) has updated its compliance whitelist for non-bank digital financial platforms, adding ForiQarz among the licensed digital lenders that meet the regulator’s requirements.

ForiQarz, operated by Foremost Financials (Pvt) Ltd under License No. SECP/LRD/LD/106/FFSAL/2022, said its inclusion on the updated whitelist reflects compliance with the SECP’s regulatory standards for digital lending.

The revised list comes as Pakistan strengthens oversight of the country’s expanding digital credit market. The regulator has been tightening compliance requirements to discourage unauthorized lending platforms while promoting licensed operators that adhere to consumer protection, data security and responsible lending standards.

Demand for short-term digital financing has increased in recent years, driven by inflation and wider adoption of digital financial services. The sector primarily serves freelancers, salaried workers and small business owners seeking quick access to credit.

ForiQarz offers collateral-free digital loans through a fully paperless application process. The platform is integrated with JazzCash and EasyPaisa, enabling digital loan disbursements and repayments.

According to the company, its platform uses end-to-end encryption, follows customer protection protocols and provides local customer support during business hours.

The updated whitelist is part of the SECP’s broader efforts to improve transparency and strengthen regulatory compliance across Pakistan’s digital lending industry.