Tech electrical :
Dear Sir,
I would like to draw your attention to the growing threat posed by online loan apps in Pakistan. These interest-based lending apps have become a serious menace to society. In the past, several people were reportedly driven to suicide due to their excessive interest rates, unfair lending practices, and relentless harassment.
Unfortunately, many of these apps are now operating under SECP licences. They advertise low mark-up rates to attract borrowers, but once the loan is disbursed, they impose extremely high mark-ups and additional charges. If a borrower is even slightly late with repayment, they are subjected to constant phone calls, intimidation, harassment, and violations of their privacy, causing severe mental stress.
Some of these apps include SmartQarza, MoneyTap, Sahara, Aitmaad, Paisayaar, Daira, FauriCash, PakCredit, and many others operating under different names.
I sincerely request that the relevant authorities conduct a thorough investigation into the practices of these loan apps and take strict legal action wherever violations of the law are found. Please protect innocent citizens from financial exploitation, mental distress, and potential harm.
May Allah bless you and guide you in serving the people.
Respectfully,
2026-07-30 14:25:35