The picture shows a Google Play Store logo. — Reuters/File

‘Asaan Qarza’ among 74 fake loan apps on Google Play Store, SECP says

by Pakistan News
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The picture shows a Google Play Store logo. — Reuters/File 

The Security and Exchange Commission of Pakistan (SECP) on Saturday advised the public to not deal with fake loan apps downloaded from Google Play Store. 

Asaan Qarza, which has been downloaded over one million times from Google alone, is one of 74 fake loan apps that claim to be a “professional 100% online loan application” that provides cash. 

These applications claim to offer people easy loans at low-interest rates. Those who download these apps give access to their phone data including their picture gallery and contact list. 

Once these applications are downloaded, they get access to the personal data of the user. 

The financial regulatory authority told Geo Fact Check that only 10 micro-credit apps are legit which include Finja, Muawin, Credit Per, Easy PK Loan, Zoodpay & ZoodMall, Qisstpay CreditCat RazCash, Abhi, Barwaqt, Udhar-Paisa and Zaroorat Cash.

These apps are registered with SECP as non-banking financial companies, under the Companies Act, 1956.

“Apps not included in the [above] list are illegal,” Musarat Jabeen, the chief spokesperson of the SECP, told Geo Fact Check via email, “Public is advised not to deal with illegal apps.”

The commission has identified 75 online apps that are scams including Asaan Qarza, which the SECP is hoping to crack down on. 

“In order to control the menace of illegal lending apps, SECP has liaised with local regulators such as PTA, FIA, and SBP besides Google and Apple,” Jabeen added.

“In January and February, 75 unauthorised apps were reported to Google and Apple for removal from their app stores. Google has agreed to initiate a review of its policies to limit its platforms to licensed entities.”

The spokesperson explained that these illegal apps have a “predatory lending” behaviour, where they blackmail and harass borrowers and breach their data privacy, which are liable for action under the Prevention of Electronic Crime Act, 2016 and the Anti Money Laundering Act, 2010.

As per the rules, a digital lender will be authorised to operate in the country if it has obtained a license and approval from SECP and certification from the Pakistan Telecommunication Authority (PTA).

Furthermore, the apps are not allowed to access a borrower’s phone book, contact list or photo gallery, even if the borrower has given consent.

The list of illegal and unauthorised apps is listed below:




1 360 Online Qarz Mahbubur Technology
2 567 Speed Loan Chunu Technology
3 99 Fast Cash Loan Morsalin Technology
4 Aasan Lab- Easy Apply Money Aco Startup
5 Apple Qist Qarz Rabeya Technology
6 Asaan Qarza- credit loans S&P Fintech
7 Bee Cash Superthaliyou
8 BG Loan: Unsecured Loans Shakhawat Technology
9 CashCredit-Online Loan Tom Edler
10 CashPro-Immediate Approval Cashpro Technology
11 CreditLoan MHLD studio
12 CredStar- Personal Credit Loan Jinglecred
13 Debit Campsite (Old Name Debt Campsite)  Iqtidar Hussain
14 DiDi Loans DidiLoans
15 Easy Cash Loans CapitalPoint Limited
16 Easy Loans Credit Fast Pay Boj Inc
17 Easy Mobile Loans Rapidpay Apps
18 Fair Loans Cemens Ltd
19 Fast Loan Gibraltar Lea
20 Fast Manne Loan Guide Quicksoft Technology
21 FinMore- Online Credit Loans Easy Digital Technology
22 Fori Instant Loans BorrowN
23 Fori Qarz Online Personal Loan Fori Qarz Ltd
24 Galaxy Loan Amrit Malwa
25 Get It Now Get It Now App
26 Get Welfare Naseem Technologies Ltd
Muhammad Imran
27 HamdardLoan Hamdard Team
28 Harsha Tube- Quick Money Harsha Credit Office
29 Hayar Pocket Easy Fund Hayar private company
30 JaidiCredit Adnan Rahim
31 LendHome Susan R Tabor
32 Little Cash- Mobile Loans Optipay Limited
33 LoanClub Quick Mob Pay Pvt. Ltd
34 MiniLoan- Personal OnlineLoan
35 Money bee Mr. Arming Saelee
36 MoneyBox Ejaz Hasan Mujawar (QistBazaar)
38 MY Cash Arham Sarwar
39 MyCash Muka
40 Naqad Qarza-ABC Khudeza Technology
41 Plati Loans Muhammad Noman Shaikh (Tech Productions)
42 Private Credit-Online Borrow Fahad Nabeel
43 Pyoor Pack-Personal lend (old name: Pyoor Loan) Pyoor Loan Office
44 Qarza Pocket-Personal Funds (old name: Qarza Rupee) Qarza Rupee
45 QuickCash- Quick Mobile Loans StarLink-Tech
46 Rico Box – Easy Apply Online RT first startup
47 Rose Cash- Loan Cash Khalid475
48 Sallam Loan- Online Loan App Paput
49 Superb Loans Superb Loans Team
50 Swift Loans- Fast Loan Disbur Platinum Developer
51 Tazza Center- Get Money Soon Ali Asad Tanveer
52 TiCash Tcashwin
53 UrCash Muka
54 Whale Dev Shubham
55 YoCash Ambrose770250
56 Zenn Park- Easy Instant Help Zen Credit Office
57 ZetaLoan- Easy Credit Wallet ZetaLoan Team
58 Money Club QPAY MBP PVT LTD
59 Super Magic- StableOnlineLoan Ganhewalage Anil Desapriya
60 Easy Pocket Dev Raja Kumar
61 Monii Pro – Quick Funds Monii Loan Studio
62 Holiday Loan Rtyfgyau787
63 Credit Now – Safe Loan App CreditNow
64 EasyLoan Lite- Cash Credit Aleaty Microfinance (Pvt) Ltd
65 Haath Pocket Qarza Rupee
66 OK wallet OK wallet
67 ColeCash Sickleking
68 Focus loan ReadymoneyCS
69 Loan app pakistan online 2021 2DArm
70 Wcash Loan Geek Lab
71 Pakkicash ThankDeveloper
72 LuckMoney LuckMoney
73 Candycash Candycash
74 Pakket Pocket- Instant Money Pakket Pocket Ltd

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