The Securities and Exchange Commission of Pakistan has blocked 40 out of 75 illegal apps with the help of Google. The rest of the apps will also be removed from the Google Play Store by May 31.
According to SECP, apps for business in Pakistan have to undergo a forensic audit from a PTA approved audit firm. On the basis of the same certificate SECP will issue NOC.
Executive Director SECP Khaleda Habib said that the reference point for Google to list on its Play Store will be SECP’s website. Will not allow listing on the store, no apps from outside will be able to approach the people of Pakistan, which is not approved by us.
According to Khaleda Habib, about 90 billion rupees have been disbursed and more than two and a half lakh people have benefited from it. come
According to the SECP and FIA officials, action will be taken if a complaint is received against the app called IDA, which is frauding crores of rupees in the name of investment.
SECP officials said that under the agreement with Google, illegal trading will be curbed, and the rest of the apps will also be blocked by May 31.
On the other hand, authorities also welcome the provision of loans through legitimate digital lending apps.