According to SECP, ‘Asaan Qarza’ is among 74 fake loan apps on Google Play Store

The Security and Exchange Commission of Pakistan (SECP) on Saturday advised the public not to bother with fake loan apps downloaded from the Google Play Store.
Asaan Qarza, which has been downloaded over a 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 apps claim to offer low-interest, easy loans to people. People who download these apps are given access to their phone’s data, including their photo gallery and contacts.
Once the applications are downloaded, they have access to the user’s personal data.
The financial regulatory authority announced Geo Fact Check that only 10 microloan apps are legal including Finja, Muawin, Credit Per, Easy PK Loan, Zoodpay & ZoodMall, Qisstpay CreditCat RazCash, Abhi, Barwaqt, Udhar-Paisa and Zaroorat Cash.
These applications are registered as non-banking financial companies by the SECP under the Companies Act, 1956.
“Apps are not included in the [above] lists are illegal,” said SECP Chief Spokesperson Musarat Jabeen Geo Fact Check via email: “The public is advised not to engage with illegal applications.”
The commission has identified 75 online apps that are considered to be scams, including Asaan Qarza, which the SECP wants to crack down on.
“To check the menace of illegal rental apps, the SECP has tied up with local regulatory authorities like PTA, FIA and SBP besides Google and Apple,” Jabeen added.
“In January and February, 75 unauthorized apps were reported to Google and Apple and removed from their app stores. Google has agreed to initiate a policy review to limit its platforms to licensed entities.
The spokesperson explained that these illegal apps engage in “predatory lending” behavior where they blackmail and harass borrowers, as well as data breaches that are subject to prosecution under the Electronic Crime Prevention Act 2016 and the Anti-Money Laundering Act 2010.
According to the rules, a digital lender is eligible to operate in the country if it has obtained the license and approval of the SECP and a certificate from the Pakistan Telecommunication Authority (PTA).
Furthermore, the applications cannot access the borrower’s phone book, contact list or photo gallery, even if the borrower has consented to this.
The list of illegal and disallowed apps is below:
Sr. |
Name |
Company/Developer |
1 | 360 Online Qarz | Mahbubur technology |
2 | 567 Quick loan | Chunu technology |
3 | 99 Fast cash loan | Morsaline technology |
4 | Aasan Lab – Easy to use 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 Credit | Tom Edler |
10 | CashPro – Instant Approval | Cashpro technology |
11 | On loan | MHLD studio |
12 | CredStar – Personal Loan | Jingle Creed |
13 | Deposit camping (old name debtor camping) | Iqtidar Hussain |
14 | Didi loans | DidiLoans |
15 | Easy cash loans | CapitalPoint Limited |
16 | Easy loans loan fast payment | Boj Inc |
17 | Simple mobile loans | Rapidpay applications |
18 | Fair loans | Cemens Kft |
19 | Quick loan | Lea of Gibraltar |
20 | Fast Manne Credit Guide | Quicksoft technology |
21 | FinMore- Online credit loans | Simple digital technology |
22 | Fori instant loans | to borrow |
23 | Fori Qarz online personal loan | Fori Qarz Kft |
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- Fast Money | Harsha Credit Bureau |
29 | Hayar Pocket Easy Base | Hayar is a private company |
30 | JaidiCredit | Adnan Rahim |
31 | LendHome | Susan R Tabor |
32 | Small Cash – Mobile Loans | Optipay Limited |
33 | LoanClub | Quick Mob Pay Pvt. Kft |
34 | MiniHitel – Personal Online Loan | Credito.pk |
35 | Money bee | Mr. Arming Saelee |
36 | Money box | Ejaz Hasan Mujawar (QistBazaar) |
37 | MrLoan | LE THUY DUNG |
38 | MY cash | Arham Sarwar |
39 | MyCash | It’s a chore |
40 | Naqad Qarza-ABC | Khudeza technology |
41 | Payday loans | Muhammad Noman Shaikh (Tech Productions) |
42 | Private loan-Online lending | Fahad Nabeel |
43 | Pyoor Pack-Personal loan (old name: Pyoor Loan) | Pyoor Credit Bureau |
44 | Qarza Pocket-Personal Funds (old name: Qarza Rupee) | Qarza Rupee |
45 | QuickCash- Fast mobile loans | StarLink-Tech |
46 | Rico Box – Simple online application | RT first boot |
47 | Rose Cash- Borrow cash | Khalid475 |
48 | Sallam Loan- Online Loan App | Paput |
49 | Excellent loans | Excellent loan team |
50 | Swift Loans- Fast loan disbursement | Platinum developer |
51 | Tazza Center – Get Money Soon | Ali Asad Tanveer |
52 | TiCash | Tcashwin |
53 | UrCash | It’s a chore |
54 | Whale | Dev Shubham |
55 | YoCash | Ambrose 770250 |
56 | Zenn Park – Simple instant help | Zen Credit Bureau |
57 | ZetaLoan- Easy loan 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 Basics | Monii Credit Studio |
62 | Holiday loan | Rtyfgyau787 |
63 | Credit Now – Secure loan application | CreditNow |
64 | EasyLoan Lite – cash loan | Aleaty Microfinance (Pvt) Ltd |
65 | Haath pocket | Qarza Rupee |
66 | OK wallet | OK wallet |
67 | ColeCash | Sickle |
68 | Focus loan | Cash CS |
69 | Pakistan Online Loan Application 2021 | 2D Arm |
70 | Wcash loan | Geek Lab |
71 | Pakkicash | Thanks Developer |
72 | LuckMoney | LuckMoney |
73 | Candycash | Candycash |
74 | Pakket Pocket- Instant Money | Pakket Pocket Kft |