Pakistan, July 20 -- The Securities and Exchange Commission of Pakistan (SECP) has updated its compliance whitelist for non-banking digital financial platforms, taking another major step to regulate the country's expanding nano-finance sector. As part of the latest update, ForiQarz, operated by Foremost Financials (Pvt) Ltd, secured official compliance status, allowing the company to expand its digital credit services across Pakistan while following approved regulatory standards.

The updated whitelist comes at an important time as rising inflation and changing spending habits continue to increase demand for short-term financial support. Therefore, the SECP has tightened its compliance framework to remove unauthorized digital lenders from...