The Competition Commission has taken notice of the looting of mobile loan apps || @nesterskyofficial

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Attractive loan offers and underlying facts will be investigated.



 

The Competition Commission has taken note of the growing concerns regarding mobile loan applications.


Competition Commission will investigate the attractive offers and underlying facts of the loans for which further assistance will be sought from SECP, PTA, and FIA.


The Competition Commission says processing fees and high-interest rates are being charged for loans.


According to the Competition Commission, the applications do not meet the rules for non-banking microfinance companies, the framework for small loans applicable to loans above Rs 10,000.


The commission says that mobile applications are offering loans for much less money than that, these applications have been downloaded more than 10 million times.

 

Location: Pakistan

Comments

  1. Anonymous24 January 2023 at 23:04

    banks easily loan daita ni,,,or jis ko dy dy wo phr bank ko wapis daita ni,,,,aisy m to phr aisi fraud wali companies ka kam chalna he h

    ReplyDelete

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