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Google swings into action to curb loan app scams in Pakistan

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In its bid to safeguard users in Pakistan against fraudulent and unregistered loan apps, Google has formulated a new screening policy for personal loan applications.

Effective from May 31, the policy mandates that only a single Digital Lending App (DLA) can be published by Non-Banking Finance Companies (NBFC). If developers found attempting to publish multiple DLAs will have their accounts and any associated accounts terminated.

This move by Google follows recent actions taken by the Federal Investigation Agency (FIA) against illegal finance companies involved in short-term online lending. The initiative was prompted by the tragic suicide of an unemployed man in Rawalpindi, who was unable to repay a loan.

Developers with personal loan apps targeting users in Pakistan must complete the Personal Loan App Declaration form and submit the necessary documentation before publishing their app.

They must submit proof of approval from the Securities and Exchange Commission of Pakistan (SECP) to offer or facilitate digital lending services in Pakistan.

Google Play will also request additional information or documents relating to loan app compliance with the applicable regulatory and licensing requirements.

Personal loan apps operating in Pakistan without proper declaration and license attribution will be removed from the Play Store. The developers must remove the app from the Google Play Store immediately if the submitted license, registration, or declaration is no longer valid under the applicable laws.

“Google is taking preventative measures by setting stringent requirements for Digital Lending Apps in order to reduce financial risk and ensure data privacy. We strongly believe that the new requirements imposed on developers of personal loan apps will provide an extra layer of protection for the users,” said Farhan S Qureshi, Google’s Pakistan director.

Under the new set of rules, a DLA is prohibited from accessing sensitive data, such as external storage, media images, contacts and fine location. Whereas apps offering short-term personal loans, requiring repayment in full within 60 days from the loan issue date, are not allowed.

Pakistan is one of a small group of countries where Google has implemented additional requirements for DLAs. The new policy update is a significant step towards safeguarding consumers from harmful financial practices and ensuring data privacy.

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Balochistani Graduates Selected for NUTECH Islamabad’s Mining Program

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For 18 graduates of the Reko Diq Mining Project, the National University of Technology, Islamabad, has started a training program. These graduates will complete an 18-month on-the-job training program at Barrick’s International Mining Sites after completing a two-month course at NUTECH.

The graduates will acquire proficiency in mining and associated technical domains during the training program. The chosen graduates will also get specific instruction on environmental protection, safety, exploration, and geology.

Along with the development of communication skills, the curriculum will also emphasise the most recent advancements in the mining industry. Barrick’s International Graduate Development Program for 2024 includes the Balochistani graduates.

Additionally, nine Baloch graduates were selected in 2023 and transported to Barrick’s facility in Argentina for on-the-job training.

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WhatsApp will improve the updates tab by introducing new shortcuts and a revamped interface.

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WhatsApp is implementing a new upgrade to refine the Updates tab interface, hence boosting accessibility for status and channel updates.

WABetaInfo reports that the upgrade introduces expedited shortcuts that streamline the updating of statuses and channels. Users can now select and upload photos and videos directly from the interface, reducing the steps involved in choosing media from the gallery.

The Meta-owned messaging application has also revamped the button for generating text-based status updates and introduced a feature for recording and sharing voice status updates. This offers customers a more expedient method to disseminate text and speech updates without depending on the floating action button.

The revisions correspond with recent modifications to other tabs, ensuring a modernised interface that improves navigation and update creation. WhatsApp is modifying the floating action button to facilitate content sharing within channels.

When selecting the floating action button, users will see several options, including creating status updates, starting new channels, or sharing photos, videos, voice, and text in existing channels. This revamp integrates all content-generating options into a singular section.

The new shortcuts are anticipated to be accessible to a broader user base in the forthcoming weeks. Beta testers can currently access them in the latest WhatsApp beta for Android, version 2.24.26.13, available on the Google Play Store.

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China and Pakistan Sign Memorandum of Understanding to Launch AI-Powered Agricultural Equipment

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Through Chinese expertise, the arrangement, which was made possible by the Special Investment Facilitation Council (SIFC), intends to increase Pakistan’s agricultural output.

The Punjab government and China’s “AI Force Tech” company have inked a memorandum of understanding (MoU) to introduce advanced agricultural machinery during Chief Minister Maryam Nawaz’s visit to China.

Through the use of advanced robotic technology, the MoU seeks to transform Pakistan’s agricultural industry, guarantee economic growth, and boost farmers’ wealth with China’s assistance.

Through the partnership, Pakistan would also have the chance to absorb knowledge about China’s sophisticated farming methods.

In the meantime, plans have been revealed by the Federal Minister of Planning to send 1,000 agricultural experts to China to study contemporary farming methods.

A Chinese business and the Punjab government previously inked an agreement to introduce cutting-edge cancer treatment technologies to Punjab.

Maryam Nawaz signed a Memorandum of Understanding (MoU) with Hygea Medical Technologies while she was in China in order to introduce cutting-edge cancer treatment equipment and techniques to Punjab.

This equipment will make it feasible to treat cancer without the need for chemotherapy or surgery.

Following a meeting with Hygea Medical Technologies President Dr. Luo Fuliang, Maryam Nawaz said the organization has promised expert assistance for the establishment of the Nawaz Sharif Cancer Hospital.

She went on to say that the hospital will work with China to treat cancer patients utilizing the newest equipment and techniques following the agreement.

Maryam Nawaz and a high-level delegation are present. From December 8 to December 15, the chief minister will go to Beijing, Shanghai, Shenzhen, and Guangzhou.

CM Maryam Nawaz is expected to attend a number of conferences, events, and meetings with the goal of enhancing bilateral relations and looking into potential joint ventures in the areas of infrastructure development, technology, agriculture, and governance.

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