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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must remove the app from the Google Play Store immediately if the submitted license, registration, or declaration is no longer valid under the applicable laws.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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Google Makes The Decision To Boost Investments And Back The Government’s Youth Skills Training Initiative

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 Prime Minister Muhammad Shehbaz Sharif was visited in Islamabad by a four-person Google delegation led by Mr. Scott Beaumont, President of the APAC area.

Pakistan’s digital economy is about to undergo a revolutionary change, according to the prime minister, who greeted the team. Speaking on the government’s intentions to reach the goal of US$ 25 billion in exports over the next five years, the prime minister revealed that funding will be used for youth training, IT infrastructure upgrades, and regulatory environment enhancements. Pakistan’s economy is being fully digitalised, he remarked. In his attempts, he stressed the need of working together with a tech behemoth like Google.

The Prime Minister praised Google for pioneering projects that have dramatically enhanced the lives of thousands of Pakistanis in recent years, as well as for its involvement in propelling the country’s digital economy closer to reality. Noting with satisfaction that Google has helped Pakistani young land about a million jobs in 2023 alone, the Prime Minister emphasised that this is a testament to both Google’s dedication to upskilling and empowering Pakistan’s youth and Pakistan’s potential in the digital marketplace.

Informing the Prime Minister of its future involvement intentions, Mr. Scott stated that Google has made the decision to support the government’s youth skill-training initiatives and to expand its investment footprint in Pakistan. He went on to say that for a values-driven digital firm like Google, the growing economy and the sizeable youth population are crucial for optimising the economic benefits of technology. He restated that Pakistan’s IT industry will undergo a revolution when five lac Chromebooks are produced there by 2026.

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Google launches the ability to install multiple apps at once through the Play Store.

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Android users now have the ability to install or update many apps or games at once in the Play Store thanks to a feature introduced by tech giant Google.

Even if Android users downloaded or tried to update several apps or games at once, the prior capability would only process one app at a time.

In the Google Play Store, users can now download or manually update up to three apps or games at once, according to a GSMArena report.

with order to assist Android users with updating or installing multiple apps at once, Google is reportedly already starting to roll out the new feature in a few select locations, including India.

The feature will process three apps at once while sending the fourth to pending when customers install or manually update programs.

When configuring new phones or recovering from a backup, this feature is said to save a tonne of time.

It should be mentioned that Apple has long since permitted customers to download and install up to three iOS apps at once from the App Store.

According to GSMArena, the function is really available on a few cell phones in some regions, even though Google has not formally confirmed when it will appear or whether it will work with any particular handset.

Google started releasing a new AI-powered feature for Android phones a few weeks ago that locks users out of their data to prevent hackers from accessing it.

According to a Forbes story, cellphones running Android 10 or later will soon be able to use the function, which incorporates artificial intelligence.

The anti-theft feature known as “theft detection lock” is currently being rolled out to certain users, according to Mishaal Rahman, who frequently updates his followers on the most recent OS changes on X.

A restricted group of customers who registered for the beta program in Brazil are now receiving theft detection locks, according to Rahman’s post.

Rehman claims that Google Play Services will be used to provide the AI-powered feature to all Android 10 devices.

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Encouraging the IT Sector: Federal Government To Create Nationwide Network Of IT Parks

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Modern Information Technology Parks will be dotted around the nation by a network established by the federal government.

The goal of the program is to give young professionals a springboard to carry out their creative ideas and support the economy of the country.

The Ministry of Information Technology claims that these parks will increase exports and the IT industry while creating jobs for IT specialists.

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