Pakistan is one of the heavily indebted countries. Sometimes, very few opportunities arise for the citizens to benefit from and one of them is Barwaqt Loan App.
The Barwaqt loan app became popular because of how easy it made applying for short-term loans directly using your CNIC (ID card). It allowed users to borrow anywhere between PKR 50,000 to PKR 150,000, making it very easy for people to enjoy such loans in times of need. There are some real and SECP-approved loan apps operating in Pakistan, but there are also fake and scam schemes targeting citizens. Right now, one such app under concern is the Barwaqt Loan App.
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Inside of SECP Warning of Barwaqt Loan On-going Scams
SECP Declares Barwaqt App Non-Operational
But things took a turn when The Securities and Exchange Commission of Pakistan (SECP) found out about several fraudulent activities associated with the Barwaqt Loan app. That is when they issued a clear warning to alert all citizens.
On April 11, 2025, SECP made a statement that Seed-cred Financial Services Limited (SFSL), the company behind Barwaqt is currently non operational. In fact, Barwaqt was officially de-listed in August 2024, according to SECP. Barwaqt App is also not available on Google Play Store and App store.
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How People Are Being Scammed Using the App Name
SECP also mentioned that many individuals are using social media platforms to falsely associate themselves with the Barwaqt app. They claim money from its users. These scammers are asking for payments and personal information in exchange for services but SECP made it clear:
These people have no legal authority, and their actions are completely fraudulent.
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What Barwaqt Itself Advises
Barwaqt itself clearly mentions in its terms and conditions that users should stay vigilant with their personal information. The app is not responsible for scams done outside of its platform. Anyone asking for your loan details or payment over phone or social media should never be trusted.
SECP Advice to Citizen
SECP is urging all Pakistani citizens to be extra alert and careful.
- Always verify the source before sending any money.
- Never share personal or banking information with anyone claiming to be from Barwaqt.
- If something seems fishy, don’t proceed.
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Stay Smart and Stay Safe
Barwaqt loan might be an easy way to access short term credit, but with scammers finding new ways to target users. You must stay smart and stay safe. Always go through official channels only, and if you ever feel unsure, better to step back than lose your money to fraud.
Ali Akhtar is a young and curious voice here at Pakistan Era. He is currently pursuing his A-Levels and has a growing interest in Pakistan’s changing industrial landscape and educational trends. Ali likes to write in a way that helps him explain and explore the world around him. His writing reflects the perspective of the new generation navigating the evolving trends of Pakistan where technology, youth innovation, and shifting opportunities are reshaping the country’s future.
