SECP Loan Settlement Process Announced for UdharPaisa and Barwaqt Users
The Securities and Exchange Commission of Pakistan (SECP) has launched a new SECP loan settlement process for UdharPaisa and Barwaqt borrowers. The decision follows orders from the Islamabad High Court. As a result, borrowers can now repay pending loans through a legal and supervised system.
The court appointed Advocate Syed Ishfaq Hussain Shah as the Official Liquidator for both companies in December 2025. In addition, the notice directs borrowers to use only approved bank accounts for repayments. Authorities will not accept payments through agents, apps, or third parties. Therefore, borrowers should follow the official process carefully to protect their credit records and avoid future issues.
Official Process for Loan Repayment
Borrowers must first obtain credit reports from Tasdeeq Information Services Limited and DataCheck Limited. After that, they should check both reports and identify the higher outstanding amount. Users then need to deposit the payment into the designated Bank Makramah Limited account for either UdharPaisa or Barwaqt.
However, borrowers can only make payments through physical bank branches. The companies do not allow online transfers, mobile wallets, or digital payment apps. In addition, borrowers must complete deposit slips with their CNIC number, name, and contact details. They should also keep stamped receipts for future reference.
Credit Record Updates and Public Warning
The Official Liquidator will send updated settlement details to credit bureaus within four weeks after payment. As a result, borrowers may restore their credit history after completing the process correctly.
UdharPaisa borrowers must email their documents to liquidatormicrocred@gmail.com. Similarly, Barwaqt users should send records to liquidatorseedcred@gmail.com. Required documents include CNIC copies, credit reports, and payment receipts.
The SECP also warned the public against unauthorized recovery agents. Only the Official Liquidator can legally manage repayments under court supervision.
