Turkiye detains 13 people in probe of fintech Papara, which acquired Pakistan’s SadaPay

Police officers stand in a street around the provincial police headquarters where Istanbul Mayor Ekrem Imamoglu is being held after his arrest, on March 19, 2025. (AFP/ file)
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Updated 27 May 2025
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Turkiye detains 13 people in probe of fintech Papara, which acquired Pakistan’s SadaPay

  • Papara is suspected of money laundering, illegal betting and establishing a criminal organization
  • Papara expanded by acquiring Pakistan-based SadaPay and Spain-based Rebellion Pay in 2023

ISTANBUL: Turkish authorities detained 13 people as part of an investigation into fintech company Papara over suspected money laundering, illegal betting and establishing a criminal organization, Interior Minister Ali Yerlikaya said on Tuesday.

Yerlikaya said authorities determined that the company, which provides online money transfers, foreign-exchange transactions and bill-payment services for its 21 million users, was allowing users to open accounts to transfer illegal betting income.

A report by state broadcaster TRT Haber said the detentions included Papara’s founder and chairman, Ahmet Faruk Karsli.

As part of the probe, the Savings Deposit Insurance Fund (TMSF) was appointed as a trustee to Papara by a court decision, following reports from the central bank, the Financial Crimes Investigation Board (MASAK), and other relevant institutions.

The central bank, which regulates payment firms, said on Tuesday it would implement daily limits to transactions made on the platform.

“In this process, which will be carried out in coordination with the relevant institutions, temporary daily limits will be applied to payment transactions at the institution,” the central bank said in a statement.

It also sought to reassure users, noting that “within the scope of the law, the funds of payment service users in payment and electronic money institutions are secured in protection accounts at banks.”

Yerlikaya said 10 companies, bank accounts and assets of the detained individuals were seized as part of the investigation.

A report by the financial crimes unit found that more than 26,000 accounts were used for illegal online betting, involving transactions worth 12.9 billion lira ($330 million), he added.

Papara, one of Turkiye’s fastest-growing fintech companies, did not immediately respond to a request for comment.

The company was founded in 2015 and received an electronic money institution license from the banking regulator BDDK the following year. It expanded abroad by acquiring Pakistan-based SadaPay and Spain-based Rebellion Pay in 2023.

According to its website, Papara had 21 million users as of last year. PPR Holding owns Papara, and Trade Registry data shows Karsli held about 90 percent of the company as of May 2024.


Pakistan battles legions of fake doctors

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Pakistan battles legions of fake doctors

  • Such unlicensed clinics are often the first, and sometimes the only, point of care for poor communities
  • Pakistan Medical Association says these doctors ‘reuse syringes, which increases spread of hepatitis, AIDS’

Tando Saeed Khan, Pakistan: Rusted nails hold used infusion tubes on the wall of a clinic run by one among hundreds of thousands of unqualified doctors operating across Pakistan.

Dozens of patients visit the small roadside shop each day in the southern Sindh province, where a few chairs are arranged around wooden tables used to lay patients down.

“These patients have faith in me. They believe I can treat them well,” said Abdul Waheed, who opened the facility a few months ago outside Hyderabad city.

During the day, the 48-year-old works at a private hospital in Hyderabad. In the evenings, he comes to the village of Tando Saeed Khan to see patients at his clinic, charging 300 rupees ($1) per consultation.

“I have spent so much time in this field. I have worked with several doctors. Thanks to God, I have confidence to diagnose a patient and treat the disease,” Waheed told AFP.

There is no signboard, no registration number, and he has no legal authorization to practice as a doctor.

Waheed, who has a diploma in homeopathy and has completed a four-year nursing course, speaks with confidence.

After examining two young children, he insisted that patients come to him willingly and trust his abilities.

“No one has questioned me yet. If someone comes, I will see what to do,” he said, reflecting the ease with which unqualified individuals practice medicine in Pakistan.

Such unlicensed clinics are often the first, and sometimes the only, point of care for poor communities.

DANGEROUSLY REUSING EQUIPMENT

Abdul Ghafoor Shoro, secretary general of the Pakistan Medical Association, said there are “more than 600,000 fake doctors” operating across Pakistan.

This nationwide figure has been confirmed by the Sindh Healthcare Commission (SHCC), based on estimates from the Pakistan Medical and Dental Council.

Calling the practice a public health epidemic, Shoro said that such practitioners work with doctors, learn a few things there, and then open their own clinics.

“Unqualified doctors don’t know the side effects and exact dosage of medicines. If a disease is not properly diagnosed, it can become dangerous,” Shoro said.

“The instruments they use are not sterilized. They simply wash them with water and continue using them. They reuse syringes, which increases the spread of hepatitis and AIDS.”

As AFP journalists visited Tando Saeed Khan, another unqualified doctor immediately closed his clinic and disappeared.

Outside Waheed’s shop, villager Ali Ahmed said there are multiple such clinics in the area.

“None of them have qualified doctors. People aren’t educated and can’t recognize qualified doctors,” the 31-year-old told AFP.

LIFELONG DAMAGE

Medical experts say this unchecked practice has a direct impact on Pakistan’s already strained health care system, with tertiary care hospitals overwhelmed by patients whose conditions worsen after improper treatment.

Khalid Bukhari, the head of Civil Hospital Karachi, said the facility regularly receives such cases from across the country.

“They misdiagnose and mistreat patients. Our hospital is overloaded. Most of the cases we receive are those ruined by them,” said Bukhari, whose public hospital is one of the largest in the country.

“These people are playing with the lives of poor citizens. If people go to proper doctors and receive precise treatment, they will not need to come to us.”

Regulatory authorities acknowledge their failure to control the problem.

“We have limited resources. This practice cannot be eliminated easily. If we shut down 25 outlets, 25 new ones open the very next day,” said Ahson Qavi Siddiqi, the head of Sindh HealthCare Commission (SHCC).

The commission recently sealed a bungalow in Karachi that had been operating as a hospital — complete with intensive care units for children and adults — because it was unregistered.

“The law against it is weak. We file cases, but the accused get bail the next day because it is a bailable offense,” Siddiqi told AFP.

The official also described serious security threats faced by inspection teams.

“These people are influential in their areas. In many cases, our teams are taken hostage. We are fired upon. I don’t have the force to take strong action,” the SHCC head said.

Shoro said the practice also financially destroys families who are left with big hospital bills when something goes wrong.

“Many people die or become disabled, and their families suffer for the rest of their lives.”