Karachi: The State Bank of Pakistan (SBP) is set to revolutionize the traditional cattle markets during Eid-ul-Azha by introducing digital payment methods. This initiative aims to reduce cash transactions and promote financial inclusion in a market valued at an estimated Rs550-600 billion during the festival. The SBP has partnered with 25 banks to facilitate QR […]
In a strategic move to bolster its credit enquiry capabilities, Raqami Islamic Digital Bank has signed a basic agreement with Tasdeeq. This partnership is set to leverage Tasdeeq’s extensive database and alternative credit data sources, including power, gas, and water usage, to deliver significant value to the banking industry, particularly digital banks. Tasdeeq’s innovative approach […]
Meezan Bank, Pakistan’s leading Islamic bank, has officially commenced operations of its wholly-owned subsidiary, Meezan Exchange Company Limited (MECL), in Karachi. MECL is set to offer comprehensive remittance and foreign exchange services to all customers. As a part of its initial expansion strategy, MECL aims to open 10 outlets nationwide within the first month of […]
Islamabad, 22 May 2024 – Safeer ul Hak, Coordinator for Strategic Alliances and Partnerships of the Global Entrepreneurship Network (GEN), held a productive meeting with the Honorable Minister of IT and Telecom, Shaza Fatima Khwaja, at her office in Islamabad, to explore potential synergies and collaborations between GEN and the Ministry. “The meeting was a […]
Zindigi and 5th Pillar Family Takaful Partner to Simplify Hajj and Umrah Pilgrimages In a groundbreaking move to facilitate Hajj and Umrah pilgrimages, Zindigi, the digital banking initiative of JS Bank, has partnered with 5th Pillar Family Takaful Limited, a leading provider of Takaful products and services. This collaboration aims to make these sacred journeys […]
Dubai Islamic Bank Pakistan and Lulu Exchange Sign Agreement to Enhance Remittances from UAE to Pakistan Dubai Islamic Bank Pakistan (DIBP) and Lulu Exchange have entered into a strategic partnership aimed at boosting remittances from the United Arab Emirates (UAE) to Pakistan. This collaboration is set to enhance financial services and facilitate smoother cross-border transactions […]
Raqami Islamic Digital Bank Ltd. (RIDBL), one of the leading contenders for the digital retail bank license under Pakistan’s 2022 Licensing and Regulatory Framework for Digital Banks, proudly announces a strategic partnership with 1LINK, the nation’s largest Payment Service Provider and Payment Service Operator. The partnership was formalized during a signing ceremony at the 1LINK […]
PMIC and Daraz Forge Partnership to Empower Rural Women in Pakistan In a landmark collaboration, the CEOs of Pakistan Microfinance Investment Company (PMIC) and Daraz have officially joined forces under the PMIC’s “Informal to International” initiative. This partnership, endorsed by the Male Champions of Change forum, represents a united effort to drive innovation, bridge barriers, […]
The Bank of Khyber (BoK) has unveiled a new tripartite arrangement with 1LINK and Kuickpay, aiming to simplify the bulk onboarding process for online billers. This significant development is expected to enhance efficiency and speed in business enrolment processes. The agreement was signed by Jawad Hassan Khan, Divisional Head of Alternate Delivery Channels at BoK; […]
Systems Limited Partners with Temenos to Develop Country Model Banks in APAC Region May 21, 2024 – Systems Limited, a global technology leader and award-winning partner of Temenos, has signed a significant agreement to license and develop Temenos Country Model Banks for financial institutions in five Asia-Pacific (APAC) countries: Indonesia, Malaysia, Vietnam, Myanmar, and Brunei. […]