KARACHI: Lucky Investments Limited has made history by executing the largest-ever mutual fund launch witnessed in Pakistan. The newly established asset management company has raised Rs50 billion during the Initial Public Offering (IPO) of its Lucky Islamic Money Market Fund, shattering all previous subscription records. This landmark achievement marks an extraordinary milestone in the country’s […]
Karachi, Pakistan — In a major development for Pakistan’s financial sector, Bank Alfalah, one of the country’s leading commercial banks, has announced a strategic collaboration with Swift to introduce Payment Pre-validation, a groundbreaking solution aimed at improving the speed, accuracy, and security of cross-border payments. Through this partnership, Bank Alfalah—via the national payment switch 1LINK—will enable […]
Haball, Pakistan’s leading supply chain financing and payments fintech, raises a US$52 million pre-Series A funding round comprising equity investment and a strategic financing allocation. The round’s equity component of US$5 million was led by Zayn VC, Pakistan’s premier venture capital firm. Other investors included Majlis Advisory SPV, several leading private investors in KSA, angel […]
Islamabad – April 7, 2025 — Changpeng Zhao (CZ), the renowned founder of Binance and one of the most influential figures in the Web3 space, has officially been appointed as Strategic Advisor to the Pakistan Crypto Council (PCC), marking a historic milestone in the country’s digital finance journey. The announcement was made during a high-level […]
Islamabad, Pakistan — Karandaaz Women Ventures and The Bank of Punjab (BOP) have entered into a strategic partnership to enhance access to credit for women-led businesses across the country. This collaboration marks a major step forward in fostering inclusive economic growth and supporting women entrepreneurs who have traditionally faced barriers to formal financing. The partnership aims […]
LAHORE: The Federation of Pakistan Chambers of Commerce & Industry Businessmen Panel (BMP) has said that unreliable internet and digital payment barriers have slowed down the growth of the small and medium-sized enterprises (SMEs), as they have been facing serious challenges in their attempt to tap growing global market. The FPCCI former president and BMP […]
KARACHI – Hatton National Bank (HNB) of Sri Lanka has officially withdrawn from its proposed acquisition of Bank Alfalah’s operations in Bangladesh, according to a notification shared by Bank Alfalah Limited (BAFL) with the Pakistan Stock Exchange (PSX). HNB had initially submitted a non-binding offer last year to acquire the Bangladesh-based operations of BAFL. The […]
KARACHI: United Bank Limited (PSX: UBL) has witnessed a remarkable surge in market capitalization, reaching a record Rs. 600 billion (approximately US$ 2.1 billion), up from just Rs. 100 billion two years ago. The milestone was highlighted by Topline Securities CEO Mohammed Sohail, who noted that UBL has now surpassed the combined market value of two […]
Neem, Pakistan’s leading embedded finance platform, has partnered with the Bank of Punjab (BOP)(BOP), a prominent financial institution recognised for its focus on customer-centric innovation and financial inclusion. Through this collaboration, Neem will utilise BOP’s comprehensive branchless banking infrastructure to deliver embedded payment solutions, including collections, disbursements, and future card programs. This partnership enhances Neem’s […]
Islamabad – The digital payment ecosystem in Pakistan continues to strengthen, with 88 percent of all retail transactions processed through digital channels in the second quarter of the fiscal year 2025 (Q2-FY25), according to the State Bank of Pakistan (SBP). Mobile banking applications, branchless banking (BB) wallets, and e-money wallets played a pivotal role in […]