Mobilink Bank, Pakistan’s leading digital microfinance institution, recently received prestigious awards at VEON Ignite 2024, an annual event that brought together over 200 global leaders from VEON’s network to discuss digital innovation and future strategies. Mobilink Bank was celebrated for its significant contributions to digital financial services, community investment, and Diversity, Equity, and Inclusion (DEI), […]
Peshawar, Nov 7 — The Khyber Pakhtunkhwa government has taken a significant step towards economic empowerment and poverty reduction with the upcoming launch of its interest-free Ehsaas Loan Scheme. All necessary measures to implement the scheme have been completed, as announced during a high-level meeting at the Civil Secretariat chaired by Advisor to the Chief […]
Karachi: BankIslami, one of Pakistan’s leading Islamic financial institutions, has announced a groundbreaking campaign to promote its riba-free (interest-free) banking services, targeting individuals from all backgrounds and faiths. This initiative underscores BankIslami’s dedication to providing ethical and inclusive banking options, accessible to everyone regardless of religious affiliation. The move aligns with the bank’s mission of […]
November 6, 2024 – Tencent has announced a strategic partnership with Visa to bring its palm recognition technology to international markets, with an initial rollout in Singapore. The service, called “Pay by Palm,” enables Visa cardholders from participating banks—including DBS, OCBC, and UOB—to make secure, contactless payments by scanning their palms. The pilot launch was unveiled at the Singapore Fintech Festival […]
In a significant development in Pakistan’s banking sector, the Board of Directors of Silkbank Limited (PSX: SILK) has granted in-principle approval for a potential merger with United Bank Limited (PSX: UBL). The decision was made during a board meeting held on November 6, 2024. The merger, which would be structured as a scheme of arrangement, […]
Karachi, November 6, 2024 – The State Bank of Pakistan (SBP) has granted in-principle approvals to Toko Lab Private Limited and Accept Technologies Private Limited (operating as PayMob) to operate as an Electronic Money Institution (EMI) and Payment System Operator (PSO)/Payment Service Provider (PSP), respectively. These entities are now expected to establish their operational infrastructure […]
Lahore – In a landmark move to bolster Punjab’s livestock sector, a Memorandum of Understanding (MoU) was signed for the Chief Minister Punjab’s Livestock Card at the Bank of Punjab Head Office in Lahore. The initiative marks the beginning of a comprehensive registration process for the Livestock Card, aimed at supporting and uplifting the province’s […]
Partnership to Provide Seamless, Localized Payment Access Across 20+ Countries in Africa, Asia, and Latin America dLocal, a leading cross-border payment platform focused on emerging markets, has announced a major expansion of its strategic partnership with inDrive, a global mobility and urban services platform. This collaboration aims to address critical financial inclusion and payment challenges […]
Karachi, Pakistan — Meezan Bank, Pakistan’s largest Islamic bank, has signed a strategic partnership with the International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IsDB) Group, to introduce the ITFC Letter of Credit (LC) Confirmation product. This collaboration marks Meezan Bank as the first Pakistani bank to partner with ITFC […]
Karachi: In a significant move to bolster home remittance services across Pakistan, JS Bank and BankIslami have announced a strategic partnership aimed at expanding secure and convenient remittance payouts nationwide. The collaboration combines the strengths and extensive retail networks of both institutions, promising improved accessibility and service for remittance beneficiaries. Under the partnership, JS Bank […]