Source: ProPakistani In response to the financial struggles faced by Pakistan’s salaried class, particularly frontline workers, Neem has launched Neem Paymenow, a Shariah-compliant Earned Wage Access (EWA) solution designed to provide timely financial relief. This innovative service aims to promote economic empowerment and ease the financial pressure experienced by salaried employees, particularly those in sectors […]
The State Bank of Pakistan (SBP) is expanding its groundbreaking RAAST payment system by onboarding the provincial chapters of Accountant Generals in Punjab, Balochistan, and Gilgit-Baltistan, according to the recently released “Annual Payment Review” by the central bank. The integration of these Accountant General offices into RAAST marks a significant step in the ongoing digital […]
KARACHI, October 15, 2024 — Standard Chartered Pakistan has entered into a strategic partnership with Gatronova Group, one of Pakistan’s leading conglomerates, by signing a Memorandum of Understanding (MoU). Through this collaboration, Standard Chartered will assume responsibility for Gatronova’s cash management and supplier financing requirements, offering tailored digital solutions to enhance operational efficiency and financial […]
ISLAMABAD, PAKISTAN (14 October 2024) — The Asian Development Bank (ADB) has announced the appointment of Xiaoqin (Emma) Fan as its new Country Director for Pakistan. Ms. Fan officially assumed her role today, joining the ADB’s Pakistan Resident Mission to oversee its operations in the country. In her new position, Ms. Fan will be responsible […]
ISLAMABAD, October 10, 2024 – FinVolution Group (NYSE: FINV), a leading fintech company, has officially launched its latest digital financial platform, Daira, in Pakistan. The launch, held in Islamabad on October 10, 2024, marks a pivotal step in the company’s global expansion strategy as it aims to deliver localized and secure digital financial services tailored […]
KARACHI – BankIslami Pakistan Limited has achieved a significant milestone by opening its 500th branch in Nankana Sahib, further strengthening its presence across the country. This achievement reflects the bank’s commitment to expanding its branch network while adhering to the principles of Islamic finance. In a statement, BankIslami emphasized that all of its branches nationwide […]
The State Bank of Pakistan (SBP) has introduced a new initiative, the Challenge Fund for SMEs (CFS), designed to support banks and financial technology providers (Fintechs) in developing and enhancing digital financial solutions. The initiative aims to address the financial needs of small and medium-sized enterprises (SMEs) by promoting innovation in banking products and services, […]
In a significant move to enhance its digital security infrastructure, Soneri Bank has officially onboarded 1LINK’s Device Fingerprinting and Enterprise Anti-Fraud Services, powered by TrustDecision. The initiative is aimed at strengthening fraud prevention mechanisms and ensuring a safer banking experience for customers. The signing ceremony was attended by key executives from both organizations. Representing Soneri […]
The State Bank of Pakistan (SBP) has released its annual report for Fiscal Year 2023-24, showcasing significant advancements in the country’s national payment ecosystem, with a notable shift towards digital payments. According to the report, retail payments saw extraordinary growth during FY24, with the volume of transactions rising from 4.7 billion to 6.4 billion, representing […]
In a bid to strengthen security measures, the State Bank of Pakistan (SBP) has issued new directives to all commercial and microfinance banks, urging them to upgrade their security and surveillance operations within and around branch premises and ATMs. The central bank’s move is part of efforts to enhance public safety and assist law enforcement […]