aik by BankIslami has launched aikPay – Pakistan’s first Shariah compliant Raast enabled QR Payment Gateway. Built on the State Bank of Pakistan’s Raast infrastructure, aikPay enables real time online payments through dynamic QR codes, allowing customers to pay instantly from their bank accounts and enabling merchants to receive payments securely through a smooth checkout […]
Raqami Islamic Digital Bank (RIDB), backed by the Kuwait Investment Authority, plans to invest $100 million over the next five years as it prepares to launch commercial operations in February, marking Pakistan’s first fully Shariah-compliant digital retail bank, Bloomberg reported. The Karachi-based lender has completed its pilot phase and is targeting at least one million customers within […]
The Universal Service Fund (USF) and Jazz officially signed contracts on Wednesday for four landmark Next Generation-Broadband for Sustainable Development (NGBSD) projects. The ceremony was held at the USF Head Office. IT Minister Shaza Fatima attended the event as chief guest. The agreements were formally signed by Chaudhry Mudassar Naveed, CEO of USF, and Aamir […]
Davos: Federal Minister for Finance and Revenue Muhammad Aurangzeb met Visa Group President Oliver Jenkyn on Wednesday on the sidelines of the World Economic Forum (WEF) Annual Meeting to discuss innovation in digital payments and Pakistan’s transition toward a modern, digitally enabled economy, according to a statement from the Finance Division. During the meeting, both […]
United Bank Limited (UBL) has executed Pakistan’s largest-ever Interest Rate Swap (IRS) transaction with Pakistan Mobile Communications Limited (Jazz), with a notional value of Rs. 75 billion, marking a major milestone in the development of the country’s financial derivatives market. Under the transaction, Jazz has converted its floating-rate borrowing exposure into a fixed-rate obligation, allowing the telecom […]
Visa, a global digital payments company, and easypaisa Digital Bank have entered into a strategic partnership aimed at expanding card-based digital transactions across Pakistan and international markets, the companies said on Tuesday. Under the agreement, the two sides will strengthen collaboration to increase the issuance and usage of Visa-branded debit and credit cards, with a […]
Bank of Khyber (BoK) has been recognized among the top-performing banks in the Asia-Pacific region in terms of total shareholder returns for 2025, according to a recent report by S&P Global Market Intelligence. The report highlights the exceptional performance of banks, with Pakistani institutions leading the regional rankings. As per S&P Global’s analysis, Bank of […]
Meeting focused on expanding cashless payments, government digitization, financial inclusion beyond major cities Talks come as Pakistan accelerates IMF-backed reforms, pushes digital modernization of public finances ISLAMABAD: Pakistan’s finance minister has met senior executives of payments giant Visa to discuss advancing digital payments, financial inclusion and broader economic reforms as the government accelerates its digitization […]
Seven Pakistani banking stocks emerged among the top-performing lenders in the Asia-Pacific region in 2025, driven by low base valuations, improving profitability, elevated interest rates, balance-sheet clean-up, and renewed investor confidence in Pakistan’s macroeconomic outlook. According to data compiled by S&P Global Market Intelligence, Pakistani banks dominated the rankings of best-performing Asia-Pacific bank stocks based […]
Islamabad: Askari Bank Limited has reaffirmed its commitment to strengthening Pakistan’s economy by accelerating its transition toward a stable, ethical, and inclusive financial system through the expansion of Shariah-compliant banking services. Islamic Banking is now available across all branches of Askari Bank, marking a significant milestone in the Bank’s transformation journey. The initiative aligns with […]