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 […]
Karachi, Pakistan — InfraZamin Pakistan and Sunridge Foods Limited, a subsidiary of Unity Foods Limited, have announced a strategic partnership to launch a PKR 2 billion Agri-Infrastructure Sukuk. This Shariah-compliant financing instrument, backed by InfraZamin’s AAA-rated guarantee, will support Sunridge Foods’ efforts to enhance production capacity and adopt sustainable energy solutions. The proceeds from this […]
ISLAMABAD — In a significant policy shift, the federal government has proposed a series of amendments to the State Bank of Pakistan (SBP) Act, which could pave the way for dual nationals to hold key positions within the central bank and introduce the legal use of digital currencies in Pakistan. The proposed changes, if approved […]
Islamabad: In a major policy shift, the federal government has proposed amending the State Bank of Pakistan (SBP) Act to pave the way for legalizing digital currencies, including cryptocurrencies. The proposed changes, if approved, would recognize digital currencies as legal tender in Pakistan, with flagship cryptocurrencies like Bitcoin potentially gaining legal status. The proposed amendments […]
Y Combinator-backed investment platform Elphinstone has announced its acquisition of Trikl, a Pakistan-based WealthTech startup supported by Orbit Startups. The financial terms of the deal remain undisclosed, but the acquisition marks a significant milestone as the first major consolidation in Pakistan’s WealthTech sector. Haseeb Siddiqui, Co-founder and CEO of Trikl, expressed his gratitude, stating, “I’m […]
October 28, 2024 – The State Bank of Pakistan (SBP) has granted Hubpay (Private) Limited approval to initiate pilot operations as an Electronic Money Institution (EMI) in Pakistan. This milestone marks a key step in Hubpay Pakistan’s plans to provide secure and accessible digital financial services, tailored for individuals and businesses in the country. Hubpay […]
Doha, Qatar: Dibsy, a prominent payment solutions provider, has partnered with QNB, the largest financial institution in the Middle East and Africa, to unveil an enhanced version of Visa Click to Pay for retailers in Qatar. This pioneering collaboration marks the first global implementation of Click to Pay with biometric authentication, establishing a new benchmark […]
KARACHI: United Bank Limited (UBL), one of Pakistan’s largest commercial banks, has formally submitted an offer to amalgamate Silkbank Limited, proposing to merge Silkbank’s operations into UBL. The development was disclosed in a notice sent to the Pakistan Stock Exchange (PSX) on Friday. In its statement, UBL shared, “Further to our disclosure dated 28 April […]