October 3, 204 – Pakistan Microfinance Investment Company (PMIC) has announced the launch of its new Shariah-compliant suite of financing products, expanding its offerings beyond conventional microfinance wholesale financing. This initiative includes key Islamic finance instruments such as Mudarabah and Musharakah, which will now be available to all of PMIC’s borrowing institutions. These products are […]
KARACHI – Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), emphasized the critical role of innovation in driving Pakistan’s economic growth, during his keynote address at the 13th Bank of the Future Forum (BoFF), organized by Systems Limited and Temenos. Addressing an audience of industry leaders, Ahmad underscored that rapid technological advancements have […]
In a significant move aimed at accelerating the transition of conventional banking to Islamic banking, the State Bank of Pakistan (SBP) has revised the criteria for converting conventional banking branches into Islamic banking branches. This step aligns with the Federal Sharia Court’s directive to eliminate interest-based banking in the country and is part of the […]
In a significant move towards enhancing digital payment solutions, 1LINK (Pvt) Limited has announced its partnership with the National Police Foundation, onboarding them as a Bill Aggregation Partner on its 1BILL platform. This collaboration is expected to streamline the payment of various services provided by the National Police Foundation through 1BILL’s secure and efficient digital […]
KARACHI: The State Bank of Pakistan (SBP) has expressed full confidence in the country’s digital payment infrastructure, reaffirming its capability to support the government’s increasing drive towards a cashless economy. Speaking at the “Future Banking Summit 2024” organized by Total Communications on Monday, Syed Sohail Javaad, Executive Director of the SBP’s Digital Financial Services Group, […]
Pakistan – Telemart, one of Pakistan’s leading e-commerce platforms, has partnered with Alif Innovations to introduce the country’s first debit and credit card instalment plan for smartphones, addressing the growing challenge of smartphone affordability amid rising inflation. This innovative collaboration will enable millions of debit and credit card holders across Pakistan to purchase smartphones worth […]
In a landmark move to track and enhance the progress of digital payments, Pakistan is set to introduce a national Digital Payment Index (DPI), aiming to assess the penetration and effectiveness of digital payment infrastructure across the country. The initiative will provide a crucial tool for policymakers, financial institutions, and private sector players to gauge […]
Islamabad, Pakistan – The Pakistan Housing Authority Foundation (PHA-Foundation) has announced a strategic partnership with Timepay Pakistan to revolutionize digital payment solutions within the housing sector. This collaboration marks a pivotal step toward enhancing financial transactions for PHA-Foundation members and stakeholders by offering fast, secure, and user-friendly digital payment services. The partnership aims to eliminate […]
Karachi, Pakistan – September 26, 2024: International ride-hailing service Yango, part of the global Yango Group, has partnered with Waada, a leading Insurtech company in Pakistan, to introduce free Ride Insurance. This collaboration offers one of the most extensive safety coverages provided by any ride-hailing service in the country, benefiting both passengers and partner drivers […]
Islamabad, September 25 (APP): Jazz, Pakistan’s leading digital operator, has strengthened its commitment to promoting digital and financial literacy, economic empowerment, and reducing the digital divide through a strategic Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP). The collaboration aims to foster inclusive development and sustainable economic growth, leveraging technology-driven solutions to […]