Meezan Bank Limited (PSX: MEBL) has disclosed a robust financial performance for the quarter ending March 31st, 2024 (1Q2024), with a profit after tax (PAT) reaching Rs. 25 billion, marking a substantial 65 percent increase year-on-year (YoY). According to Arif Habib Limited, the bank’s earnings were propelled by a YoY uptick in income. However, a […]
Mobilink Microfinance Bank, Pakistan’s leading digital microfinance institution, has announced a remarkable 97% increase in revenue during the first quarter of 2024 compared to the same period last year, setting the stage for a powerful start to the year. The bank’s Profit before Tax (PBT) also experienced significant growth, soaring by 110%. This robust financial […]
Telenor Microfinance Bank (TMB), the operator of Pakistan’s leading digital financial services platform easypaisa, has announced its financial results for the year ending December 31, 2023, showcasing a significant turnaround with a profit before tax amounting to PKR 1.2 billion. The impressive performance comes on the heels of securing the In-Principle Approval for a Digital […]
In a significant stride towards digitalization in the insurance sector, the Securities and Exchange Commission of Pakistan (SECP) has officially registered M/s Salaam Family Takaful Limited as the country’s pioneer digital family takaful operator. This milestone follows the implementation of a new registration regime, introduced via an amendment to the Insurance Rules, 2017, as notified […]
In a significant stride towards bolstering agricultural financing, Zaraee has announced a strategic collaboration with Bank Alfalah. The partnership aims to revolutionize access to loan facilities for farmers and agribusinesses through Zaraee‘s online platform, www.zaraee.pk. The Memorandum of Understanding (MOU) signing between Zaraee and Bank Alfalah signifies the formalization of their alliance, which is geared […]
The role of AI technologies in Pakistan’s Fintech industry is pivotal, addressing unique challenges and opportunities within the region. AI-powered solutions facilitate financial inclusion by offering innovative services accessible through mobile devices, particularly in underserved rural areas. These technologies enhance security through fraud detection and risk management, leveraging vast transaction data to identify anomalies in […]
In a remarkable feat, JS Bank, one of Pakistan’s rapidly expanding financial institutions, has announced its surpassing of Rs500 billion in deposits, marking a significant milestone for the bank. This achievement comes on the heels of a strong performance in 2023, where the bank reported a substantial Profit Before Tax of Rs8.5 billion, showcasing a […]
Beijing, April 9, 2024 – In a significant development, NayaPay, a leading fintech platform in Pakistan, has forged a partnership with Alipay+ to facilitate direct payments at 80 million merchants across China through its NayaPay app. This groundbreaking initiative marks the first direct payment channel between Pakistan and China, strengthening commercial ties between the two […]
Easypaisa, a leading digital financial services provider, has revealed an exciting partnership with Idenfo to introduce cutting-edge facial recognition technology within its mobile application. This strategic collaboration aims to bolster security measures by offering state-of-the-art solutions for facial comparison, liveness detection, anti-spoofing, verification, and encryption, seamlessly integrated into the user experience. The integration of facial […]
In a strategic move aimed at addressing the pressing concerns of ride-hailing drivers in Pakistan, Muawin has forged a partnership with Yango to introduce innovative fuel credit solutions. This collaboration will empower Yango’s partner drivers to access fuel on credit at various Shell fuel stations across the city, all managed seamlessly through a user-friendly mobile […]