Karachi, November 6, 2024 – The State Bank of Pakistan (SBP) has granted in-principle approvals to Toko Lab Private Limited and Accept Technologies Private Limited (operating as PayMob) to operate as an Electronic Money Institution (EMI) and Payment System Operator (PSO)/Payment Service Provider (PSP), respectively. These entities are now expected to establish their operational infrastructure […]
Lahore – In a landmark move to bolster Punjab’s livestock sector, a Memorandum of Understanding (MoU) was signed for the Chief Minister Punjab’s Livestock Card at the Bank of Punjab Head Office in Lahore. The initiative marks the beginning of a comprehensive registration process for the Livestock Card, aimed at supporting and uplifting the province’s […]
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 [5th November 2024] — Neem, a leading embedded finance platform in Pakistan, has secured an additional $4 million credit facility from DNI group, a global investment firm operating in 32 countries and an existing partner/investor in Neem, to expand Neem Paymenow, its earned wage access solution, across Pakistan. This partnership marks a pivotal […]
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 […]
Sharjah, UAE — Warburg AI, an emerging innovator in artificial intelligence for the financial sector, has raised $250,000 in seed funding to accelerate its mission of reshaping financial services through advanced AI-driven technologies. Founded in September 2024, the company has rapidly attracted investor confidence, securing its first funding round just months after its inception. Based in […]
Lahore, Pakistan – The LUMS Centre for Entrepreneurship (LCE) has announced the induction of its first-ever cohorts for two flagship programmes: the LCE Idea Launch Incubation programme and the Slingshot Accelerator programme. Both initiatives aim to foster a robust entrepreneurial ecosystem in Pakistan, supporting start-ups at different stages of their development. The LCE Idea Launch […]
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 […]
CAIRO: Fintech experts believe Saudi Arabia is positioned to lead the regional landscape in decentralized finance, and also solve some challenges on the horizon. With active support from the Saudi Central Bank, also known as SAMA, and initiatives like Vision 2030, the Kingdom is creating an ideal environment for solutions to so-called DeFi to flourish. […]