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 […]
KARACHI – Allied Bank Limited (ABL) has reinforced its position as a leader in digitally integrated banking solutions in Pakistan, demonstrating robust financial growth and ongoing commitment to innovation and community support. The bank announced notable achievements for the nine-month period ending September 30, 2024, with substantial improvements in assets, equity, and profit. ABL’s assets […]
BRUSSELS — Chinese online retailer Temu is under investigation by European Union regulators over potential breaches of the EU’s Digital Services Act (DSA), which seeks to prevent the sale of illegal products and safeguard consumers, officials announced Tuesday. If found in violation, Temu could face fines up to 6% of its global revenue. The European Commission’s investigation will […]
Singapore, October 31, 2024 – In a pioneering move within the global education technology sector, Pakistan’s leading edtech venture Knowledge Platform and Kenya’s premier edtech firm Eneza Education have merged to establish the world’s first African-Asian edtech venture. Operating under the Knowledge Platform name and headquartered in Singapore, the newly combined entity now serves over […]
Riyadh, October 2024 – Beta Lab, a deep tech fund and innovation studio, has launched a groundbreaking USD 300 million fund at the Future Investment Initiative (FII) 2024. Designed to stimulate cross-border innovation, this fund aims to bridge the Middle East and Southeast Asia, empowering technology-driven startups to expand into high-growth markets and tackle global challenges in […]
Lahore: The Board of Directors of The Bank of Punjab (BOP) convened on Wednesday to review and approve the Bank’s unaudited financial results for the first nine months ending September 30, 2024. The Board expressed satisfaction with the Bank’s strong performance and commended the management for delivering notable growth across all key financial metrics. BOP […]
In a major step toward accelerating payment digitization, the State Bank of Pakistan (SBP) and K-Electric (KE), Pakistan’s leading private power utility, have announced a partnership to initiate a Proof of Concept (PoC) under Raast’s Payment Initiation Service Provider (PISP) model. This collaboration marks a pivotal advancement in enhancing digital payment solutions for consumers across […]