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 […]
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 […]