{"id":5117,"date":"2025-06-04T15:41:32","date_gmt":"2025-06-04T10:41:32","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=5117"},"modified":"2025-06-04T15:41:32","modified_gmt":"2025-06-04T10:41:32","slug":"raqami-pilots-pakistans-first-fully-digital-islamic-retail-bank-with-codebase","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=5117","title":{"rendered":"Raqami pilots Pakistan\u2019s first fully digital Islamic retail bank with Codebase"},"content":{"rendered":"
In a major leap toward financial inclusion and digital transformation, Codebase Technologies<\/a> has successfully enabled the Pilot launch of Raqami Islamic Digital Bank<\/a>, taking an important step toward becoming Pakistan\u2019s first fully Shariah-compliant digital retail bank.<\/div>\n
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This milestone marks a defining moment in the country\u2019s financial sector evolution and aligns seamlessly with the State Bank of Pakistan\u2019s 2028 vision for 75% financial inclusion.<\/p>\n

With a population of over 240 million, predominantly Muslim and increasingly digital-native, Pakistan is ripe for a banking revolution. Despite growing demand, Islamic banking accounts for only 19 percent of total banking assets. At the same time, mobile penetration exceeds 75 percent, and two-thirds of the population is under 30. The opportunity is vast, and Codebase Technologies is helping lead the digital change.<\/p>\n

Built entirely on Codebase Technologies\u2019 Digibanc\u2122 platform, Raqami\u2019s Pilot rollout delivers an end-to-end digital banking<\/a> experience that is ethical, mobile-first, and inclusive. The solution includes frictionless onboarding, embedded Takaful insurance, and seamless integration with Pakistan\u2019s real-time payment system, Raast.<\/p>\n

\u201cPakistan is on the brink of a digital revolution, and we are proud to be pioneering this change. With Codebase Technologies as our partner, we have taken the first step with our restricted Pilot banking license towards launching a fully Shariah-compliant digital retail bank which will serve the unserved and underserved segments, long excluded from the traditional financial system,\u201d said Umair Aijaz, CEO of Raqami Islamic Digital Bank<\/a>.<\/p>\n

From the outset, Raqami has been designed to address real-world financial barriers. Digibanc\u2019s modular architecture enables rapid deployment of features such as tiered KYC onboarding, digital Takaful coverage, and mobile-based P2P payments.<\/p>\n

\u201cBuilding Pakistan\u2019s first Shariah-compliant digital retail bank<\/a> is more than a project, it\u2019s a mission,\u201d said Raheel Iqbal, Managing Partner at Codebase Technologies. \u201cWith Raqami, we\u2019ve created a scalable, secure, and future-ready digital bank designed for meaningful impact.\u201d<\/p>\n

Codebase Technologies\u2019 Digibanc\u2122, a proprietary, award-winning digital banking platform<\/a>, has been central to the launch. Fully cloud-native, microservices-based, and API-driven, Digibanc\u2122 enables rapid configuration, seamless regulatory alignment, and embedded innovation. It empowers financial institutions across MENA, South Asia, and APAC to reimagine digital banking with speed and scale.<\/p>\n

This launch not only reinforces Codebase Technologies\u2019 role as a key enabler of digital Islamic banking<\/a> but also underscores its growing influence in driving financial inclusion across emerging markets.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In a major leap toward financial inclusion and digital transformation, Codebase Technologies has successfully enabled the Pilot launch of Raqami Islamic Digital Bank, taking an important step toward becoming Pakistan’s first fully Shariah-compliant digital retail bank. This milestone marks a defining moment in the country’s financial sector evolution and aligns seamlessly with the State Bank […]<\/p>\n","protected":false},"author":1,"featured_media":5118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1299],"tags":[],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t