{"id":6018,"date":"2025-10-20T10:32:26","date_gmt":"2025-10-20T05:32:26","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=6018"},"modified":"2025-10-20T21:25:41","modified_gmt":"2025-10-20T16:25:41","slug":"saudi-arabian-fintech-barq-gets-in-principle-approval-from-sbp-to-set-up-emi-in-pakistan","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=6018","title":{"rendered":"Saudi Arabian fintech barq gets In-Principle Approval from SBP to set up EMI in Pakistan"},"content":{"rendered":"

barq Pakistan<\/a>\u00a0has obtained the In-Principle Approval (IPA) from the State Bank of Pakistan (SBP) to establish an Electronic Money Institution (EMI) Wallet in Pakistan, paving the way for its entry into one of the most promising digital financial markets in the region.<\/p>\n

barq Pakistan plans to introduce a full suite of digital financial services after getting necessary regulatory approvals \u2014 including e-wallets, mobile payments, and everyday transaction tools \u2014 fully aligned with the regulatory and security frameworks set by the SBP and global standards.<\/p>\n

\u201cThe launch of barq in Pakistan will mark a major milestone in our mission to empower digital lifestyles and advance financial inclusion,\u201d said Mr. Ahmed Alenazi, the founder and Chairman of Barq Pakistan. \u201cWe are dedicated to delivering a limitless wallet experience that fosters responsible financial behavior and meets the evolving needs of Pakistan\u2019s vibrant and rapidly growing digital economy\u201d.<\/p>\n

barq Pakistan continues to work closely with the regulatory authorities to complete all necessary technical and compliance requirements for full commercial licensing, ahead of the planned launch phase.<\/p>\n

barq\u2019s entry into Pakistan comes at a time when the country is witnessing rapid growth in the adoption of digital financial services, underscoring a nationwide push toward financial inclusion and innovation \u2014 values that remain at the core of barq\u2019s mission across all its markets.<\/p>\n

Dr. Zain Farooq, MD barq Pakistan, explained to Business Recorder that barq entered Pakistan by acquiring MyTM, a fintech he co-founded with Jawad Mahmood. According to him, barq is the fastest-growing wallet in the world. In July, it was reported that barq\u2019s KSA users had surpassed 7 million, representing 150 nationalities from around the globe.<\/p>\n

Source: Business Recorder<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

barq Pakistan has obtained the In-Principle Approval (IPA) from the State Bank of Pakistan (SBP) to establish an Electronic Money Institution (EMI) Wallet in Pakistan, paving the way for its entry into one of the most promising digital financial markets in the region. barq Pakistan plans to introduce a full suite of digital financial services after […]<\/p>\n","protected":false},"author":1,"featured_media":6025,"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":[2],"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