The Bank of Azad Jammu & Kashmir (BAJK) has taken a decisive step toward reshaping its future by signing a landmark agreement with the iConsult Consortium, marking the start of its journey to become a fully digital bank. This strategic partnership is poised to modernize BAJK’s entire banking infrastructure, introducing next-generation core banking and digital channel solutions designed to deliver faster, more efficient, and customer-friendly services.
The iConsult Consortium is a collaboration of four prominent technology players: Silverlake from Malaysia, iConsult (Pakistan), Megaplus Pakistan (Islamabad), and iTANZ Pakistan (Karachi). Together, they bring a wealth of expertise in deploying advanced financial technologies across diverse markets. This partnership aims to equip BAJK with a robust digital backbone, ensuring it is well-prepared to meet the evolving expectations of customers in a rapidly digitizing economy.
A formal signing ceremony was recently held in Islamabad, attended by high-profile dignitaries including Azad Jammu & Kashmir Prime Minister Anwarul Haq, Finance Minister Abdul Majid Khan, Speaker Latif Akbar, along with BAJK CEO Shahid Mir and key executives from the consortium companies. The presence of the region’s top leadership underscored the strategic significance of this digital leap for AJK’s financial sector.
Speaking at the occasion, Shahid Mir highlighted that this initiative will transform BAJK into a stronger and smarter institution, one that is better positioned to deliver seamless banking experiences across all touchpoints. With an existing network of 88 branches and plans for continued expansion, the bank’s investment in cutting-edge technology will not only optimize its internal operations but also enable it to reach new customer segments with tailored digital solutions.
For customers, this transformation promises a completely refreshed banking experience. The deployment of the new core banking system and integrated digital platforms will streamline processes, reduce transaction times, and provide customers with enhanced access to banking services through mobile apps, online portals, and future-ready digital products. It also sets the stage for BAJK to roll out innovative offerings that align with global banking trends, making it easier for individuals and businesses in the region to manage their finances securely and conveniently.
Beyond the immediate impact on operational efficiency and customer convenience, this move is expected to have broader economic benefits for the region. By embedding digital capabilities at the heart of its operations, BAJK is contributing to building a more inclusive financial ecosystem in Azad Jammu & Kashmir, one that supports entrepreneurship, encourages savings, and facilitates quicker access to credit.
This strategic alignment with global technology leaders also signals a growing confidence in Pakistan’s regional banking institutions to adopt international best practices and tech standards. As financial services increasingly pivot towards digital-first models, BAJK’s partnership with the iConsult Consortium positions it at the forefront of this evolution in Pakistan’s banking landscape.
In the coming months, stakeholders will be watching closely as BAJK begins the rollout of these systems, setting a new benchmark for digital banking in the region. The initiative not only underscores BAJK’s ambition to redefine what banking looks like for its customers today but also lays the groundwork for a resilient, future-ready financial institution that can adapt to the demands of tomorrow’s economy.