Allied Bank, one of Pakistan’s prominent commercial banks, has entered into a strategic collaboration with the Lahore University of Management Sciences (LUMS) through its Center for Digital Asset Research (CeDAR). The partnership, formalized through a Memorandum of Understanding (MoU) signed at the LUMS campus, is set to accelerate innovation in blockchain technologies, explore practical applications for digital assets, and cultivate future-ready talent for the country’s financial sector.
The signing ceremony brought together senior representatives from both institutions. Allied Bank was represented by Mujahid Ali, Chief Technology & Digital Transformation, Mohsin Mithani, Chief Digital Officer, and Muhammad Zaman, Group Head of Digital Transformation & Innovation. LUMS leadership included Dr. Tariq Jadoon, Provost, Dr. Zartash Afzal Uzmi, Principal Investigator, Dr. Basit Shafia, Co-Principal Investigator, and Ali Khawaja, Director.
Under this collaboration, Allied Bank and CeDAR will engage in advanced research initiatives aimed at unlocking the potential of blockchain across different sectors, with a particular emphasis on the financial services industry. Jointly developed pilot projects will test blockchain-driven solutions, while dedicated training programs will be designed to build the next generation of experts in emerging technologies.
The initiative reflects the growing recognition that effective digital transformation in the banking sector requires strong synergies between academia and industry. By leveraging LUMS’ research capabilities and Allied Bank’s operational expertise, the partnership aims to deliver solutions that address real-world challenges, promote financial inclusion, and support the creation of effective policy frameworks for responsible technology adoption in Pakistan.
For Allied Bank, this engagement is part of a broader commitment to integrating next-generation technologies into its operations. The bank continues to explore AI-powered platforms, digital financial services, and emerging technology adoption as part of its vision to remain at the forefront of Pakistan’s evolving banking landscape. The agreement with CeDAR aligns with Allied Bank’s strategy to invest in skill development, innovation, and collaborative models that strengthen the financial ecosystem.
LUMS, through CeDAR, plays a pivotal role in connecting academia, policymakers, and industry leaders to create practical and scalable solutions for Pakistan’s digital economy. The center’s work spans blockchain research, digital asset applications, and frameworks that enable transparency, efficiency, and security in transactions. By focusing on talent development and knowledge sharing, CeDAR aims to equip professionals with the expertise required to navigate the opportunities and challenges of emerging digital finance systems.
This partnership is expected to contribute significantly to Pakistan’s innovation landscape, positioning the country to harness the transformative potential of blockchain. It also sets an example for how collaborative approaches can shape sustainable progress in digital finance and strengthen the foundations for a modern, technology-driven economy.