Raqami Islamic Digital Bank Ltd. (RIDBL), a frontrunner vying for Pakistan’s first digital retail bank license, has joined forces with 1LINK, the country’s leading payment service provider. This strategic partnership aims to revolutionize digital financial services within the Islamic banking sector.
The signing ceremony, held at 1LINK’s Karachi office, showcased the commitment of both organizations to innovation and excellence in digital banking. Key figures like RIDBL’s CEO Umair Aijaz and Coach Nadeem Hussain, alongside 1LINK’s CEO Najeeb Agrawalla and COO Bashir Khan, were present alongside their teams.
RIDBL distinguishes itself by adhering to Shariah principles and operating entirely digitally, prioritizing mobile-first accessibility over traditional branches. Through this collaboration, RIDBL customers will gain access to essential services like Interbank Funds Transfer (1IBFT) and 1BILL payments initially. The partnership plans to integrate PayPak services in the future, allowing seamless fund transfers across 32+ banks and payments to over 2,500 companies nationwide.
“We are thrilled to partner with 1LINK,” said RIDBL CEO Umair Aijaz. “This collaboration brings cutting-edge digital financial services to our customers, empowering them with efficient multi-channel payment solutions.” RIDBL Coach Nadeem Hussain echoed this sentiment, highlighting the partnership’s role in advancing digital banking solutions.
Najeeb Agrawalla, CEO of 1LINK, praised the alliance’s potential to deliver customized financial solutions for diverse segments within Islamic banking. 1LINK’s COO, Bashir Khan, emphasized the importance of this partnership in fostering innovation and tailored financial products for customers.
RIDBL’s journey to redefine digital banking prioritizes establishing a fully Shariah-compliant digital bank that prioritizes innovation and a customer-centric approach.