Bank Islami Appoints New Chief Digital Officer to Drive Transformation
Bank Islami has appointed Waqas Anis its new Chief Digital Officer. With expertise in digital banking and fintech, he will lead the bank’s efforts to strengthen digital services, enhance customer experience, and expand technology partnerships.
Jubilee Life and UBL Partner to Launch Innovative Traditional Endowment Insurance Products
Jubilee Life Insurance and UBL have launched traditional endowment products offering guaranteed maturity benefits, early break-even, surrender value, and reversionary bonuses, aimed at strengthening financial security and inclusion in Pakistan.
Pakistan Rolls Out CBDC Pilot to Transform Financial Inclusion and Cut Cash Costs
The State Bank of Pakistan launches a pilot of its central bank digital currency (CBDC), aiming to digitize payments, lower cash handling costs, and bring millions of unbanked citizens into the formal economy.
SBP Establishes Unified Account for Prime Minister’s Relief Fund Donations
The State Bank of Pakistan (SBP) has opened a single unified account for the Prime Minister’s Relief Fund, directing all banks to collect donations through branches, cheques, and digital channels, while also facilitating overseas contributions.
Govt Seeks SBP Review on Rs3.5 Billion Raast QR Subsidy Impact
The government has tasked the State Bank of Pakistan to prepare a detailed report on the Rs3.5 billion Raast QR subsidy, assessing its impact on merchant adoption, transaction volumes, and the growth of digital payments.
SBP Orders Banks to Deploy Cash Deposit Machines Nationwide by 2028
The State Bank of Pakistan has directed commercial banks to install Cash Deposit Machines across 25% of their branch network by 2028 to promote self-banking, enhance customer convenience, and strengthen digital infrastructure.
Ahmed Naazer Minhaj Appointed President & CEO of ASA Microfinance Bank
ASA Microfinance Bank has appointed Ahmed Naazer Minhaj as its new President and CEO, bringing over 25 years of leadership experience to drive financial inclusion and support Pakistan’s low-income communities.
Branding Pakistan at Money20/20 Middle East
Pakistan takes center stage at Money20/20 Middle East in Riyadh, with government leaders, financial regulators, and fintech innovators representing the nation’s digital finance potential on a global stage.
Raast at the Crossroads: Paving Pakistan’s Path to a Cashless Future
Raast, Pakistan’s real-time digital payment system launched by the State Bank, stands at a defining moment as it pushes the nation toward a cashless economy. With new leadership, growing adoption, and integration across fintechs, the platform is set to reshape financial inclusion, remittances, and economic transparency.
The Future of Digital Banking in Pakistan: Transformative Shifts
Pakistan’s digital banking ecosystem is evolving rapidly with initiatives like Raast, Roshan Digital Accounts, and the SBP’s regulatory push. These shifts are driving financial inclusion, innovation, and a move toward a cashless economy.