Fintech News Pakistan

AED Stablecoin LLC has received in-principle approval from the Central Bank of The UAE to issue the country’s first AED-backed #stablecoin, AE Coin, under the newly established "Payment Token Services Regulation" (Circular No. 2/2024, dated 7 June 2024). This milestone positions AED Stablecoin as the first entity in the #UAE to introduce a stablecoin regulated by the Central Bank, aligning with the UAE’s Digital Government Strategy 2025 and the government’s vision for a cutting-edge digital economy. Read more: https://lnkd.in/eQVF7pmP Al Maryah Community Bank, Mohammed Wassim Khayata #FintechNewsPakistan #AlMaryahCommunityBank #MBank #AEDStablecoin #IAP #AECoin #Approval #AED #Tokenization #Crypton #CryptoCurrency #Web3 #Blockchain #DeFi #digitalEconomy #FutureofFinance #UAE #MiddleEast #MENA #PakistanFintechNews

The Asian Development Bank (ADB) has announced the appointment of Emma Fan as its new Country Director for #Pakistan. Ms. Fan officially assumed her role today, joining the #ADB's Pakistan Resident Mission to oversee its operations in the country. Read more" https://lnkd.in/dukKagWG Asian Development Bank (ADB), Emma Fan #FintechNewsPakistan #ADB #EmmaFan #CountryDirector #Pakistan #NewAppointment #PakistanFintechNews

FinVolution Group, a leading #fintech company, has officially launched its latest digital financial platform, #Daira, in Pakistan. The launch, held in Islamabad on October 10, 2024, marks a pivotal step in the company's global expansion strategy as it aims to deliver localized and secure digital financial services tailored specifically for the Pakistani market. Read more: https://lnkd.in/dRxPtgCZ FinVolution, Sheikh Omer Nasim, Houpeng REN, Saba Ali, SECP, xiaoyan song, Richard Ding, Chonghang Ruan #FintechNewsPakistan #FinVolution #FinVolutionGroup #Daira #FintechPlatform #Launching #Pakistan #Tech #Innovation #Fintech #Expansion #FinancialInclusion #DigitalFinance #FutureofFinance #Pakistan #China #Beijing

BankIslami Pakistan Limited has achieved a significant milestone by opening its 500th branch in #NankanaSahib, further strengthening its presence across the country. This achievement reflects the bank's commitment to expanding its branch network while adhering to the principles of Islamic finance. In a statement, #BankIslami emphasized that all of its branches nationwide are fully operational, offering premium banking services grounded in Shariah-compliant practices. The inauguration of the 500th branch not only highlights the bank's dedication to providing interest-free banking but also reinforces its vision of delivering ethical financial solutions. Read more: https://lnkd.in/dRZmT-ia BankIslami Pakistan Limited, State Bank of Pakistan (SBP), Pakistan Banks' Association, Rizwan Ata, Tanweer Abedi, Muhammad Tahir Bhatti, Muhammad Muddasar, Syed Jahanzaib Ali, Erum Qureshi, Manzoor Ahmed, Qazi Sharjeel Ahmed, Shuja Siddiqui, Syed Afnan Altaf, Muhammad Faisal Jilani #FintechNewsPakistan #BankIslami #500Branches #Banking #IslamicBanking #InterestFreeBanking #DigitalBanking #Milestone #Growth #Expansion #SBP #Pakistan #fintech #PakistanFintechNews

The State Bank of Pakistan (SBP) has introduced a new initiative, the Challenge Fund for SMEs (CFS), designed to support #banks and financial technology providers (Fintechs) in developing and enhancing digital financial solutions. The initiative aims to address the financial needs of small and medium-sized enterprises (SMEs) by promoting #innovation in #banking products and services, ultimately improving access to finance for the #SME sector. Read more: https://lnkd.in/dprGqMr8 State Bank of Pakistan (SBP), Pakistan Banks' Association #FintechNewsPakistan #SBP #PBAs #ChallengeFund #SMEsFinancing #SMEs #DigitalInnovation #Tech #Innovation #AccesstoFinance #Fintech #FinancialServices #Banks #SMEsSectors #Pakistan #PakistanFintechNews

Dubai-based Web3 gaming developer PiP World has successfully raised $10 million in capital from Exinity, according to a company statement. The funds will support PiP World's mission to build an educational-focused ecosystem, which currently includes a Roblox stock simulator and a Telegram-based game. Read more: https://lnkd.in/dFyTGqBr PiP World, Exinity, Saad Bachir Al Naja, Thajudeen Kadhar, Rayan T., Mus Naja #FintechNewsPakistan #PiPWorld #Exinity #Funding #SeedRound #Fintech #CryptoAssets #Blockchain #Crypto #CryptoCurrency #Web3 #CryptoGaming #DigitalAssets #DeFi #Tokenization #Gaming #UAE #MiddleEast #MENA #PakistanFintechNews #Dubai #VCs #Pakistan #CapitalInvestment #Robloxstocksimulator #CryptoStartups #UAEStartups

MultiBank Group, the world’s largest traditional financial derivatives institution, has announced the official launch of its operations in the #UAE through its subsidiary, MEX Digital FZE. The company has secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority [VARA] and will operate under the MultiBank.io brand. Read more: https://lnkd.in/dpsH4KcY MultiBank Group, MultiBank.io, Georges Mouawad, Antonio Bileci #FintechNewsPakistan #MultiBankGroup #MultiBank #MEXDigitaltal #VARALicense #CryptoAssets #Blockchain #Crypto #CryptoCurrency #Web3 #CryptoExchange #DigitalAssets #DeFi #Tokenization #CryptoTrading #UAE #MiddleEast #MENA #PakistanFintechNews #Dubai #GlobalExpansion #CryptoRegulation #FinancialPowerhouse #Trading #Pakistan

In a significant move to enhance its digital security infrastructure, Soneri Bank Limited has officially onboarded 1LINK (Pvt) Limited’s Device Fingerprinting and Enterprise Anti-Fraud Services, powered by TrustDecision. The initiative is aimed at strengthening fraud prevention mechanisms and ensuring a safer #banking experience for customers. Read more: https://lnkd.in/dWJ3vann Soneri Bank Limited, 1LINK (Pvt) Limited, TrustDecision, Najeeb Agrawalla, Muhtashim Ashai, Ahsan Mushahid, Salman Ali, Maliha Khan, Suleman Hasan, Jackal Ma, Syed Ali Raza Naqvi #FintechNewsPakistan #SoneriBank #1LINK #TrustDecision #Fingerprinting #AntiFraudServices #DigitalSecurity #Digitalpayments #Tech #Innovation #Security #Banking #BankinginPakistan #AntiFraud #CreditRisk #Compliance #Fintech #Pakistan #PakistanFintechNews

The State Bank of Pakistan (SBP) has released its annual report for Fiscal Year 2023-24, showcasing significant advancements in the country's national payment ecosystem, with a notable shift towards digital payments. According to the report, retail payments saw extraordinary growth during FY24, with the volume of transactions rising from 4.7 billion to 6.4 billion, representing a 35% increase. The value of these transactions also surged, jumping from Rs. 403 trillion to Rs. 547 trillion. Digital payments played a major role in this transformation, with their share of total retail payment volumes growing from 76% in FY23 to 84% in FY24. Read more: https://lnkd.in/dEdptsTV State Bank of Pakistan (SBP), Pakistan Banks' Association #FintechNewsPakistan #SBP #PBA #DigitalPayments #RetailPayments #Payments #PaymentInnovation #Tech #innovation #DigitalTransaction #digitalBanking #OnlinePayments #Pakistan #Fintech #FintechNews #PakistanFintechNews

In a bid to strengthen security measures, the State Bank of Pakistan (SBP) has issued new directives to all commercial and #microfinance banks, urging them to upgrade their security and surveillance operations within and around branch premises and #ATMs. The central bank's move is part of efforts to enhance public safety and assist law enforcement in addressing terrorism, fraud, and other criminal activities. Read more: https://lnkd.in/d5ZyamHX State Bank of Pakistan (SBP), Pakistan Banks' Association #FintechNewsPakistan #SBP #PBA #Security #Banks #ATMs #Fraud #SecurityCameras #Banking #MicrofinanceBanks #Pakistan #Fintech #FintechNews #PakistanFintechNews