“This new category of institutions will complement efforts of government in establishing an enabling environment to empower stakeholders in trade & commerce,” said finance minister. In order to build a…
With the new digital banking licence, the company announced plans to open a new digital bank—HugoBank—in Pakistan in the coming months. HugoBank has received a no-objection certificate (NOC) from the…
The digital banks are expected to provide all banking services through digital means without any need for their customers to visit the bank branches physically. For the first time, the…
Before joining Y-Combinator in 2021, the startup raised $5.5 million in pre-seed funding. This was one of the largest pre-seed transactions in the Middle East, Africa, and Pakistan. Last year,…
Certain taxes, such as the Federal Board of Revenue’s (FBR) mobile phone import levy, can be paid through banks’ Alternate Delivery Channels (ADCs). Due to an increase in fraudulent transactions,…
FuiouPay provides comprehensive enabling solutions through their seventy five intellectual property licenses and several patented software. The launch of Pakistan’s first agri-fintech app (AFT), Digitt+, powered by Akhtar Fuiou Technology,…
RE financing through commercial banks was underway for 2,300 RE projects totaling 1,600 MW, but this financing was also available to individual consumers at a discounted rate of 6%. Economists,…
Mobile phone banking increased by 100.4% to 387.5 million during the year, while internet banking increased by 51.7% to 141.7 million, according to the report. The size of the digital…
Digitt+ is committed to digitising the agricultural ecosystem and offering financial inclusion to farmers and the unbanked through its technology. Digitt+, Pakistan’s first agriculture-focused Fintech, announced today that the State…
Punjab receives major share of agricultural credit, with remaining provinces receiving only a token share. Banking infrastructure in Pakistan, primarily concentrated in urban areas. The agriculture sector in Pakistan is…
A banking-as-a-service startup, has closed on a $100 million Series C round of funding led by Insight Partners. Existing backers Accel, Better Tomorrow Ventures and Flourish Ventures also participated in…
A New Era of Banking in Pakistan. The Roshan Digital Account is a major new initiative of the State Bank of Pakistan, in collaboration with commercial banks operating in Pakistan.…