Shahzad Shahid

Farhan Hassan, Head of easypaisa Wallet Business, shares his insights with VCast Online at the Pakistan Mobile Summit, discussing how digital banking is revolutionizing the world. With 1 in every 4 Pakistani adults having a registered easypaisa account and around 4000 transactions occurring every minute on the platform, digital banking has become a part of our daily lives. Trends now indicate that people are ready for the digital disruption in the financial sector. The future of banking speaks for itself. #digitalbank #easypaisa

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Pakistan’s leading digital microfinance bank, Mobilink Microfinance Bank Ltd. has partnered with Systems Limited to leverage the power of Temenos Core, modernizing its core banking platform and boosting business and operational capabilities. Under this partnership, the Bank – being the first in Pakistan to upgrade its platform to R23, is positioned to deliver a premium customer experience, streamline internal processes, and achieve unparalleled agility within the ever-evolving financial landscape. Mobilink Bank is part of VEON group, a global digital operator serving nearly 160 million customers across six markets (7% of the world’s population). As part of its digital transformation journey, the Bank is upgrading its core banking system to the latest version and will deploy on a cloud-based infrastructure (OKE), allowing greater flexibility for all its customers. Building on its commitment to improving customer experience, the Bank will implement a suite of cutting-edge solutions from Temenos, a leading provider of banking software. “At Mobilink Bank, we are dedicated to empowering our customers through financial inclusion and exceptional service. This strategic partnership marks a significant step forward in our digital transformation journey. By leveraging Temenos’ globally recognized core banking platform and Systems Limited’s proven expertise, we will deliver a future-proof infrastructure that enables us to offer our customers a personalized and seamless banking experience,” said Aamir Ibrahim, CEO Jazz and Chairman, Mobilink Microfinance Bank Ltd. Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank said: “Our partnership with Systems Limited will modernize our core banking infrastructure, enabling us to enhance customer experience through personalized digital offerings, based on the evolving market trends for unlocking new growth avenues. This partnership will further streamline our banking processes, optimize our technology roadmap and position us as a leader in the digital banking landscape.” “We look forward to upgrading and running the Core banking system on a Cloud Native Platform for Mobilink Bank. By leveraging our extensive experience and regulatory accelerators like Pakistan Model Bank, we are well-equipped to transform the Bank’s platform seamlessly to meet local regulations and practices, said Ammara Masood, Global Industries GM BFS, Systems Limited. Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said, “We’re delighted that Mobilink Bank has chosen to upgrade to the latest version of Temenos core banking in the cloud, enabling it to scale elastically, operate more efficiently and innovate faster. This is a further vote of confidence in Temenos’ modern composable banking platform from a fast-growing, innovative digital bank and, together with Systems Limited, we look forward to helping Mobilink to continue expanding its customer base.” #lougheeloug

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Banking Simplified! Tap less, Do More! Experience seamless banking with our revamped mobile app. Download Now! #NBP #TheNationsBank #NBPDigitalApp #NationalBankofPakistan #BankingApp

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Pakistan Microfinance Investment Company (PMIC) launched second round of the Challenge Fund under “Development of Digital Credit Scoring Model” to achieve its triple bottom line mandate by offering a competitive environment to participating organizations for deploying innovative product verticals and business models. PMIC and Qarar Pakistan hosted a pilot testing session of a Digital Credit Scoring Model for the microfinance sector in Pakistan. These sessions took place in Lahore and Karachi. Qarar introduced the "expert-based" scoring model to Microfinance Institutions (MFIs) to utilize the scoring model for evaluating new acquisitions. A training session was conducted to guide users on how to capture and interpret the results from the model effectively. This dashboard allows MFIs to input application information, generating a score and associated risk category for each applicant. This initiative aims to improve the accuracy and efficiency of credit assessments in the microfinance sector, potentially leading to better financial inclusion and risk management.

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Raqami Islamic Digital Bank (RIDB) and TASDEEQ sign a foundational partnership agreement for credit analytical services. The agreement was signed by RIDB CEO, Mr. Umair Aijaz, FCCA, ACA and TASDEEQ COO, Mr. Omar Khalid RIDB is dedicated to fostering a transformative digital banking landscape with a clear mission: to lead in customer-centric, Shariah-compliant digital banking in Pakistan. Whereas TASDEEQ, with its extensive database of 28 Million Unique Borrowers, alternative credit data, and advanced technology, can significantly enhance the banking sector outreach, especially for digital banks. The partnership not only aims to collaborate on core products but also will explore innovative pilot projects that will benefit the overall banking industry to increase its footprint. #TASDEEQ #RAQAMI #digitalbanking #creditscoring #partnership #financialinclusion

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https://lnkd.in/dRrpjTH5 Policy rate announcement by #PAKISTAN #CENTRAL #BANKThis is crucial week for the financial sector since four central banks will decide on interest rates. First Central Bank to declare its policy rate today is #SBP. It has an abundance with unresolved problems to manage. Due to excessive spending versus lower revenue collection and disappointing export growth, debt and deficit finance throughout the years is constantly multiplying. There are very few choices left. Two clear facts that cannot be missed after hitting Rs 12 trillion on July 5th, the SBP's liquidity injection (#OMO) is currently hovering around (Conventional+Islamic =11,878 billion) and Advance to Deposit Ratio (#ADR) sliding below 40% is quite alarming. Higher policy rates are already hitting the banks with Non-Performing Loans (NPLs). In this context, #SBP issued a circular last week guiding banks on handling their current outstanding loan stress. It says that after the board approval, it wants banks management to create a comprehensive plan. Though it is early to say, the (#NPL) situation has gotten worse rather than better. Lately, the market has been talking about bank lending. With close to Rs. 12 trillion #OMO injected to banks to purchase #government #securities, this is not feasible as it will result rising debt. With limited liquidity, temporary bank financing is only a stop gap arrangement. The industry and economy cannot expand and create jobs. Sadly, all those unreal experts who have been scribbling narratives claiming the strong #Pak #Rupee was/is the cause of economic crisis are failing to inform the citizens on when the economy will turn around and when the people will be able to enjoy the results of #PKR's depreciation. They apparently have gone into hiding. High policy rate and declining Pak Rupee are the causes of today's curse of inflation that has resulted in unaffordable and expensive housing, food, energy, gas, medical bills, taxes etc. There is no other treatment. The maths actually basic. Document the entire economy and tax all income. Nothing else would work, as borrowing in an unaffordable temporary situation. Lending to private sector is curtailed and #PKR is intentionally kept undervalued in my opinion, hence policy rate should be changed based on the state of the economy. It should be sliced 200bp and then followed with an additional #policy #rate reduction.

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The Express Tribune - Will digital banking be successful in Pakistan? Five digital banks near operational readiness to transform financial inclusion in 2025 by Salman Siddiqui Pakistan is on track to roll out seamless digital banks in 2025, with at least one of the five financial entities in the digital race claiming near-completion of "operational readiness." It is set to apply for pilot project licensing in the coming weeks. Success in the small-scale trial phase would lead to full-scale digital retail banking operations in the rapidly approaching new year. Mashreq's Group Head of Retail Banking, Fernando Morillo, told the media this week that they have achieved over "90% operational readiness" to begin digital banking in Pakistan. CEO of Mashreq Bank Pakistan, Muhammad Hamayun Sajjad, told The Express Tribune that the UAE-based bank would apply for pilot project licensing from the State Bank of Pakistan (SBP) in a few weeks, with full-fledged digital banking operations expected to start within months in 2025. Financing for Small and Medium Enterprises (SMEs) will remain a key segment of their business strategy to support economic activities in the country, they said. In a bid to foster innovation, financial inclusion, and the availability of affordable digital financial services, the SBP has granted In-Principle Approval (IPA) for establishing five digital retail banks, namely, HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic Digital Bank Limited, and Telenor Microfinance Bank Limited. Earlier, the central bank issued no-objection certificates (NoCs) to the five, out of a total of 20 applicants—including top conventional banks in Pakistan—for establishing digital banks back in January 2023. These banks are tasked with making a difference in the financial sector, doing what conventional banks have failed to do, such as SME financing and catering to banking needs in remote areas. They aim to meet the financial needs of businesses, rather than ....

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The State Bank of Pakistan has issued comprehensive guidelines for the conversion of conventional banks into Islamic banks, a significant step towards promoting and implementing Islamic banking in the country. It's encouraging to see such strong support from regulators for a more inclusive and ethical financial system. #IslamicBanking #FinancialSystem #EthicalBanking #HABIBMETRO #SBP #SIRAT

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As Pakistan moves towards a more digital economy, Raast merchant payments will play a significant role in a step towards cashless payments. JazzCash, with its extensive Merchant network and cutting-edge technology, is best-positioned to drive adoption and facilitate the Raast P2M transactions. By leveraging Raast merchant payments, JazzCash is enabling more than 300k merchants across Pakistan to receive digital payments, irrespective of the customer’s bank or wallet provider. This means faster payments, reduced transaction costs, increased transparency, and ultimately, greater financial inclusion for all Pakistanis. With JazzCash’s dedicated Business App, Merchants are not just limited to receiving these payments, rather they can manage their smaller business end to end including marketing, salary disbursement, scheduled payments, settlements, direct payments to distributers and above all, productive loans to manage their cash flows. Not only this, we at JazzCash will also be enabling Tier-2 and Tier-3 merchants to accept card payments and thus providing them access to untapped customer segment…… and very soon, something very exciting coming up for the Tier-1 merchants as well. Let us all embrace this opportunity to accelerate our journey towards a cashless economy and unlock the full potential of digital financial services to promote State Bank of Pakistan (SBP)’s vision towards a digital economy. Hamza Islam Yousaf khan Arsalan Lodhi Sana Imran Shariq Ejaz Omer Farooq Danyal Tariq Muhammad Arham Raihan Ibrahim Akhwand 𝘑𝘢𝘻𝘻𝘊𝘢𝘴𝘩’𝘴 𝘱𝘢𝘺𝘮𝘦𝘯𝘵 𝘢𝘤𝘤𝘦𝘱𝘵𝘢𝘯𝘤𝘦 𝘯𝘦𝘵𝘸𝘰𝘳𝘬 𝘤𝘰𝘮𝘱𝘳𝘪𝘴𝘦𝘴 𝘰𝘧 𝘮𝘰𝘳𝘦 𝘵𝘩𝘢𝘯 300𝘬 𝘔𝘦𝘳𝘤𝘩𝘢𝘯𝘵𝘴 𝘢𝘤𝘳𝘰𝘴𝘴 𝘗𝘢𝘬𝘪𝘴𝘵𝘢𝘯. 𝘛𝘩𝘦𝘴𝘦 𝘔𝘦𝘳𝘤𝘩𝘢𝘯𝘵𝘴 𝘱𝘳𝘰𝘤𝘦𝘴𝘴 ~6𝘮𝘯 𝘵𝘳𝘢𝘯𝘴𝘢𝘤𝘵𝘪𝘰𝘯𝘴 𝘸𝘰𝘳𝘵𝘩 ~15𝘣𝘯 𝘗𝘒𝘙 𝘮𝘰𝘯𝘵𝘩𝘭𝘺. #Raast #DigitalPakistan #Fintech

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Pakistan’s leading digital microfinance bank, Mobilink Microfinance Bank Ltd., has launched an easy-to-use in-app inheritance calculator made accessible through its Dost app. The cutting-edge financial tool is designed to empower individuals, especially women, by providing clear insights into their inheritance share. The calculator’s launch is a testament to the Bank’s commitment to promoting financial inclusion and social justice through this initiative. The inheritance calculator is integrated into the Bank’s consumer app, Dost App and addresses the longstanding inequity in inheritance distribution. By democratizing access to financial information, the calculator simplifies the complex process of determining potential inheritance shares or amounts. To accurately calculate an individual’s inheritance share, users are required to provide details about the deceased and their heirs. The tool also includes a detailed heir chart (family tree) outlining the relationships between all parties involved. It determines the specific shares allocated to different categories of heirs based on their familial ties to the deceased. “We believe that every individual has the right to financial independence and security,” emphasized Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank. He added: “Through this inheritance calculator, we are committed to giving a voice to the women who lack the tools and knowledge to understand their inheritance share and are often denied it. Our platform provides clarity and helps individuals, particularly women, to calculate their rightful inheritance share within minutes. By addressing the challenges of cultural variations, data privacy, and informal practices, we want to ensure that our users know their due share and claim it rightfully.” With a steadfast commitment to building an inclusive environment, the Bank offers a comprehensive suite of products and services designed to meet the diverse needs of its growing customer base. Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and digital services to nearly 160 million customers in six dynamic markets that are home to 7% of the world’s population. #lougheeloug

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FinVolution Group Expands Global Footprint with Launch of "Daira" in Pakistan Tiezheng Li, CEO of FinVolution Group, commented, “The launch of Daira in Pakistan is a key milestone in our global expansion. We have successfully established leading brands in several APAC markets through our advanced technology and localization strategies, and we believe we can replicate this success in Pakistan. Moving forward, we will continue to pursue new opportunities in other markets to further strengthen our global presence.” https://lnkd.in/gvpFmWzM #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

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Mobilink Microfinance Bank Ltd, a leading digital microfinance institution in Pakistan, has introduced an inheritance calculator through its Dost App to simplify the process of inheritance distribution. This tool is designed to help users, particularly women, understand and claim their rightful shares. Integrated into the Dost App, the calculator allows users to input information about the deceased and their heirs. It automatically generates a family tree and calculates the shares each individual is entitled to based on their familial relationships. This feature aims to make the legal complexities of inheritance more accessible. Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, emphasized the importance of financial independence and highlighted the inheritance calculator as a tool to empower women. In a country where 97% of women are often denied their inheritance rights, this initiative is a step towards addressing this issue. Mobilink Bank’s commitment to inclusivity is evident in its wide range of products and services. As part of the VEON group, serving nearly 160 million customers across six markets, the bank continues to foster financial fairness and independence through innovative solutions like the inheritance calculator. #DigitalPakistan #TechUpdate

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📢 Thrilled to share the latest APABI Focus Q1 Newsletter issued in April 2024! Our renewed edition of the newsletter, compiled in collaboration with our newly-established Newsletter Committee! Indian Institute of Banking and Finance Bankers Institute of the Philippines Inc. The Institute of Bankers Pakistan Institute of Banking and Finance, Cambodia Institute of Bankers of Sri Lanka - IBSL This time around, our theme dives deep into the crucial realm of ESG (Environmental, Social, and Governance) issues. From thought-provoking articles to impactful interviews, this edition promises to ignite your curiosity and fuel your professional growth, all while shedding light on the imperative discussions surrounding ESG factors.   Looking forward to your feedback and insights after exploring the newsletter! #APABI #Newsletter #APABIFocus #ESG #Insights #KnowledgeSharing #CommunityBuilding  

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Breaking News! Cardaq Limited Joins the Innovative Payments Association (IPA)! Cardaq Limited has officially joined the IPA, taking a significant step forward in shaping the future of digital payments! Established in October 2011, Cardaq has been in the market for more than 12 years. Cardaq is based in London, in the world's top financial markets capitals with the leading economy and innovations. Whether you run a family-owned business or a large enterprise, Cardaq’s automated technology will always push your business opportunities further, giving you an up-to-date FinTech solution in no time. Instantly accept and process transparent payments anywhere in the world. Hugo Remi, CEO of Cardaq: “We are very proud to officially become IPA members and receive an opportunity to collaborate with industry leaders to drive innovation, enhance financial inclusion, and create seamless payment experiences for businesses and consumers alike”. The Innovative Payments Association is a trade organization that serves as the leading voice of the electronic payments sector, including prepaid products, mobile wallets, and P2P technology for consumers, businesses, and governments at all levels. The IPA's mission is to encourage efficient use of electronic payments, cultivate financial inclusion through educating and empowering consumers, represent the industry before legislative and regulatory bodies, and provide thought leadership. #DigitalPayments #InnovativePaymentsAssociation #FinTech #MobileWallets #P2PTechnology #ElectronicPayments

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Great to have insightful conversations with Mr. Irfan Siddiqui, President & CEO Meezan Bank Limited in relation to our 2024 banking publication. We spoke about certain imperatives relating to economic growth, priority reforms in fiscal and external account dimensions and Islamic transformation.   Key messages:   1.  Creating fiscal space by broadening tax base through inclusion of agriculture, retail and real estate 2.  Expediting privatization of state-owned enterprises 3.  Undertaking FBR restructuring and other operational reforms 4.  Developing a national digitization policy and implementation roadmap that enables a Digital and Corporate Pakistan 5.  Export growth through investments in agri output, textile innovation and tech resources 6.  Stiff competition for foreign capital. Only long-term consistent policy to secure a scalable foreign investment 7.  Preparatory work underway for an effective Islamic transformation across the industry. Demand is customer driven and Islamic conversion requirement has set in motion considerable degree of awareness about Islamic banking 8.  Overall tilt towards Islamic banking, evident from 80%-90% of new branches being opened as Islamic  9.  There may be some priority shifts which may have some bearing on eventual timelines, however, transformation to stay the course Meezan Bank Limited State Bank of Pakistan (SBP) Al Meezan Investment Management Limited #pwc #aff #statebankofpakistan #meezanbank #bankingsector #banking #management #people #innovation #technology #fintech #datascience #future #bigdata #startups #financialinclusion #mobilebanking #experience #pakistan #pwc #compliance #data #network #inclusion #bank #digitalbanking #growth #digitaltransformation #engagement #leadership #supplychain #sustainable #ceo #infrastructure

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A Glimpse into Digital Banking Fraud | Expert Insights by Muhammad Ali Jangda. #DigitalBankingFraud #FraudPrevention #CyberSecurity #BankingScams #MuhammadAliJangda #FinanceInsights #BankingAwareness #StaySecure #DigitalSafety #Fintech #BankingSecurity #FraudAwareness

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DataCheck equips banks, lending insitutions, and consumers with comprehensive data-driven solutions - fostering transparency, trust, and efficiency in Pakistan's financial landscape. Our extensive credit database and expertise offer a holistic view of creditworthiness, reducing the risk of defaults and promoting responsible lending. #DataCheck #Pakistan #CreditBureau #FinancialInstituitions #CreditUnion #Banks #CreditReporting #FinancialDecisions #CreditEvaluation #Evaluation #Credit

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Easypaisa has launched "easycash," a digital loan service that provides users with instant access to loans of up to PKR 15,000 without the need for documentation. This service allows users to repay their loans with flexible terms and no hidden charges. Loan approval is based on a credit score determined by the user's easypaisa account activity and credit history. Users can easily apply for loans through the easypaisa app, track their repayments, and manage their loan details. Muhammad Khurram Waraich, Head of Digital Lending & Data Science at easypaisa, emphasized the importance of easycash in simplifying access to formal credit and promoting financial inclusion in Pakistan. #DigitalLoans #InstantLoans #easypaisa #easycash #FinancialInclusion #DigitalFinance #PakistanFintech #SeamlessLoans #CreditScore #InnovativeBanking #MobileBanking #PakistaniFinance #DigitalEconomy #CxONews #CxOGlobalForum

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