DTI and Tapal Tea and Empower Women through Specialized Recruitment Drive for “Uraan” Program
DTI, in collaboration with Tapal Tea, successfully conducted a Recruitment Drive aimed at hiring female electricians for its flagship women empowerment program, “Uraan”. This initiative marks a significant milestone in DTI commitment to gender inclusion, opening new doors for women in technical roles traditionally dominated by men.
The recruitment drive received an encouraging response from aspiring female candidates, highlighting a growing interest in technical fields. As part of the “Uraan” program, Tapal Tea aims to create sustainable career opportunities for women in industrial roles such as electrical work. Additionally, discussions were held with DTI to expand the program by introducing specialized training in workplace safety and forklift operations, further enhancing participants’ skills and employability.
Adding his thoughts, DTI General Manager Murtaza Ali shared, “We believe that skill development is the key to unlocking new opportunities for women in technical fields. Our collaboration with Tapal Tea on the ‘Uraan’ program is a great example of how industries can come together to create an inclusive and skilled workforce for the future. We look forward to expanding this initiative and helping more women step confidently into technical careers.”
DTI and Tapal Tea representatives praised the collaboration, emphasizing the vital role of industry partnerships in promoting social change and creating inclusive opportunities for women in Pakistan’s workforce. They reaffirmed their commitment to strengthening the “Uraan” program, ensuring women gain access to technical career pathways and the skills needed for long-term success.
BYD partners with HBL PSL Season 10 to electrify Pakistan’s most iconic series
In a thrilling fusion of sport and innovation, BYD Pakistan — Mega Motor Company, has officially joined hands with Pakistan Super League’s 10th edition as its official mobility partner. The partnership was formalized at a landmark signing ceremony, held outside the Pakistan Cricket Board’s headquarters for the first time, hosted at the BYD Experience Center in Lahore, marking a significant collaboration between the nation’s premier cricket league and the world’s No.1 New Energy Vehicles (NEVs) manufacturer.
This alliance underscores a shared commitment to innovation, excellence, and promoting sustainable practices within Pakistan. As the country’s premiere sporting event, the Pakistan Super League (PSL) is not just a celebration of cricket – it’s a national phenomenon that unites millions of fans across the country. Partnering with such a prestigious platform amplifies the impact of BYD’s vision for a greener future. The signing ceremony was attended by Chief Financial Officer of PCB, Javed Murtaza, as well as other senior executives from both organizations, marking a significant step forward in this impactful collaboration.
This electrifying partnership unites the nation’s most thrilling sporting event and the high-tech global NEV leader in the automotive industry – highlighting a shared commitment to innovation, excellence, and sustainability. As part of the sponsorship, BYD’s latest NEVs will be showcased during various matches across the country, offering cricket enthusiasts an opportunity to witness cutting-edge automotive technology.
Speaking at the signing ceremony, Mega Motor Company’s GM Marketing, Syed Haider Mujtaba, said, “Partnering with HBL PSL X gives us the opportunity to connect with millions of passionate cricket fans, while showcasing BYD’s groundbreaking New Energy Vehicles. This collaboration reflects our commitment to promoting sustainable mobility and eco-friendly transportation solutions in Pakistan”
Javed Murtaza, Chief Financial Officer of PCB, expressed his enthusiasm about the partnership, stating, ” We are very proud to have BYD Pakistan as our official mobility partner, marking a beginning of a long-term, prosperous and mutually beneficial partnership for both HBL PSL and BYD. As HBL PSL celebrates the completion of its first remarkable decade and steps confidently into the next, we are committed to making the league bigger and better with each passing year. In that context – BYD’s partnership with HBL PSL couldn’t be timelier”
Cement despatches continued downward momentum in March 2025
According to the data released by All Pakistan Cement Manufacturers Association, local cement despatches by the industry during the month of March 2025 were 2.961 million tons compared to 3.338 million tons in March 2024, showing a decline of 11.31%. Exports despatches were almost flat with volumeof 608,614 tons in March 2025 compared to 605,142 tons in March 2024. Total Cement despatches during March 2025 were 3.569 million tons against 3.944 Million Tons despatched during the same month of last fiscal year, showing a decline by 9.48%.
In March 2025, North based cement mills despatched 2.450 million tons cement showing a decline of 14.54% against 2.866 million tons despatches in March 2024. South based mills despatched1.12 million tons cement during March 2025 showing marginal improvement of 3.96% over the despatches of 1.07 million tons during March 2024.
North based cement mills despatched 2.431 million tons cement in domestic markets in March 2025 showing a decline of 11.33% against 2.742 million tons despatches in March 2024. South based mills despatched 529,750 tons cement in local markets during March 2025 that was also 11.23% less compared to the despatches of 596,751 during March 2024.
Exports from North based mills drastically declined by 85.15% as the quantities dropped from 124,672 tons in March 2024 to just 18,508 tons in March 2025. Exports from South however increased by 22.82% to 590,106 tons in March 2025 from 480,470 tons during the same month last year.
During the first nine months of current fiscal year, total cement despatches (domestic and exports) were 33.993 million tons that is 1.48% lower than 34.503 million tons despatched during the corresponding period of last fiscal year. Domestic despatches during this period were 27.461 million tons against 29.403 million tons during same period last year showing a reduction of 6.61%. Export despatches, showed upward trajectory by 28.08% as the volumes increased to 6.532 million tons during the first nine months of current fiscal year compared to 5.10 million tons exports done during same period of last fiscal year.
North based Mills despatched 22.791 million tons cement domestically during the first nine months of current fiscal year showing a reduction of 5.96% than cement despatches of 24.236 million tons during July-March 2024. Exports from North increased by 7.76% percent to 1.12 million tons during July-March 2025 compared with 1.039 million tons exported during the same period last year. Total despatches by North based Mills reduced by 5.40% to 23.911 million tons during first nine months of current financial year from 25.276 million tons during same period of last financial year.
Domestic despatches by South based Mills during July-March 2025 were 4.669 million tons showing reduction of 9.63% over 5.167 million tons cement despatched during the same period of last fiscal year. Exports from South increased by 33.28% to 5.419 tons during July-March 2025 compared with 4.061 million tons exported during the same period last year. Total despatches by South based Mills increased by 9.26% to 10.081 million tons during first nine months of current financial year from 9.227 million tons during same period of last financial year.
A spokesman of All Pakistan Cement Manufacturers Association mentioned that cement is an essential commodity and plays pivotal role in the economy. It provides direct and indirect employment to thousands skilled and non-skilled workers and provides stimulus to many allied industries as well. We are optimistic that policy makers will give consideration to reduce taxes and duties on cement in the upcoming budget in order to make the commodity affordable to masses, thereby increasing domestic off-take, he added.
Mobilink Bank bags silver at Dubai Lynx for championing women’s inheritance rights
Pakistan’s leading digital microfinance institution, Mobilink Bank, has added yet another feather in its cap by winning silver for its ‘Invisible Heirs’ campaign at the prestigious Dubai Lynx Awards 2025 – the MENA region’s biggest creative and marketing event. The campaign excelled in the Creative Strategy Corporate Purpose & Social Responsibility category for elevating consciousness against the systemic denial of inheritance share for most women in Pakistan.
Mobilink Bank’s campaign tackles gender-based financial inequality head-on to foster financial autonomy for women. The campaign featured a powerful video narrative highlighting women’s emotional and societal challenges in securing their inheritance, sparking a nationwide conversation and inspiring action. The bank also innovatively integrated an ‘Inheritance Calculator’ in its mobile app to allow women to easily calculate their rightful share in inheritance.
Reacting to the success, Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, said, “Being recognized at the biggest marketing event in the MENA region refuels our passion to work more vigorously towards women’s long-term financial liberation. Mobilink Bank empowers women to overcome deeply rooted social challenges through future-ready digital innovation and strong social advocacy. We believe the campaign’s recognition will translate into solid gains toward the social cause closest to our hearts.”The Dubai Lynx Awards are the Middle East and North Africa (MENA) region’s premier platform for celebrating excellence in creative communications, marketing, and advertising. Held annually in Dubai, the event brings together top agencies, brands, and creative minds from across the region to showcase ideas that drive business results and positive change.
The award adds to Mobilink Bank’s streak of global wins at GSMA’s GLOMO and M360 APAC. This recognition will further invigorate the bank’s efforts to foster financial inclusion, autonomy, and empowerment of women nationwide.
Pakistani, Turkish tech firms partner to digitise cross-border trade
Amid growing international interest in Pakistan’s mining and trade sectors during the ongoing Pakistan Minerals Investment Forum 2025, a significant digital partnership has been forged between Pakistani and Turkish firms to revolutionize cross-border trade.
Galaxefi Solutions, a leading Pakistani digital freight management platform, has signed a Memorandum of Understanding (MoU) with AsirDx, a Turkish technology company specializing in digital transformation and data exchange solutions. The agreement aims to implement the Galaxefi platform across Turkey, with plans to eventually integrate it with the Turkish Single Window system.
The MoU was signed in Karachi on Wednesday by Galaxefi founder and CEO Asif Pervez and AsirDx Group CEO Mr. Halil Sarıbaş.
This strategic alliance marks a major step forward in the digitalization of global logistics, as both companies commit to building seamless, transparent, and efficient cross-border trade systems.
“The Turkish market is central to the future of regional and intercontinental logistics,” said Galaxefi CEO Asif Pervez. “Our alliance with AsirDx is a pivotal move toward enabling a digitally unified trade environment. Ultimately, we aim to link the Galaxefi platform with the Turkish Single Window to create a streamlined logistics ecosystem.”
Echoing the sentiment, AsirDx Group CEO Mr. Halil Sarıbaş said: “We are excited to collaborate with Galaxefi in bridging global logistics with national digital infrastructure. Our shared goal is to deliver cutting-edge solutions that enhance transparency and efficiency in cross-border trade.”
Simultaneously, Galaxefi is also working on integrating its platform with the Pakistan Single Window (PSW), a move that will further enhance regional trade connectivity and streamline logistics between the two countries.
This emerging trilateral digital trade corridor — connecting Galaxefi, the Turkish Single Window, and the Pakistan Single Window — is set to become a model for interoperable, data-driven trade facilitation. It positions both nations as pioneers in the global movement toward trade digitalization.
Confidence among North America-based accountants falls to lowest on record
Confidence among global accountants declined again in early 2025, although the fall was much less marked than in Q4 2024, according to the Q1 2025 Global Economic Conditions Survey (GECS).
The survey from ACCA (the Association of Chartered Certified Accountants) and IMA® (Institute of Management Accountants) suggests that confidence remains at its lowest since Q2 2020. The survey of accountants took place between late February and mid-March and so it was completed in the build-up to last week’s major announcement by the US on import tariffs which significantly increased the downside risks to the global economy.
Confidence fell markedly in North America amid a huge fall in the US. Confidence among US-based accountants is at its second lowest ever, with commentary from survey respondents suggesting that US trade policy has been the key factor weighing on sentiment, as well as cuts in government spending. Expectations for increases in the latter have fallen sharply in recent quarters. Moreover, the US Capital Expenditure and Employment indices both declined and are at very low levels historically. More encouragingly, the US New Orders Index rose again and is not too far below its average.
Confidence rose quite strongly in Asia Pacific in Q1 after a massive decline over the past couple of quarters. It is now only modestly below its historical average. There was also a solid gain in the New Orders Index, which is at a very high level by historical standards, potentially boding well for activity over the coming quarters. But the Capital Expenditure and Employment indices provide a contrasting picture. The former fell meaningfully and is significantly below average, while the latter rose strongly and is slightly higher than its historical average.
There was a very notable rise in confidence among mainland-China-based accountants, and there has been a large improvement in the New Orders Index since Q3 2024. All in all, the key indicators pointed to some improvement in the economic backdrop in Asia Pacific, with signs of improvement in the Chinese economy likely an important contributing factor.
That said, front-loading of exports before US tariff increases may have played a part, and the significant escalation of trade tensions is a major downside risk over the coming quarters.
Confidence also grew in Western Europe, after sharp falls in previous quarters, despite the growing risk from US import tariffs. Meanwhile, cost pressures increased globally. They remain very elevated in Western Europe and rose quite materially in North America.
Jonathan Ashworth, Chief Economist, ACCA, said: ‘Global growth has generally proved quite resilient over recent quarters. Nonetheless, the longer that confidence remains depressed, the greater the risk that a self-reinforcing negative cycle could potentially develop, with firms pulling back on orders, capital expenditure and hiring. Unfortunately, with global trade tensions stepping up markedly since the survey was completed, the downside risks to the global economy have increased significantly.’
Alain Mulder, Senior Director, Europe Operations & Global Special Projects at IMA said: ‘New US policies on trade and government spending, and the uncertainty surrounding them, appear to have had a large negative impact on confidence, while declines in the global markets and signs of slowing in the US economy were likely factors too.’
The economy remained the highest overall risk identified by accountants in Q1, but responses varied across sectors. Cybersecurity was the highest for financial services and tied in first with talent scarcity for the public and not-for-profit sector. The corporate sector ranked economic woes first and geopolitical instability a tight second. Geopolitical risks came in second overall – the first time it was above third – with respondents in the US especially, commenting on the implications of new policy changes and tariffs
Illicit Cigarette Trade Draining Billions of Rupees Annually Due to Weak Enforcement
Pakistan continues to suffer massive tax losses due to the unchecked rise of the illicit cigarette trade, with the country losing around Rs. 415 billion annually as enforcement measures fail to keep pace with illegal market expansion.
While commitments have been made to address the issue, enforcement actions on the ground have not kept pace with the scale of the illicit trade. This enforcement gap is enabling illicit operators to grow freely, undermining the formal sector and depriving the national exchequer of much-needed revenue.
“The government needs to take concrete measures to curb the continuous growth in the illicit sector, which is not only hurting the national economy but is thriving due to weak enforcement,” said Fawad Khan, spokesperson for Mustehkam Pakistan.
The Institute for Public Opinion Research (IPOR) has reported that around 54% of cigarette brands sold in Pakistan are illicit.
Despite contributing 98% of the tobacco industry’s total tax revenue, the legal cigarette sector now holds just 46% of the market share and contributes around 270 billion rupees in taxes.
This translates into a direct loss of nearly Rs. 415 billion annually in unpaid taxes and duties. If the illicit sector continues to flourish, the legal sector may further shrink, putting the PKR 270 billion in jeopardy too.
“With illicit cigarette sales on the rise, law enforcement agencies and policymakers must take urgent action to combat smuggling and unregistered production,” said Khan. “Until enforcement measures are effectively implemented, the national treasury will continue to bleed while non-compliant players operate with impunity. Pakistan has done a great job in restricting INGO’s like CTFK and Vital Strategies who with their partners in Pakistan were actively fiddling with policy making and were operating against the laws”
The Track and Trace System, expected to be fully deployed across the tobacco industry by December 2023, still remains partially implemented. Delays in enforcement, lack of routine inspections, and weak penalties have allowed non-compliant entities to bypass the system altogether.
This alarming disparity highlights the urgent need for consistent and targeted enforcement to level the playing field. Stakeholders now urge immediate action through consistent enforcement drives, enhanced tracking mechanisms, and market-level crackdowns to stop the bleeding.
“The enforcement gap is not just a technical issue; it’s the core reason the illicit trade continues to grow unchecked,” Fawad concluded. “Without decisive and sustained enforcement efforts, these losses will keep mounting, making recovery even harder for the formal economy.”
US tariffs beginning of a global trade war, says Mian Zahid
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on April 7 that the US President Trump’s economic policies signal the beginning of a global trade conflict.
He stated that the main goal of tariff policy is to put pressure on China’s impressively growing economy.
Mian Zahid Hussain said that US tariffs would result in a global recession and may impact Pakistani exports, remittances, and revenue.
Talking to the business community, the veteran business leader said the US move can be remedied with better and timely measures.
The business leader said that Pakistan imports about $1.75 billion from the US and exports $5.5 billion annually. Thus, the US faces a trade deficit of over $3.75 billion.
The US has imposed a 29 per cent tariff on Pakistan to eliminate this deficit. Therefore, if Pakistan increases its imports from the US by about $3.75 billion annually, the US trade deficit with Pakistan will be eliminated. He said Pakistan’s tariff will be 10 per cent instead of 29 per cent.
Mian Zahid Hussain said that the same US formula will apply to all countries. Countries that eliminate their trade deficit by importing the same amount of goods from the US will benefit.
He said that if President Trump’s policy is successful, trade will shift to the United States instead of China because all countries will be forced to boost imports from the United States to maintain their exports, which will devastate China’s export market.
He said that China, which currently exports $3.5 trillion worldwide, will try to shift a significant portion of this to the United States, reviving American industry.
If Trump’s new tariff strategy succeeds, approximately $2 trillion in annual imports could be shifted from China to the United States.
The consequences of this new US strategy will also be devastating for the economy of neighboring India. However, the Indian government and businessmen will soon become partners in the new US strategy. They will formulate a plan to take its share of the new $2 trillion export market that the US will gain because the current industrial infrastructure in the US cannot fully fulfill the new orders of $2 trillion.
For this, the US will need the help of some friendly developing industrial countries to fulfill additional export orders based on US policies and interests. India is the most suitable country for this.
Mian Zahid Hussain said that Prime Minister Shahbaz Sharif has formed a task force under the leadership of Finance Minister Muhammad Aurangzeb Khan, which will negotiate with the US government to protect Pakistani trade.
In this regard, the Prime Minister has also formed a working group under the leadership of the Secretary of Commerce, which is a timely step.
Pakistan imports about $3 billion worth of palm oil from Indonesia and Malaysia, in return for which it can not only eliminate the additional tariffs but also become closer to the US by importing soybean oil, raw cotton, iron, steel, and other goods.
Mian Zahid Hussain said that many stock markets worldwide have crashed due to the US tariff measures. The Pakistan stock market has also seen tremendous ups and downs, and the index has decreased by more than 6,000 points.
Under the changing trade conditions, Pakistan can also significantly increase its exports through better trade diplomacy with the US, and it will have to increase its efforts to find new markets.
Mian Zahid Hussain said that if India fails to join the new economic order with the US, its exports to the US may be affected, which may result in billions of dollars of trade in India’s textile, garment, pharmaceutical, and auto industries.
Mian Zahid Hussain said Pakistan must adopt a dynamic diplomatic strategy to reduce losses and create new opportunities. In this regard, branding, designing, and high-value products should be promoted instead of ordinary products.
Moreover, foreign investment should be increased, new trade agreements should be made, modern technology and automation should be promoted, energy should be made cheaper, and IT and freelancing exports should be increased, enabling Pakistan to overcome this situation.
Zahida Habib establishes endowment at DTI in memory of H.M. Habib
In a powerful tribute to a legacy of vision and service, Ms. Zahida Habib has established the H.M. Habib Endowment Fund at the Descon Technical Institute (DTI) in memory of her late father, H.M. Habib. A distinguished banker, philanthropist, and the founding force behind Habib Bank AG Zurich, H.M. Habib made lasting contributions to Pakistan’s economic and educational development. Through this endowment, his commitment to empowering future generations will live on — providing perpetual scholarships for students pursuing various technical trades at DTI.
These scholarships will enable deserving individuals to access high-quality vocational training, equipping them with the tools and skills needed to build sustainable livelihoods and contribute meaningfully to their communities.
DTI General Manager Murtaza Ali Stated that, “We are deeply honored and grateful to Ms. Zahida Habib for this transformative contribution. The H.M. Habib Endowment Fund will not only open doors of opportunity for countless students but will also uphold and extend the values of generosity, vision, and progress that H.M. Habib stood for.”
This initiative is a powerful step forward in strengthening Pakistan’s technical workforce and reflects the enduring spirit of philanthropy that continues to shape a brighter future for all.
Govt committed to mineral economy development: Mian Zahid Hussain
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, stated on Friday that the government is dedicated to advancing the mineral economy.
He stated that both the Prime Minister and the Army Chief are diligently working towards economic development, which has resulted in positive outcomes.
Mian Zahid Hussain said that the discovery of large deposits of gold and copper in Balochistan is a significant development which can pave the way for rapid economic growth.
Talking to the business community, the veteran business leader said that Prime Minister Shahbaz Sharif realizes that the mineral sector has been waiting for attention for years.
By developing this sector worth trillions of dollars, borrowing can be stopped, which will enable the country to say goodbye to the IMF and other international institutions.
Mian Zahid Hussain said that Army Chief Syed Asim Munir is also taking a special interest in developing the country’s economy and has assured that the Pakistan Army will provide foolproof security for the interests and protection of investors.
Mian Zahid Hussain said that Pakistan is a country rich in mineral resources. There are countless valuable minerals hidden under its soil that can change the state of the country’s economy. Still, this sector has never been given importance.
Pakistan’s mineral resources include salt, coal, oil, gas, copper, gold, chromite, marble, and gypsum. These resources meet the country’s needs and earn valuable foreign exchange through exports.
He said Balochistan has vast coal reserves, while the Thar region has large coal reserves, which have been used to overcome the energy crisis. Thar coal has been used for the past few years, changing the region’s fate.
He noted that the Sindh provincial government’s performance in this regard is commendable. Mian Zahid Hussain said that natural gas has also been meeting the country’s energy needs for decades.
In addition to gas and oil, Pakistan also has vast reserves of marble, granite, and gemstones, which are used in the construction industry and are important for exports.
In addition, Pakistan has unlimited reserves of lime, which is used in making cement. Pakistan can earn huge foreign exchange by exporting cement to the whole world.
Mian Zahid Hussain said outdated methods are used to extract minerals, which wastes 25 to 60 percent.
If these deposits were extracted with modern technology, they could strengthen the economy, create significant employment opportunities, and raise people’s standard of living.
This is why our enemies want to use misguided people to keep Pakistan from progressing through terrorism. Pakistan’s destiny is survival, progress, and prosperity, and all must work together to defeat the enemy.
Palandöken economic forum set to kick off in Erzurum, Türkiye
The eastern Turkish province of Erzurum, designated as the Economic Cooperation Organisation (ECO) Tourism Capital of 2025, is set to host the Palandöken Economic Forum on April 26-27, 2025. Founded as the Regional Cooperation for Development (RCD) in 1964 by the Islamic Republic of Iran, Islamic Republic of Pakistan and the Republic of Türkiye, the Forum was rechristened as the Economic Cooperation Organization (ECO) in 1985.
The highly anticipated Forum, themed “An Equitable Future in a Smart World: Intelligent Economies and Global Inequality”, will bring together distinguished international figures, including state authorities, academics and business professionals, to discuss the impact of digital transformation, with a particular focus on the role of artificial intelligence (AI), from the perspective of various economies.
During the Forum’s five primary and two special sessions, keynote speakers from various ECO nations will join experts from other countries, including Switzerland, France, the UK, the USA, and the UAE, to discuss various economic issues. In addition to these sessions, the Forum will feature significant activities, including a summit with tourism ministers, a planting ceremony on behalf of the ECO countries, and the opening of the Northeastern Anatolia Regional Career Fair (KUDAKAF’25).
Erzurum is beautifully located on the slopes of Palandöken, one of Türkiye’s top winter destinations. The Palandöken Ski Resort has the country’s longest ski track and offers night skiing, earning Erzurum the title of European Capital of Winter Sports for 2025. But the city is more than just a winter spot. In spring and summer, Erzurum offers breathtaking nature, cool mountain air, and peaceful hiking trails.
Visitors can explore historic sites like the Double Minaret Madrasa, Atatürk’s house, and ancient mosques and tombs that tell the story of Anatolia’s past. Nature lovers can enjoy the majestic Tortum Waterfall, the fairy chimneys of Narman, and the lakes of İspir. Local food is also a big highlight—don’t miss the famous cağ kebabı, kadayıf dolması, or İspir beans. With its mix of culture, nature, and food, Erzurum has something to offer in every season.
Dubai to host 2nd global Islamic Fintech awards 2025
The 2nd Global Islamic FinTech Awards organized by AlHuda Centre of Islamic Banking and Economics (CIBE) will take place on April 15, 2025 at the Dusit Thani Hotel Dubai, UAE. This esteemed event will recognize and honor groundbreaking achievements in Islamic FinTech, spotlighting the individuals, organizations and initiatives that are driving the convergence of financial technology and Shariah-compliant solutions.
As the Islamic FinTech sector continues to flourish—valued at $100 billion and projected to reach $180 billion by 2026—the awards ceremony will serve as a global platform to celebrate innovation, ethical finance, and financial inclusion. The event will coincide with the 2nd Global Islamic FinTech Forum (GIFT 2025), creating a synergistic environment for knowledge-sharing, networking, and collaboration among industry leaders, regulators, and innovators. They will explore cutting-edge developments in digital payments, Blockchain solutions, Islamic crowdfunding, and wealth management.
The awards will honor achievements across a diverse range of categories, including Best Islamic FinTech Startup, Shariah-Compliant Investment Platforms, Tech for Social Good, Best Islamic Digital Bank, and Best Islamic Blockchain Solution. Other notable categories include Best Islamic Cryptocurrency and Excellence in Islamic FinTech Regulation, showcasing the breadth of innovation in the sector.
Nominations are open through self-submissions or research-based recommendations by AlHuda CIBE’s expert team. The deadline for submissions is April 12, 2025 with finalists announced on April 13, 2025.
Mr. Muhammad Zubair, Managing Director of AlHuda CIBE, emphasized the significance of the awards: “The Global Islamic FinTech Awards are more than just recognition—they are a catalyst for growth and innovation in ethical finance. By honoring trailblazers in this space, we inspire further advancements that align with Islamic principles while addressing global financial challenges.”
Organizations and individuals are invited to submit nominations by completing the Awards Form available at www.alhudacibe.com/giftf2025/awards and emailing it to info@alhudacibe.com
Attendees can also register to witness the celebration of excellence at the Dusit Thani Hotel, UAE. 2nd Global Islamic Fintech Awards 2025 is a must-attend event for FinTech entrepreneurs, investors, policymakers and Islamic finance professionals seeking to shape the future of ethical digital finance.
Trump’s actions have negatively impacted nearly 100 economies: Mian Zahid
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on April 9 that the US President has significantly undermined the global trading system.
He noted that while this attack has disrupted the economies of over a hundred countries overnight, it has also resulted in a five-trillion-dollar loss for American companies, which may be temporary.
Talking to the business community, the veteran business leader said that many countries had not yet been able to assess the impact of Trump’s destructive actions when the US decided to increase tariffs on Chinese exports to 104 per cent, with a possibility of another fifty per cent hike.
In response, China has also declared a fight to the last. Poor countries will fuel this war between the two superpowers of the world.
Mian Zahid Hussain said that Canada is also responding to the US moves, while Europe has also planned to impose retaliatory taxes against the United States. This shows that this trade dispute can escalate significantly.
On the other hand, all the affected countries have started contacting the United States and are trying to eliminate their trade surplus with the United States by increasing imports.
He said the countries’ efforts to import US products and services to avoid additional tariffs will result in a huge reduction in China’s exports.
Under these circumstances, Pakistan has established contact with the United States to protect its interests. Pakistan is considering eliminating its trade surplus with the US.
The business leader said Pakistan can import iron, steel, cotton, soybean oil, LPG, and cyber security equipment from the US.
In addition, Pakistan is a nuclear power as well as a frontline state in the war against terrorism. Pakistan has handed over many terrorists to the US, which can be used to get concessions, he said.
Mian Zahid Hussain noted that the new American policy also creates new possibilities for Pakistan. Pakistan can further increase its current exports to the US by exporting mines, minerals, cement, and many other items.
In this situation, high-level contacts between the two countries are of exceptional importance, which has helped to remove many ambiguities regarding mutual relations.
Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar’s contact with the US Secretary of State and discussions on issues such as bilateral relations, regional and security, and economic cooperation are welcome, as they will yield better results.
Ishaq Dar informed his counterpart that Pakistan is committed to further strengthening its partnership with the US, while his counterpart described economic cooperation as necessary for future relations between the two countries.
Mian Zahid Hussain said that Pakistan should help resolve the issue of billions of dollars of American weapons in Afghanistan because, firstly, this is a demand of the US. Secondly, these weapons are also being used for terrorism in Pakistan.
Mian Zahid Hussain said that the US Secretary of State has appreciated Pakistan’s efforts against terrorism and has also expressed his desire to enhance further cooperation to eliminate terrorism.
The US Secretary of State desired to increase cooperation with Pakistan in trade and investment. It was also agreed to continue close contacts, advance interests, and work together, which reflects Pakistan’s strategic importance.
Mian Zahid Hussain said that restoring high-level contacts between the two countries is a positive decision that can benefit both countries.
He noted that if nothing worked for Pakistan, the maximum loss would be 600 to 700 million dollars.