easypaisa and Binance Sign MoU to Explore Emerging Financial Technology Growth in Pakistan
The two parties came together in Pakistan’s capital, signaling increased focus on building a robust and compliant digital financial ecosystem
easypaisa digital bank has signed a Memorandum of Understanding (MoU) with Binance, the world’s leading blockchain ecosystem and cryptocurrency exchange, to explore the adoption and growth of emerging financial technologies, as well as innovative digital savings and investment solutions in Pakistan.
The MoU was signed in Islamabad by Jahanzeb Khan, President & CEO of easypaisa digital bank, and Tarik Erk, Regional Head for MENAT and Senior Executive Officer (SEO) Abu Dhabi at Binance, in the presence of senior representatives from both organizations. The collaboration reflects easypaisa’s commitment to supporting innovation and the responsible growth of Pakistan’s digital financial ecosystem.
Under the MoU, easypaisa and Binance will initiate exploratory discussions to assess potential areas of collaboration aimed at supporting the development of Pakistan’s digital savings and investment ecosystem. Any future collaboration will remain subject to applicable regulatory approvals, evolving regulatory frameworks, and the fulfillment of all licensing and compliance requirements.
Binance serves more than 300 million registered users globally and offers a comprehensive suite of blockchain and digital financial technology solutions, including trading platforms, financial products, educational initiatives, and Web3-enabled services. Operating with a strong emphasis on security and regulatory compliance, the company is committed to fostering a more inclusive digital economy that enhances financial access and opportunity worldwide. Binance has also obtained AML registration under the Pakistan Virtual Assets Regulatory Authority (PVARA), marking an important step in supporting Pakistan’s regulated digital financial ecosystem.
Proposed initiatives under the MoU may include awareness, education, and capacity-building initiatives from an exploratory perspective, which will accordingly enable the bank to develop potential future initiatives in line with applicable regulatory guidelines.
The collaboration reflects growing interest in digital savings and technology-enabled financial innovation, particularly among Pakistan’s rapidly expanding digitally connected population. Pakistan continues to present significant potential for growth in emerging financial technologies, with innovation-led investment and technology initiatives offering promising opportunities for the country’s broader digital economy.
Commenting on the collaboration, Jahanzeb Khan, President & CEO, easypaisa digital bank, said, “easypaisa digital bank is committed to making digital banking easy and secure for our customers. Leveraging Binance’s expertise in emerging areas of financial technology presents an opportunity for us to learn and explore in line with the guidelines of the PVARA. We look forward to working with Binance to explore safer and more reliable ways to support digital financial access and innovation in Pakistan.”
Tarik Erk, Regional Head for MENAT and SEO Abu Dhabi at Binance, added, “Partnering with easypaisa reflects Pakistan’s growing potential as a forward-looking market for emerging financial technologies, supported by scale, trust, and increasing regulatory engagement. With rising awareness and interest across Pakistan, we believe Binance’s global expertise, combined with easypaisa’s local reach and scale, can help support responsible innovation and long-term ecosystem development.”
With a customer base representing one in every five Pakistanis, a 31% female user base, and more than 4.5 billion transactions processed in 2025, valued at over PKR 15 trillion — approximately 13% of Pakistan’s GDP easypaisa digital bank continues to set new benchmarks for digital banking and financial empowerment across Pakistan.
The Caribbean is Emerging Destination of Islamic Finance: Zubair Mughal
AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE), a globally recognized institution in the promotion and development of Islamic banking and finance, has initiated a landmark engagement to advance Shariah-compliant financial solutions across the Caribbean region. Mr. Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE, recently concluded an extensive North America and Caribbean tour, visiting Trinidad and Tobago, Barbados, and Saint Vincent and the Grenadines. The purpose of the visit was to assess the existing state of Islamic finance, identify growth opportunities, and build strategic relationships with financial professionals, regulatory authorities, and development organizations across these nations.
The Caribbean, generally comprising 33 entities, has historically functioned within a conventional banking framework. At a time when global Islamic finance assets climbed to USD 5.3 trillion in 2025 — growing 14.9% year-on-year and on track to surpass USD 6 trillion by end of 2026 — the Caribbean remains largely untouched by this expansion. Fragmented Shariah-compliant products serve mainly Muslim diaspora communities, with no Caribbean government yet having enacted comprehensive Islamic banking legislation. Awareness of instruments such as Murabaha, Musharakah, Ijarah, and Sukuk remains low among policymakers and financial professionals, constraining the sector’s potential to contribute to regional economic development.
Despite the limited current presence, the Caribbean offers significant untapped potential for Islamic finance. The region’s Muslim population — accounting for approximately 5% in Trinidad and Tobago and up to 13% in Guyana — alongside rising demand for ethical financial alternatives, and the infrastructure financing needs of 29 Caribbean small island developing states (ECLAC), create a highly receptive environment. Global Sukuk issuances surpassed USD 264 billion in 2025 and continued expanding through 2026, driven by sovereign borrowing and infrastructure needs — an instrument Caribbean nations are well-positioned to leverage. Islamic microfinance, meanwhile, can drive financial inclusion for small businesses and underserved communities. Takaful holds strong potential to address insurance gaps, and the region’s halal economy sectors — including tourism, agriculture, and food production — offer natural entry points for Shariah-compliant financial products. Additionally, the Caribbean’s climate resilience agenda aligns well with green Islamic finance instruments, opening doors for collaboration with Gulf Cooperation Council (GCC) investors and the Islamic Development Bank (IsDB).
During the tour of North America and the Caribbean, Mr. Zubair Mughal held strategic meetings with central bank officials, banking professionals, economic policymakers, and development organizations across the three visited nations. These engagements explored the feasibility of introducing Islamic banking windows and standalone Islamic financial institutions, and helped identify sector-specific opportunities for Shariah-compliant product deployment.
AlHuda CIBE’s strategic roadmap for the region focuses on four key pillars: regulatory advocacy and policy dialogue to develop enabling frameworks for Islamic finance; capacity building through specialized training and professional certification programs; industry promotion through conferences, media campaigns, and public awareness initiatives; and international collaboration with global Islamic finance bodies, GCC institutions, and multilateral development partners to channel Shariah-compliant investment into the Caribbean.
Mr. Muhammad Zubair Mughal, Chief Executive Officer of AlHuda CIBE, stated that the Caribbean holds extraordinary potential for Islamic finance, yet remains largely unexplored by the global industry. He noted that during his visits to Trinidad and Tobago, Barbados, and Saint Vincent and the Grenadines, the openness of financial institutions, government bodies, and business communities was deeply encouraging. He emphasized that Islamic finance offers ethical, inclusive, and sustainable solutions perfectly suited to address Caribbean challenges such as financial exclusion, infrastructure financing, and SME growth, adding that the Caribbean Islamic Banking and Finance Forum 2026 are AlHuda CIBE’s concrete commitment to turning this vision into reality.
As a direct outcome of this engagement, AlHuda CIBE has announced the Caribbean Islamic Banking and Finance workshop, to be held on June 24 and 25, 2026 in Trinidad and Tobago, under the theme “Bridging Global Islamic Finance with Caribbean Opportunities.” The Workshop will bring together central bank governors, finance ministers, Islamic banking experts, international investors, and financial professionals from across the Caribbean and the global Islamic finance community. It will serve as a premier platform for policy dialogue, knowledge exchange, and the forging of strategic partnerships that can accelerate the development of Islamic finance across the region.
Stock Market at 181,000 Points and 6.44 Percent Growth in LSM Are Welcome Signs of Recovery; Expensive Electricity and India-EU Trade Agreement May Cost the Textile Sector Over $2 Billion; New EFS Conditions Under SRO 528 Will Hurt Small Exporters: Mian Zahid Hussain
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum (PBIF) & All Karachi Industrial Alliance (AKIA), Chairman National Business Group Pakistan (NBG), Chairman FPCCI Policy Advisory Board and Former Provincial Minister of Information Technology, has expressed cautious optimism over positive economic indicators, while warning that Pakistan’s economy is standing at a decisive stage where timely policy action will determine whether the recovery becomes sustainable or loses momentum. He said that the recent rally at the Pakistan Stock Exchange and the rise of the KSE-100 Index to the historic level of 181,000 points reflect renewed investor confidence in the national economy. He noted that the introduction of the T+1 settlement cycle in February 2026 and the ceasefire understanding between the United States and Iran have improved market liquidity and strengthened investor sentiment.
Mian Zahid Hussain said that inflation rising to 11.7 percent in May and the policy rate remaining at 11.5 percent indicate that pressure on the economy has not fully eased. However, he added that the US-Iran ceasefire has created hopes of lower inflation, reduced energy uncertainty and possible monetary easing in the coming months. He appreciated the performance of Large-Scale Manufacturing, saying that industrial output increased by 6.06 percent in April 2026 on a year-on-year basis, while LSM overall posted 6.44 percent growth during the first ten months of the current fiscal year. This shows that local industry has once again started playing the role of the main engine of economic recovery. He said that the automobile sector, with 64.33 percent growth, petroleum products with 10.04 percent growth and cement with 9.13 percent growth remained the leading contributors to industrial momentum, reflecting improvement in logistics, construction and domestic economic activity. However, he warned that pharmaceuticals and iron and steel products continue to face contraction due to high production costs, which requires immediate government attention.
Mian Zahid Hussain said that the changes introduced by the FBR under SRO 528(I)/2026 dated March 19, 2026 in the Export Facilitation Scheme may help curb misuse and tax evasion, but they are also creating serious difficulties for small and medium-sized exporters. He said that linking the duty-free import of raw material directly with previous-cycle utilization and making six-monthly reconciliation statements mandatory will increase compliance pressure and create working capital and liquidity problems, particularly for garment manufacturers and SME exporters. Mian Zahid Hussain also urged the government to revise the SME turnover threshold, which currently stands at Rs250 million, keeping in view the depreciation of the rupee and rising business costs. He said that thousands of genuine exporters may otherwise be deprived of concessional tax treatment and pushed out of formal export activity.
The veteran business leader described the textile sector as facing a “competitiveness emergency,” saying that the sector, which contributes around 60 percent of Pakistan’s exports, is now fighting for survival. He said that textile exports stood at $1.42 billion in March 2026 and readymade garments recorded 9.91 percent growth, but knitwear exports declined by 8.36 percent, showing that the sector’s recovery remains uneven and fragile. He said that Pakistan is already facing a heavy US tariff of 29 percent, which may cause an export loss of around $2.17 billion during the current fiscal year. He warned that the recent India-EU trade arrangement has further weakened Pakistan’s competitive position by reducing the relative benefit of Pakistan’s GSP+ status, putting nearly $9 billion of exports to the European Union at risk.
Mian Zahid Hussain said that the biggest reason behind Pakistan textile sector’s loss of competitiveness is the unviable cost of electricity and gas. He said that electricity tariffs for industry have reached 13 to 15 cents per kilowatt-hour, including cross-subsidies of Rs7 to Rs9 per unit, making energy costs almost double compared to regional competitors such as India and Vietnam. He said that no export industry can compete internationally when it is forced to buy energy at regionally uncompetitive rates, pay high financial costs and face excessive tax and compliance burdens at the same time. He warned that if the government does not intervene immediately, Pakistan may lose hard-earned export markets to regional competitors.
Mian Zahid Hussain urged the government to activate the newly constituted private board of the Export Development Fund without delay and use EDF resources for the solarization of textile mills and transition toward cleaner and cheaper energy. He said that the upcoming Finance Act 2026 must rationalize electricity tariffs for export-oriented industries, simplify EFS compliance for SMEs and restore confidence among exporters. He concluded that the stock market rally and LSM growth are encouraging, but they cannot replace export competitiveness. Pakistan needs export-led growth, affordable energy, predictable taxation and practical facilitation for SMEs if it wants to protect jobs, earn foreign exchange and achieve sustainable economic stability.
Karandaaz Pakistan collaborates with ‘D-Tech’ to nurture AI-based Digital Financial Services
Karandaaz Pakistan has partnered with D-Tech & Consultancy Private Ltd. (DTC) to develop a customer-friendly solution named ‘My Intelligent Assistant’ (MIA) for enriching its ‘AI in Digital Payments Program’. ‘MIA’ is a Context-Aware AI Companion that will make digital financial services more accessible, intuitive, and inclusive for users across Pakistan.
Through this partnership, DTC will provide real-time, multilingual, and personalized guidance to users navigating Pakistan’s digital finance interfaces. Due to digital adoption and the speedy evolution of financial infrastructure, the number of users has grown rapidly. However, due to limited digital literacy, language barriers, and a lack of contextual support within applications, many customers continue to face challenges in completing digital transactions independently. Hence, the users’ confidence is hindered.
By integrating intelligent, context-sensitive assistance directly within digital financial applications, the ‘MIA’ solution will address many of these barriers. MIA is designed to serve as an intelligent companion that empowers users through personalized guidance. It can help bridge gaps in digital literacy and the wider outreach of financial services. Together, Karandaaz and DTC aim to establish a scalable framework for the deployment of AI-powered solutions within Pakistan’s digital financial ecosystem to deliver more meaningful benefits for users.
The CEO of Karandaaz, Waqas ul Hasan, said:
“Artificial Intelligence has the potential to transform how people engage with digital financial services. We are exploring innovative ways to make digital payments more user-friendly for all segments. Karandaaz Pakistan is committed to fostering innovation in digital finance and supporting the responsible adoption of emerging technologies.”
The Founder and CEO of D-Tech & Consultancy (Pvt.) Ltd, Adeel Dayo stated that:
“We are honored to partner with Karandaaz Pakistan in bringing My Intelligent Assistant (MIA) to life. As Pakistan’s digital financial ecosystem continues to grow, millions of users still face challenges in navigating digital interfaces of mobile wallets, and payment services. MIA is designed to bridge this gap by leveraging Context-Aware Artificial Intelligence to make digital financial interactions more accessible, intuitive, and inclusive. We believe this initiative has the potential to redefine how people interact with digital applications and contribute meaningfully to Pakistan’s financial inclusion and digital transformation agenda.”
Through MIA, Karandaaz Pakistan and DTC aim to leverage responsible AI adoption to build trust, improve digital engagement, and create a more inclusive financial ecosystem where technology delivers meaningful value for users.
Umeed-e-Sehar backs budget, calls out misinformation on tobacco tax
Umeed-e-Sehar has welcomed the Federal Budget 2026-27, citing its focus on supporting economic activity, encouraging formal business growth and strengthening compliance across key sectors. The organisation said policies aimed at expanding the tax base and backing legitimate businesses remain critical for sustainable economic growth.
Umeed-e-Sehar also appreciated the federal government’s continued commitment to curbing illicit trade, which it said deprives the exchequer of significant revenues while disadvantaging law-abiding businesses and distorting fair competition.
The organisation, however, expressed concern over claims made during National Assembly proceedings by a senator that the proposed Rs390 per kilogram advance tobacco tax would burden farmers, destroy livelihoods and facilitate monopolistic practices in the sector. Umeed-e-Sehar said such claims risk creating unnecessary fear among farming communities and misrepresenting the actual intent of the measure.
The organisation clarified that the proposed levy is not a direct tax on farmers and is paid by companies purchasing tobacco, not by growers. It said framing the measure as an attack on farmers diverts attention from the policy itself and undermines informed public debate.
“Farmers should not be used as a shield in debates where the facts suggest otherwise,” said Muhammad Jamil Arif, spokesperson for Umeed-e-Sehar. “Tobacco cultivation supports thousands of livelihoods and those livelihoods deserve to be protected through honest and informed discussion. When claims are made without accurately reflecting who bears the tax burden, they risk creating confusion and distracting attention from the policy itself.”
He welcomed the government’s rejection of claims that did not accurately reflect the structure of the proposal and reiterated that legitimate concerns deserve serious consideration only when grounded in fact.
The spokesperson said Umeed-e-Sehar remains committed to supporting measures that strengthen the formal economy, improve compliance and address illicit trade. He called for public policy discussions to stay grounded in accurate information, adding that Pakistan’s broader economic interests are best served when proposals are evaluated on their merits.
inDrive partners with MAL Pakistan to enhance driver welfare
inDrive, the global mobility and urban services platform has signed a strategic nationwide partnership with MAL Pakistan – Marketing Alliance of ExxonMobil Lubricants and Specialties. Through this collaboration, drivers across Pakistan will be able to access discounts on Mobil lubricants, along with support from Mobil’s nationwide network of retailers and workshops.
Grounded in a mutual commitment to economic empowerment and operational efficiency, the collaboration directly connects Mobil’s world-class automotive products with inDrive’s rapidly expanding driver community to actively reduce vehicle maintenance costs and maximise driver’s earning potential.
The signing ceremony was attended by senior corporate leadership and distinguished military dignitaries, including Awais Saeed, Country Manager for inDrive Pakistan, Khawar Jamal, CEO of MAL Pakistan, Murtaza Ali, CEO of JazzCash, Chief Guest AMD Maj Gen Syed Anis Akbar, HI(M) (Retd), and Guest of Honor COO Maj Gen Abid Latif, HI(M) (Retd).
“Our drivers operate on the frontlines of the gig economy, and safeguarding their vehicles is essential to ensuring their long-term economic sustainability,” said Awais Saeed, Country Manager for inDrive Pakistan. “This collaboration represents a fundamental building block in our continuous effort to empower our driver community and build a stronger mobility network across Pakistan.”
“This collaboration reinforces Mobil™’s commitment to leading the evolution of Pakistan’s mobility landscape by combining world-class lubricants with innovative digital solutions that deliver greater value to drivers, retailers, and consumers alike.” said Khawar Jamal CEO, MAL Pakistan Ltd.
The initiative uses targeted tactical resources to support drivers in the face of rising urban operational costs. As part of the rollout, a dedicated AutoSpa facility has been launched in Islamabad, offering specialised vehicle maintenance services.
Powering the financial architecture of this collaboration, JazzCash has integrated its digital payments ecosystem to enable secure, instant cashless transactions. This integration ensures that inDrive drivers can purchase premium Mobil lubricants and unlock exclusive platform offers with maximum convenience, eliminating the need for handling cash on the road.
As it continues to expand its ecosystem of driver-focused services, inDrive remains committed to helping drivers navigate everyday challenges with greater confidence and efficiency, supporting them every mile of the way.
Iranian President’s Visit Gives Fresh Momentum to Pak-Iran Economic Roadmap, Border Trade and $10 Billion Trade Target: Mian Zahid Hussain
Mian Zahid Hussain, President Pakistan Businessmen and Intellectuals Forum (PBIF) & All Karachi Industrial Alliance (AKIA), Chairman National Business Group Pakistan (NBG), Chairman FPCCI Policy Advisory Board and Former Provincial Minister of Information Technology, has termed the recent visit of Iranian President Dr Masoud Pezeshkian to Pakistan an important development in the continuity of Pakistan-Iran relations, confidence-building and the implementation of the already agreed economic cooperation agenda. He said that under the leadership of Prime Minister Muhammad Shehbaz Sharif, Pakistan has played an active and responsible role for peace, economic connectivity and diplomatic balance in the region, while the effective role of Field Marshal Syed Asim Munir in regional security, border stability and peace initiatives has further highlighted Pakistan’s strategic importance.
Mian Zahid Hussain said that the historical, cultural, religious and geographical proximity between Pakistan and Iran must now be transformed into a practical economic partnership so that bilateral trade, gas pipeline, energy cooperation, border connectivity and private-sector collaboration can be expanded on solid foundations. Mian Zahid Hussain further added that during the 2025 visit of Iranian President Dr Masoud Pezeshkian to Pakistan, both countries exchanged 12 agreements and memorandums of understanding in various sectors, while the target was also set to increase bilateral trade from around $3 billion to $10 billion. He said that following the recent Iran-US conflict, the current visit has given fresh diplomatic importance to this economic roadmap and has sent a clear message that both countries want to move beyond announcements and give practical shape to cooperation in trade, investment, border facilitation, energy, agriculture, information technology, communications and people-to-people contacts.Mian Zahid Hussain said that early finalisation of the Free Trade Agreement would be an important milestone for the business communities of both countries. However, he added that political commitment alone would not be enough to achieve this objective. Immediate practical steps are required for removing non-tariff barriers, developing workable alternative mechanisms for banking and payments, improving customs coordination, ensuring mutual recognition of standards and certifications, easing visa facilities and strengthening transport logistics. Mian Zahid Hussain said that unless the ground-level problems of trade are resolved, achieving the $10 billion bilateral trade target will remain difficult and strengthening border markets and border trade facilities at Gabd-Rimdan, Mand-Pishin and other crossing points can increase legal trade, reduce smuggling, create lawful employment opportunities for the local population and promote economic activity in border areas. Mian Zahid Hussain also welcomed the decision of the Federal Board of Revenue to declare Taftan Railway Station as a land customs station, saying that this step would facilitate import and export clearance through rail, reduce transportation costs, accelerate customs procedures and promote Pakistan-Iran border trade in a more organised manner.
Mian Zahid Hussain further said that barter trade, or trade through exchange of goods, is a practical option for both countries, especially in circumstances where international payments, currency exchange and banking channel issues continue to affect the pace of trade. He said that through this mechanism, bilateral trade can be promoted in rice, meat, agricultural products, livestock, food items, energy and industrial raw materials. He said that Pakistan is facing serious challenges including energy shortages, high production costs, expensive electricity and pressure on industry, while Iran can become an important partner for Pakistan in energy, petroleum products, border electricity, transit trade and regional connectivity. If this cooperation is advanced in a transparent, legal and sustainable manner, Pakistan’s industry, agriculture and export sectors can benefit significantly.
Mian Zahid Hussain said that in the current geopolitical situation of the region, cooperation between Pakistan and Iran has become more important than ever. Border peace, a joint strategy against terrorism, intelligence sharing, protection of trade routes and regional stability are shared requirements of both countries. He said that Pakistan and Iran are natural trade bridges between South Asia, Central Asia and the Middle East. Therefore, Gwadar and Chabahar should be viewed in the context of regional connectivity, transit trade and economic cooperation rather than competition. Mian Zahid Hussain said that the progress made and protocols agreed during the 22nd Pakistan-Iran Joint Economic Commission should also be pursued rapidly. He said that a permanent working mechanism comprising ministries, regulatory bodies, customs authorities, chambers of commerce, banking experts, logistics companies and private-sector representatives from both countries should be established to monitor the pace of implementation of decisions.
Mian Zahid Hussain urged the Government of Pakistan to move forward in a coordinated manner on the economic agenda agreed during the recent and previous visits of the Iranian president. He said that the $10 billion bilateral trade target can become a reality, provided that announcements are linked with practical steps, clear timelines, private-sector participation and facilitation of border trade. He said that the economic benefits of this process can directly reach the people, traders, industrialists, residents of border areas and the national exchequer.
BankIslami Strengthens Cyber Resilience through Strategic Partnership with Resecurity
BankIslami, one of Pakistan’s fastest-growing Islamic banks, partners with Resecurity, a leading US-based cybersecurity and intelligence company. Under this agreement, the Bank will utilize Resecurity’s advanced capabilities to further strengthen its security framework and ensure a safer digital banking experience for its customers.
Resecurity’s Digital Risk Monitoring (DRM) and Cyber Threat Intelligence (CTI) services will equip BankIslami with real-time visibility into potential external security threats. This capability enables proactive identification and mitigation of risks, bolstering the Bank’s defense protocols and supporting its mission to deliver secure, Shariah-compliant digital banking services to its customers.
The signing ceremony took place at BankIslami’s headquarters in the presence of senior leadership from both organizations, including Rizwan Ata – President & CEO, Imran H Shaikh – Dy Chief Executive Officer, Sohail Sikandar – Chief Operations Officer, Sajjad Qureshi – Chief Risk Officer from BankIslami, alongside Muhammad Bilal – Vice President of Operations and Burhan Sheikh – Strategic Advisor from Resecurity.
“Safeguarding our customers’ trust is our highest priority, and our teams work tirelessly to ensure every transaction remains safe and hassle-free,” commented Rizwan Ata, President & CEO of BankIslami. “This partnership with Resecurity brings world-class expertise to fortify our defenses, ensuring our digital ecosystem remains resilient and protected at all times,” he added.
This collaboration reflects BankIslami’s commitment to digital transformation, with security and safety at its core. As the bank continues to expand access to Islamic banking, this partnership reinforces its mission to deliver secure, convenient digital banking services that ensure every customer can access Riba-free and Shariah-compliant financial solutions.
Karandaaz Pakistan Mobilises Stakeholders to Drive Systemic Change for Women’s Economic and Digital Inclusion
Moving beyond isolated interventions toward system-level integration, Karandaaz Pakistan has intensified its push to embed gender equity across the national digital and financial ecosystem. Through its Women Economic and Digital Inclusion (WEDI) initiative, Karandaaz brought together the country’s leading financial institutions, regulators, and development partners for a strategic forum titled “Driving Systemic Change for Women’s Economic Inclusion.” The platform served to reinforce institutional commitments and showcase targeted interventions designed to eliminate gender-related economic disparities.
The forum highlighted the critical need to address Pakistan’s persistent gender gaps, where female labour force participation remains below 25%, and women account for a disproportionately low share of formal financial account ownership at 14% as per the Karandaaz Financial Inclusion Survey (K-FIS) 2024. To advance national financial inclusion priorities, the event featured the formal presentation of the organisation’s evolving institutional Gender Strategy by Samia Salik, Gender Lead at Karandaaz, alongside strategic project announcements and partner spotlights.
Speaking at the opening ceremony, Carol Coye Benson, Board Member, Karandaaz Pakistan, emphasised the organisation’s vision for gender mainstreaming:
“Financial inclusion is a powerful driver of economic resilience. Through Karandaaz, we are working to build digital financial systems that are inclusive by design. By building interoperable digital pathways and intentionally designing systems that serve women, we can unlock immense untapped economic potential. Providing women with reliable, digital access to financial tools is key to strengthening both families and the broader economy, by bringing underserved women into the formal financial fold”
A key milestone was the formal signing ceremony for the Financial Inclusion for Women Challenge (FIWC) Round 5, launching field partnerships with Mobilink Microfinance Bank Limited (MMBL) and Manzil Organization. Backed by Karandaaz, MMBL will onboard 50,000 women working in the agriculture sector by offering them digital banking services via its Dost app, combining financial literacy with free healthcare and savings products. Concurrently, another partner, Manzil Organization will empower 9,000 rural women in Balochistan by allotting farmland, agricultural kits, and establishing dedicated community markets in Naseerabad.
The Women Ventures Showcase highlighted a strategic partnership to close the financing gap for educational SMEs. The initiative was presented by Shumaila Rifaqat, Director of Innovation Investments at Karandaaz, and Kamran Azeem, CEO of Taleem Finance.
This collaboration targets the growth capital needs of low-cost private schools that are currently unserved by commercial banks. By deploying tailored capital, the initiative aims to expand classroom capacity and upgrade school infrastructure. These improvements will create safer learning environments, directly boosting retention rates for young girls.
A panel discussion featured prominent leaders from the public, private, and development sectors to explore sustainable and inclusive economic opportunities for women. Moderated by Gender and Policy Expert Aysha Shujaat, the dialogue featured Aamir Hafeez Ibrahim (CEO & President of JazzWorld, Chairman of Mobilink Bank & JazzCash), Musadaq Zulqarnain (Chairman, Interloop Ltd. and Board Member, Karandaaz Pakistan) Jamshed M. Kazi (Country Representative, UN Women Pakistan), and Sana Masood (Senior Public Sector Specialist, Asian Development Bank), who critically evaluated regulatory frameworks and model systems to sustain ecosystem alignment.
In her keynote address, Dr Elena Mylona, Counsellor and Group Head, Economics and Trade, at the British High Commission in Islamabad, highlighted the role of international development synergy, stating “Sustaining the momentum of women-inclusive growth requires institutionalising changes across markets and financial systems. Strategic alignments between ecosystem builders like Karandaaz and development partners are pivotal to breaking down structural barriers and ensuring women gain genuine economic agency.”
Speaking at the closing ceremony, Syed Salim Raza, Chairperson, Karandaaz Pakistan, emphasised the organisation’s vision for gender mainstreaming:
“Increasing women’s participation in the formal economy is absolutely critical to national economic growth, household resilience, and sustainable development outcomes. Karandaaz is moving beyond isolated interventions to embed women’s inclusion across our entire investment, innovation, and ecosystem portfolio. Our objective today was to foster deep collaboration with regulators, development networks, and the private sector to bridge the digital and financial access literacy gaps that restrict women from fully participating in Pakistan’s evolving digital economy.”
Emirates clinches Best Airline Worldwide at the 2026 Business Traveller Middle East Awards
- Airline honoured with top accolade for the 13th straight time
- Walks away with Best First Class and Best Airport Lounge
Emirates has once again been honoured at the 2026 Business Traveller Middle East (BTME) Awards, securing the industry’s most coveted accolade—Best Airline Worldwide—alongside Best First Class and Best Airport Lounge in the Middle East for its First Class Lounge at Dubai International Airport.
The long-running Business Traveller Middle East Awards are among the region’s most respected travel industry honours, recognising excellence across the business travel sector, with winners determined through nominations and votes cast by Business Traveller Middle East readers. Emirates’ Deputy President and Chief Commercial Officer, Adnan Kazim, accepted the awards on behalf of the airline.
The wins reflect Emirates’ commitment to enhancing the customer experience, both in the air and on the ground. With 219 Airbus A380s and Boeing 777s undergoing complete refurbishment, the airline’s fleet retrofit programme continues to accelerate, while ongoing new Airbus A350 deliveries bring its latest cabin products and technologies to a growing share of its global network of nearly 140 destinations.
The refurbished aircraft and new Airbus A350s now serve over 70 Emirates global destinations, delivering a more elevated and consistent inflight experience for customers travelling to, from, or through Dubai.
Emirates’ First Class sets the benchmark for luxury air travel, with enclosed private suites, a dine-on-demand menu featuring regionally inspired cuisine, unlimited caviar paired with Dom Pérignon champagne, luxurious loungewear and amenity kits by Bulgari, premium skincare products from Byredo, Shower Spa and the Onboard Lounge on the A380, and many other thoughtfully curated amenities. The premium experience, whether in First or Business Class, extends beyond the cabin with chauffeur-drive services in close to 90 Emirates’ destinations, priority airport services, and access to Emirates Lounges in more than 30 destinations worldwide.
Recognised as the Best Airport Lounge in the Middle East, the airline’s three First Class Lounges at Dubai International Airport offer à la carte dining, complimentary spa treatments, a premium duty-free shopping area, an exquisite wine selection, and direct boarding access from select gates, among many other benefits.
Continued investment across its products, services, and network keeps Emirates firmly ahead of the curve.
The airline recently rolled out Starlink on board and once complete, will operate the world’s largest Starlink-enabled international wide-body fleet. To date, 36 aircraft have been equipped with the high-speed connectivity service, enabling customers to stream content, game, make calls, work, and browse social media throughout their journey. Emirates also recently launched Comprehensive Travel Cover insurance, an industry first, offering travellers added peace of mind and protection while travelling. Later this year, in October, Emirates will launch a daily flight to Helsinki, making it the only year-round, direct link between Finland and the UAE.
Telenor Pakistan formally amalgamates into PTML following statutory approvals
Telenor Pakistan will formally amalgamate into Pak Telecom Mobile Limited PTML (Ufone 5G) with effect from July 2026, marking the completion of one of the most significant transactions in the country’s telecommunications history. The amalgamation follows the receipt of the final statutory approval from the Islamabad High Court, which brought to close a comprehensive regulatory process spanning multiple regulatory and statutory institutions. From here on, Telenor Pakistan will cease to exist as a separate legal entity.
With this development, Telenor Pakistan’s operations, network infrastructure, and customer base will be fully integrated into PTML (Ufone 5G), creating a combined entity with expanded reach, a stronger spectrum portfolio, and greater capacity to invest in next-generation connectivity and digital services across the country.
Speaking on the occasion, President & CEO, PTCL, Hatem Bamatraf, said, “This is a defining moment for our company and for Pakistan’s telecom industry. We are deeply grateful to the Government of Pakistan and to every institution involved in this process for their diligence, and support throughout this journey. I would also like to extend my heartfelt thanks to our customers, whose trust has carried both Ufone and Telenor Pakistan through this transition, and to our employees, whose dedication and hard work made this milestone achievable. As we come together as one company, our ambition is to bring our customers cutting-edge products and services that set a new benchmark for digital experience in Pakistan.”
The combined entity, (a wholly owned independent subsidiary of PTCL) will operate as PTML, with the continued commitment to expanding 5G coverage, strengthening digital infrastructure, and delivering improved services to millions of customers nationwide. Ufone 5G has promised continuity of service for both Ufone 5G and Telenor Pakistan customers during the integration process, with access to superior connectivity and digital experience.
inDrive announces STEM and AI education initiative to empower Pakistani youth and drivers’ families
inDrive, the global mobility and urban services platform, has announced an initiative to deliver high-impact STEM (Science, Technology, Engineering, and Mathematics) education, coding, and Artificial Intelligence (AI) training to school-age children and youth across Pakistan.
The student intake for the upcoming program is strategically designed to uplift the gig economy ecosystem, with 80% of the seats reserved exclusively for drivers’ children, and the remaining 20% dedicated to children from marginalised local communities, split across three distinct age groups. The program model arrives in Pakistan following a highly successful pilot framework in Egypt.
In an innovative twist that connects everyday commuting with community impact, inDrive users across Pakistan can now actively champion this educational cause. Passengers who ride using the app earn digital coins through the inDrive MAX loyalty program. The platform has integrated a donation feature that allows users to contribute their accumulated loyalty coins directly to fund the resources, equipment, and training infrastructure required for this STEM education initiative.
“Our goal is to treat technology and programming as tools for meaningful social action, not just as isolated digital skills,” said Muhammad Awais Saeed, Country Lead for inDrive Pakistan. “We want to teach young students how to build digital solutions that address real problems right inside their own communities. By introducing this curriculum, we are encouraging critical thinking, personal agency, and a deep understanding of technology’s positive impact on society.”
Upon its upcoming rollout, the initiative has set clear performance benchmarks to ensure measurable educational impact across the country. The program aims to fully train over 400 students in total, balancing the intake at approximately 100 children per regional location. To maintain an optimal learning environment, the curriculum will be delivered across four to five specialised learning groups in each location.
By bridging corporate infrastructure with grassroots community support, inDrive continues to challenge social inequities, ensuring the digital economy paves a sustainable path forward for the children of its most dedicated partners.