Overview
- Prime Minister Shehbaz Sharif presided over the Islamabad ceremony, calling the licence a milestone for Pakistan’s financial sector and for ties with Kuwait.
- Raqami Islamic Digital Bank becomes Pakistan’s third licensed digital retail bank under the State Bank of Pakistan’s push to expand digital access.
- The Kuwait Investment Authority backs the Karachi-based lender, which completed a pilot phase after receiving a restricted licence last year.
- Company statements say commercial operations are planned to begin in February, with services focused on SMEs, freelancers, and underserved customers.
- Officials from the SBP and Kuwait’s ambassador publicly endorsed the move as part of broader economic cooperation and financial inclusion efforts.