Pakistan’s financial sector has received a fresh boost as confidence among global partners continues to strengthen, supported by facilitation from the Special Investment Facilitation Council (SIFC).
In a major development, Raqami Islamic Digital Bank has been launched with financial backing from Kuwait and is set to begin operations in Pakistan next month. The bank will start with an initial investment of 100 million US dollars.
Raqami Islamic Digital Bank has been established with the support of the Kuwait Investment Authority (KIA), and its launch is being described as a significant milestone for Pakistan’s financial sector, particularly in the area of digital and Islamic banking.
Adviser to the Prime Minister on Finance, Khurram Shehzad, said the investment reflects growing international confidence in Pakistan’s improving economy and ongoing structural reforms. He said the initiative clearly demonstrates trust in Pakistan’s economic direction and reform agenda.
He added that financial and investment cooperation between Pakistan and Kuwait is strengthening, particularly in the fields of finance and the digital economy. According to him, the investment will play an important role in promoting digital transformation and strengthening the country’s financial system.
Raqami Bank will operate as a fully digital Islamic bank, aiming to use modern technology to make banking more efficient and to bring a larger segment of the population into the formal financial system.
Officials said that effective facilitation by SIFC is helping pave the way for a modern, sustainable and investor-friendly financial framework in Pakistan.
