Prime Minister Shehbaz Sharif has welcomed the launch of Kuwait based Raqami Islamic Digital Bank in Pakistan, calling it a major step forward for the country’s financial sector. \
The bank has received a licence as Pakistan’s third digital retail bank, marking steady progress in the shift toward technology driven banking services.
Speaking at the licence awarding ceremony in Islamabad, the prime minister described the development as a milestone for financial inclusion and innovation. He said digital Islamic banking can expand access to secure and Shariah compliant financial services, especially for people who remain outside the traditional banking system.
According to official data, a significant portion of Pakistan’s adult population is still unbanked, making digital platforms a key tool for wider outreach.
PM Shehbaz stressed that strong economic engagement must complement the long standing political ties between Pakistan and Kuwait. He noted that the new bank would not only modernize the financial ecosystem but also strengthen bilateral investment and cooperation.
Raqami Islamic Digital Bank aims to offer fully digital services, including account opening, payments, and financing solutions, through mobile and online platforms.
Officials said the model will improve efficiency, reduce operational costs, and provide customers with faster, more transparent services.
The Kuwaiti ambassador and senior bank representatives praised the initiative, highlighting its potential to promote sustainable financial collaboration.
The launch reflects growing confidence in Pakistan’s digital banking framework and signals continued efforts to align the country’s financial system with global technological trends.
