mm-news-@dmin Digital bank licence marks milestone for financial inclusion and bilateral trade, says premier
- PM Shehbaz hopes the bank will advance financial inclusion.
- Says digital Islamic banking is to play a key role in the financial sector.
- Kuwaiti envoy says launch a practical demonstration of ties.
Prime Minister Shehbaz Sharif on Tuesday welcomed the launch of a Kuwaiti bank in Pakistan. Describing the granting of its commercial licence is described as a milestone in the country’s financial sector. And a boost for Pakistan–Kuwait economic ties.
While addressing the licence awarding ceremony in Islamabad, he said that strong political relations must go hand in hand with robust economic engagement and stressed that sustainable partnerships cannot flourish without trade, investment, and financial collaboration.
He congratulated the Kuwait-based bank for becoming Pakistan’s third licensed digital retail bank. And expressed confidence that it would advance financial inclusion, innovation, and Shariah-compliant banking.
PM Shehbaz said that digital Islamic banking would play a key role in modernising Pakistan’s financial ecosystem. While remaining aligned with Islamic principles.
“Pakistan and Kuwait are brotherly countries bound by decades of strong cultural, political, and people-to-people relations,” the premier said. “It is now time to further strengthen our economic and investment ties. So that this relationship grows from strength to strength.”
The Kuwaiti ambassador praised the bank’s launch as a practical demonstration of the long-standing brotherly relations between the two countries.
He said that Kuwait’s leadership had consistently supported Pakistan. And was keen to further expand cooperation in trade, investment, and financial services.
The Kuwait-based bank’s chairman thanked the government of Pakistan and the State Bank of Pakistan (SBP), presenting a commemorative memento to PM Shehbaz.
Another bank official said that the bank would offer fully Shariah-compliant digital banking services to enhance accessibility, efficiency, and customer experience while supporting Pakistan’s financial inclusion agenda.
Acting governor of the SBP, senior government officials, and leaders from the banking and financial sector also attended the licence awarding ceremony.
