Pakistan Grants License to Raqami Digital Bank, Strengthening Bilateral Economic Cooperation with Kuwait
ISLAMABAD : Prime Minister Muhammad Shehbaz Sharif on Tuesday described the granting of a commercial license to Raqami Islamic Digital Bank as a landmark development for Pakistan’s financial sector and a significant step toward deepening economic ties with Kuwait.
Speaking at the license-awarding ceremony, the prime minister emphasized that strong political relations must be matched with robust economic engagement, noting that sustainable partnerships rely on trade, investment, and financial collaboration. “Pakistan and Kuwait are brotherly countries bound by decades of strong cultural, political, and people-to-people relations,” he said, adding, “It is now time to further strengthen our economic and investment ties so that this relationship grows from strength to strength.”
Congratulating Raqami Islamic Digital Bank on becoming Pakistan’s third licensed digital retail bank, PM Shehbaz Sharif expressed confidence that the institution would enhance financial inclusion, innovation, and Shariah-compliant banking in the country. He highlighted the role of digital Islamic banking in modernizing Pakistan’s financial ecosystem while remaining aligned with Islamic principles.
Kuwaiti Ambassador Nassar Abdul Rahman Jasser also lauded the bank’s licensing, calling it a practical reflection of the long-standing brotherly relations between the two countries. He reaffirmed Kuwait’s commitment to supporting Pakistan and expanding cooperation in trade, investment, and financial services.
Abdullah Al-Mutari, Chairman of Raqami Islamic Digital Bank, thanked the Pakistani government and the State Bank for their support and presented a commemorative memento to the prime minister. CEO Umair Ajaz said the bank would provide fully Shariah-compliant digital banking services designed to improve accessibility, efficiency, and customer experience, while advancing Pakistan’s broader financial inclusion agenda.
The ceremony was attended by senior government officials, executives from the banking sector, the Acting Governor of the State Bank of Pakistan, and representatives from the Kuwaiti embassy.
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