UAE’s Mashreq launches Shariah-compliant digital banking services in Pakistan

UAE’s Mashreq launches Shariah-compliant digital banking services in Pakistan
Mashreq Bank officials gesture for a group photograph with Pakistan Prime Minister during the launching of its digital banking services in Islamabad on September 16, 2025. (Handout/Mashreq Bank)
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UAE’s Mashreq launches Shariah-compliant digital banking services in Pakistan

UAE’s Mashreq launches Shariah-compliant digital banking services in Pakistan
  • Mashreq commits $100 million to Pakistan digital bank, aims to boost inclusion, remittances
  • New services aim to drive remittances, financial inclusion and job creation over next decade

KARACHI: Leading UAE lender Mashreq on Tuesday announced the launch of its digital banking services in Pakistan, offering fully Shariah-compliant online solutions as part of a $100 million commitment to the South Asian country.

Pakistan, where nearly 70 percent of adults remain outside the formal financial system, has been encouraging foreign and local lenders to expand digital banking to increase inclusion and attract investment. The State Bank of Pakistan introduced a new regulatory framework in 2022 and has since granted licenses to several digital banks, including Mashreq, as part of efforts to modernize the sector.

Mashreq, Dubai’s third-largest lender by assets, registered in Pakistan in 2023 before receiving central bank approval to launch Islamic banking operations last year.

The bank said its new platform will be powered by “state-of-the-art technology, seamless customer experience and a strong commitment to responsible banking.”

“Mashreq Bank Pakistan aims to offer unparalleled digital banking solutions, built to be fully Shariah compliant,” the bank said in a statement, adding that it aimed to drive digital transformation, financial inclusion and job creation over the next five to ten years.

Pakistani customers will be able to access zero-fee ATM withdrawals, free debit cards and AI-driven risk controls. Overseas Pakistanis in the UAE will also be able to open accounts back home and remit funds seamlessly through the new platform.

On the occasion, Mashreq Chairman Abdul Aziz Al Ghurair highlighted the bank’s decades-long relationship with Pakistan.

“Dating back to the establishment of our representative office in Karachi in 1978, we start a new chapter in our journey, grounded in trust, shaped by regional aspirations and backed by long-term cooperation,” he said.

“Pakistan is a story of resilience and sustained ambition and we’re here because the future is promising and we want to help build it.”

Mashreq Bank Pakistan Chairman Fernando Morillo said the institution’s vision was to create an ecosystem where consumers, small and medium enterprises and overseas Pakistanis could connect to financial opportunities.

“Pakistan marks the first international market where we are deploying Mashreq’s full-service digital retail bank,” he said.

The bank’s global capability center in Pakistan already employs more than 415 people across technology, compliance, human resources and customer experience.

Pakistan, with a $350 billion economy and a large overseas workforce -more than 2.5 million Pakistanis live in the UAE alone — relies heavily on remittances, much of which flows through the banking system. Mashreq said its new platform would help streamline remittance inflows while providing digital-first solutions to local consumers.

The bank’s statement said Mashreq had committed $100 million by this year to support its operations in Pakistan through the digital bank and global capability center.


Beijing, Islamabad sign MoUs to advance agricultural, environmental initiatives in Pakistan

Beijing, Islamabad sign MoUs to advance agricultural, environmental initiatives in Pakistan
Updated 16 September 2025

Beijing, Islamabad sign MoUs to advance agricultural, environmental initiatives in Pakistan

Beijing, Islamabad sign MoUs to advance agricultural, environmental initiatives in Pakistan
  • President Asif Ali Zardari, who is in China on a ten-day visit, oversaw the signing of the agreements
  • These agreements reflect a step toward strengthening cooperation between Pakistan, China, he says

ISLAMABAD: Pakistan and China have signed multiple memorandums of understanding (MoUs) aimed at strengthening cooperation in agriculture, environmental protection and mass transit, President Asif Ali Zardari’s office said on Tuesday, marking a new phase in bilateral collaboration between both countries.

The first MoU was related to the development of a Controlled Agriculture Science and Education Park to enhance agricultural production efficiency and strengthen food security.

The second one related to the construction of Shennong College, a vocational institute in Pakistan, to provide advanced integrated technology and training to farmers. The third agreement was about a Tyre Recycling Project, promoting environmentally sustainable waste management practices.

“These MoUs reflect a practical step toward strengthened cooperation between Pakistan and China in agriculture, technology, and environmental management,” President Zardari’s office quoted his as saying on the occasion.

President Zardari has been in China on a ten-day visit since Sept. 12, following an official trip to China by Prime Minister Shehbaz Sharif during which Islamabad signed investment agreements and joint ventures worth $8.5 billion with Beijing.

Separately on Tuesday, the Pakistan president met Chen Jining, secretary of the Communist Party of China (CPC), in Shanghai, where he was briefed on the city’s transformation from a manufacturing hub to a major center of the service industry.

“The meeting also discussed opportunities for industrial collaboration in Pakistan’s Special Economic Zones and Gwadar Free Zone, particularly in technology, IT, artificial intelligence and innovation,” Zardari’s office said in a statement.

Pakistan views China as an important strategic ally and investment partner, which has funneled billions of dollars into the country under the China-Pakistan Economic Corridor (CPEC) energy and infrastructure project for over a decade.

Beijing is Pakistan’s largest trading partner, with bilateral trade topping $25 billion in recent years, while Chinese firms have also invested heavily in Pakistan’s power, transport, infrastructure and telecom projects.

President Zardari also met Zhu Xiaoping, CEO and Co-founder of SUS Environment Technology Co. Ltd., a leading Chinese waste management company, in Shanghai, with discussions focusing on urban waste management, waste-to-energy projects and integrated treatment solutions.

“President Zardari underlined Pakistan’s need for modern waste management systems, especially in Sindh, and welcomed the prospect of cooperation,” his office added. “Mr Zhu shared SUS Environment’s experience in advanced waste treatment and expressed interest in investing in Pakistan.”
 


Pakistan issues list of certified tour operators to save Umrah pilgrims from fraud

Pakistan issues list of certified tour operators to save Umrah pilgrims from fraud
Updated 16 September 2025

Pakistan issues list of certified tour operators to save Umrah pilgrims from fraud

Pakistan issues list of certified tour operators to save Umrah pilgrims from fraud
  • Thousands of Pakistanis travel to each month to visit the holy sites
  • Ministry urges pilgrims to verify travel agencies before booking Umrah tickets

ISLAMABAD: Pakistan’s religious ministry on Tuesday published a list of 113 certified Umrah companies on its website, urging intending pilgrims to verify credentials of travel agencies before booking tickets to to avoid fraud.

Thousands of Pakistanis travel to each month to visit the holy sites in Makkah and Madinah for the voluntary Umrah pilgrimage, a shorter version of Hajj.

Pakistan’s religious ministry issues a list of certified Umrah companies each year to help these pilgrims avoid being defrauded by scammers posing as Umrah service providers.

“Umrah pilgrims must verify the company from the ministry’s website before booking,” the ministry said. “The money should be paid into the company account through banks.”

The statement came days after Pakistan’s Federal Investigation Agency arrested a woman in the northwestern Khyber Pakhtunkhwa province for allegedly running a multi-million-rupee fraud involving Hajj and Umrah packages, Pakistani state media reported.

The woman was wanted in two cases dating back to 2017 and 2018.

The religious affairs ministry urged pilgrims to obtain a copy of the payment receipt and agreement from the company.

“A complete package including visa, air tickets, transport and accommodation should be booked from Umrah companies,” the ministry added.


Pakistan taps Arab innovations in bid to expand global share of date trade

Pakistan taps Arab innovations in bid to expand global share of date trade
Updated 16 September 2025

Pakistan taps Arab innovations in bid to expand global share of date trade

Pakistan taps Arab innovations in bid to expand global share of date trade
  • Pakistan, the world’s fifth-largest date producer, hosts second international festival in Karachi
  • UAE, Egypt, Jordan firms showcase packaging, cold storage, eco-friendly date palm products

KARACHI: Hundreds of Pakistani growers, exporters and international experts gathered in Karachi on Tuesday for the second Pakistan International Date Palm Festival to exchange ideas, showcase innovations and forge new trade links as the Pakistan’s date farming industry looks to modernize and expand its global reach.

The festival was organized in the port city of Karachi by the Trade Development Authority of Pakistan (TDAP) under the patronage of the United Arab Emirates’ Khalifa International Award for Date Palm & Agricultural Innovation.

The three-day event, running till Thursday, is featuring stalls from several countries, including the UAE, Egypt and Jordan, which offered different varieties of dates, farming techniques and packaging solutions to Pakistani growers.

With Pakistan ranked as the world’s fifth-largest date producer, yielding around 535,000 tons annually, the event aimed to help local growers meet the stringent requirements of international markets.

“The purpose of coming here is to connect our linkages with other countries, especially and Dubai, so that we can improve our business and go toward import and export,” Ameer Sultan Zehri, a grower from Kharan in Pakistan’s Balochistan, told Arab News.

While Pakistan boasts diverse and high-quality date varieties, many farmers face logistical and technological barriers.

“I saw a lot of growers of date palms in Pakistan, [saw] different varieties,” said Engineer Mohamed Hasan Al-Shamsi Al-Awadhi, a board member of the UAE’s Date Palm Friends Society.

“We are very happy to be with them and to discuss what cooperation we can make with them for import and for export.”

Al-Awadhi stressed the importance of “proper packaging and quality control.”

“When you want to export internationally, you need good packing, good variety, good size,” he said, noting that European markets particularly demand strict specifications.

Growers like Ghulam Qasim Jiskani from Khairpur in Pakistan’s southern Sindh province had the same concerns.

“We don’t have factories to process dates,” he said. “If we have the same facilities, cold storage, marketing, and packaging, we can compete with the world.”

Jiskani, patron of the Pakistani Date Palm Growers Association, said he had personally imported and cultivated 15 varieties of date palms from the Gulf countries, which yielded “excellent results,” but it was hard to make a leap in export without necessary processing infrastructure in Pakistan.

To help address these gaps, international firms at the festival introduced new solutions, aimed at boosting farmer profitability and reducing waste.

Nur Al-Muhammad Berdibekov, manager of the UAE-based Best Bags Packing and Packaging Materials Trading LLC, displayed new mesh bags that protect dates from environmental damage and bird attacks.

“For the Pakistani market, it’s not new, but for the dates [industry], mesh bag, it’s new, new technology for them,” he said, adding the bags will help farmers save dates, reduce waste and increase profit.

On the sustainability front, Egypt’s Valorizen Research and Innovation Center firm showcased technology that transforms date palm waste, often burned or dumped in Pakistan, into thermal insulation and other eco-friendly products.

“[What] we provide is a solution of how to convert this biomass into an added-value product, maybe to substitute few imported products, maybe to substitute other types of, let’s say, material that are produced from petroleum-based ingredients,” Said Awad, an official at the Egyptian firm, told Arab News.

“If commercialized, this can be replicated in Pakistan and provide environmental and economic benefits.”

The festival also drew interest from exporters looking to tap into the growing Pakistani date market.

Amjad M. Tadros of Jordan’s Nadine Dates was seeking to capitalize on growing demand in Pakistan for his company’s unique ‘Madjoul’ dates.

“We would like to offer them the knowledge about the dates,” he said, “the different kinds of dates and why Madjoul dates are better and how to best market them.”


Pakistan cancel press conference amid India handshake row in Asia Cup

Pakistan cancel press conference amid India handshake row in Asia Cup
Updated 16 September 2025

Pakistan cancel press conference amid India handshake row in Asia Cup

Pakistan cancel press conference amid India handshake row in Asia Cup
  • The Pakistan Cricket Board is awaiting a response from the International Cricket Council over a protest about match referee Andy Pycroft
  • The PCB alleges Pycroft told Pakistan skipper Salman Agha not to shake hands with Indian captain Suryakumar Yadav before the match last week

DUBAI: Pakistan canceled a pre-match press conference at the Asia Cup on Tuesday as the fallout rumbles on from a handshake row with arch-rivals India.

The Pakistan team did however turn up for practice on the eve of Wednesday’s group game against hosts the United Arab Emirates.

“Pakistan has decided not to hold their pre-match press conference today,” a short message from the Asian Cricket Council said.

The Pakistan Cricket Board (PCB) is awaiting a response from the International Cricket Council over a protest about match referee Andy Pycroft.

The Zimbabwean oversaw Sunday’s politically charged clash with India, after which the victorious India team refused to shake hands with the Pakistan players.

The PCB alleged that Pycroft told Pakistan skipper Salman Agha not to shake hands with Indian counterpart Suryakumar Yadav before the match.

Pycroft is scheduled to be the match referee for the game on Wednesday.

If Pakistan beat the home side in Dubai they will face neighbors India again on Sunday in the next round.

Last Sunday’s seven-wicket defeat to India was the first time the rivals had faced off in cricket since the countries fought a brief but deadly border conflict in May.


Pakistan PM orders comprehensive flood loss survey as river levels ease downstream

Pakistan PM orders comprehensive flood loss survey as river levels ease downstream
Updated 16 September 2025

Pakistan PM orders comprehensive flood loss survey as river levels ease downstream

Pakistan PM orders comprehensive flood loss survey as river levels ease downstream
  • PM Sharif says full assessment needed before government can finalize recovery plan
  • Punjab death toll rises to 112 since late August, with 4.7 million people affected

KARACHI/ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif on Tuesday directed federal and provincial authorities to conduct a comprehensive and “realistic” assessment of the human, financial and agricultural losses caused by weeks of monsoon rains and floods, warning that rehabilitation efforts could only be planned once the full scale of damage was known.

Heavy rains and excess water released from Indian dams caused the rivers in the province of Punjab to swell late last month, inundating more than 4,700 villages in the country’s agricultural heartland, destroying crops and homes, and forcing millions to flee.

Since the onset of the monsoon season on June 26, Punjab has reported 290 deaths out of a nationwide toll of 992, according to the National Disaster Management Authority (NDMA). Other casualties include 504 deaths in northwestern Khyber Pakhtunkhwa province, 80 in Sindh, 41 in Gilgit-Baltistan, 38 in Azad Kashmir, 30 in Balochistan and nine in Islamabad.

Chairing a floods review meeting in Islamabad, PM Sharif said damages to crops, livestock, roads and communications must be counted alongside deaths and displacement and instructed agencies to seek satellite support from the Pakistan Space and Upper Atmosphere Research Commission (SUPARCO). He also called on authorities to prioritize crop protection and road restoration in inundated areas.

“Only after a complete estimation will the government formulate a comprehensive strategy for rehabilitation so that effective progress can be made in the restoration of affected areas and people,” Sharif said in a statement.

Earlier on Tuesday, the Punjab Provincial Disaster Management Authority (PDMA) said the provincial death toll had risen to 112 since late August and that a survey had been launched to assess household and crop losses.

More than 4.7 million people and 4,700 villages have been affected, according to the Punjab Disaster Management Authority, with 2.6 million people relocated to safer areas, the PDMA said. 

As stagnant floodwaters linger, officials have warned of an elevated risk of dengue fever in urban and rural centers, with the meteorological department cautioning of “unprecedentedly high risk” of outbreaks in at least ten major cities from Sept. 20.

Despite contributing less than one percent of global greenhouse gas emissions, Pakistan is among the countries most vulnerable to climate change. Catastrophic floods in 2022 killed nearly 1,700 people, submerged a third of the country at one point, and inflicted over $30 billion in damages, according to government estimates.

RIVERS FLOW DOWNSTREAM

After swelling in Punjab last month, the Ravi, Sutlej and Chenab rivers are now feeding into the Indus as floodwaters move south toward Sindh province. These rivers meet at Panjnad in southern Punjab before joining the Indus, Pakistan’s main waterway, which flows the length of the country before emptying into the Arabian Sea.

Latest flow readings on Tuesday evening showed levels easing or holding steady at most points.

On the Chenab, water remained stable at the Marala, Khanki and Qadirabad headworks — barrage-like control structures that regulate flows into Punjab’s canal system — while downstream at Trimmu inflows were measured at 78,756 cusecs.

On the Ravi, inflows were steady at Jassar near the Indian border, Shahdara on the outskirts of Lahore, and Balloki further south. The Sutlej also remained high but largely stable, with 89,060 cusecs at Ganda Singh Wala near Kasur, 90,593 at Sulemanki, and 65,224 at Islam Headworks. At Panjnad, where Punjab’s five rivers converge, inflows reached 219,434 cusecs.

Downstream in Sindh, the Indus continued to run high, with 609,137 cusecs recorded at Guddu Barrage and 502,667 at Sukkur, still classed as “high flood.” Kotri Barrage, the last major control point before the river enters the Arabian Sea, eased to around 293,000 cusecs in the “medium flood” range.

Authorities warned elevated levels would persist at Sukkur for several days before gradually receding toward Kotri.