— PM stresses economic engagement as pillar of Pakistan–Kuwait relations
— Raqami becomes Pakistan’s third licensed digital retail bank
— Islamic digital banking seen as key to financial inclusion and innovation
— Kuwait signals stronger cooperation in trade, investment and finance
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday termed the granting of a commercial licence to Raqami Islamic Digital Bank a landmark development for Pakistan’s financial sector and a major step towards deepening economic cooperation with Kuwait.
Addressing the concluding session of the licence awarding ceremony, the prime minister stressed that strong political relations must be reinforced through meaningful economic engagement, noting that sustainable partnerships could not endure without robust trade, investment and financial collaboration.
“Pakistan and Kuwait are brotherly countries bound by decades of strong cultural, political and people-to-people relations,” PM Shehbaz said, adding that the time had come to further strengthen economic and investment ties so the relationship could “grow from strength to strength”.
Congratulating Raqami Islamic Digital Bank on becoming Pakistan’s third licensed digital retail bank, the prime minister expressed confidence that the institution would promote financial inclusion, innovation and Shariah-compliant banking. He said digital Islamic banking would play a crucial role in modernising Pakistan’s financial ecosystem while remaining aligned with Islamic principles.
The Kuwaiti ambassador also congratulated the Raqami team, describing the licensing of the digital bank as a practical manifestation of the deep-rooted brotherly relations between Pakistan and Kuwait. He said Kuwait’s leadership had consistently supported Pakistan and was keen to expand cooperation in trade, investment and financial services.
Abdullah Al-Mutari, chairman of Raqami Islamic Digital Bank’s board of directors, thanked the government and the State Bank of Pakistan for their support and presented a commemorative memento to the prime minister.
Raqami Islamic Digital Bank Chief Executive Officer Umair Ijaz said the bank would offer fully Shariah-compliant digital banking services aimed at improving accessibility, efficiency and customer experience, while supporting Pakistan’s broader financial inclusion agenda.
