ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Tuesday termed the granting of a commercial licence to Raqami Islamic Digital Bank a major milestone in Pakistan’s evolving financial sector and a significant step toward deepening Pakistan–Kuwait bilateral economic cooperation.
Addressing the concluding session of the license awarding ceremony, the prime minister said that strong political relations must be complemented by robust economic engagement, stressing that sustainable partnerships cannot flourish without trade, investment, and financial collaboration.
“Pakistan and Kuwait are brotherly countries bound by decades of strong cultural, political, and people-to-people relations,” Prime Minister Shehbaz Sharif said, adding, “It is now time to further strengthen our economic and investment ties so that this relationship grows from strength to strength.”
The prime minister congratulated Raqami Islamic Digital Bank on becoming Pakistan’s third licensed digital retail bank, expressing confidence that the institution would contribute to financial inclusion, innovation, and Shariah-compliant banking in the country. He said digital Islamic banking would play a key role in modernising Pakistan’s financial ecosystem while remaining aligned with Islamic principles.
Speaking on the occasion, the Kuwaiti ambassador congratulated the Raqami team and described 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 further expand cooperation in trade, investment, and financial services.
Chairman of the Board of Directors of Raqami Islamic Digital Bank, Abdullah Al-Mutari, thanked the Government of Pakistan and the State Bank for their support and presented a commemorative memento to Prime Minister Muhammad Shehbaz Sharif to mark the occasion.
Raqami Islamic Digital Bank CEO Umair Ijaz said the bank would offer fully Shariah-compliant digital banking services designed to enhance accessibility, efficiency, and customer experience, while supporting Pakistan’s broader financial inclusion agenda.
The ceremony was attended by Ambassador of Kuwait, Nassar Abdul Rahman Jasser, Acting Governor State Bank of Pakistan, senior government officials, and executives from the banking and financial sector.
