ISLAMABAD: Pakistan’s first fully digital Islamic banking platform, Aik by BankIslami, said on Tuesday it had partnered with the State Bank of Pakistan to hold financial literacy sessions in a rural community near the capital, part of efforts to expand digital payments and banking in underserved areas.
The initiative forms part of Islamabad’s national shift toward a cashless system, with the central bank describing digitalization as key to widening financial access, reducing cash dependency and aligning the economy with global banking practices.
Under the initiative, a training session was held in Maira Bagwal village where merchants, vendors and small business owners were trained in how digital Islamic banking works and how electronic payments can replace cash-based transactions that still dominate Pakistan’s informal economy.
“Through ‘aik’ we are helping drive the growth of Islamic banking by giving communities simple access to Shariah-compliant digital financial services,” Aik Chief Officer Ashfaque Ahmed said in a statement. “When people adopt digital banking, financial inclusion improves, and more families are able to participate in a fair and transparent financial system.”
Aik and BankIslami said they would continue working with the State Bank to run more awareness drives and onboard local merchants into the digital ecosystem.
