ISLAMABAD: Pakistan is seeking to attract Chinese fintech investment as it accelerates a broader push to expand digital finance, improve access to credit for small businesses and modernize its largely cash-based economy, the information ministry said on Thursday.
The move was underscored during a meeting in Islamabad between Federal Minister for the Board of Investment Qaiser Ahmed Sheikh and a delegation from Fintopia China, a financial technology firm exploring potential entry into Pakistan’s digital finance market. The outreach comes as the government places increasing emphasis on technology-led growth and foreign investment, particularly in financial services, amid efforts to boost financial inclusion and support small and medium-sized enterprises. Pakistan has in recent years expanded branchless banking, digital wallets and mobile payment systems, while also rolling out regulatory reforms aimed at improving the ease of doing business.
Fintopia is a China-based financial technology group that operates digital lending and consumer finance platforms across several emerging markets, according to company information. China hosts one of the world’s largest fintech ecosystems, driven by mass adoption of mobile payments, digital credit and data-driven financial services, while Pakistan’s fintech sector, though far smaller, has grown rapidly as smartphone use rises and demand for digital financial services expands.
