Pakistan, Kuwait ties deepen with Raqami Bank licence

February 10, 2026 (MLN): Pakistan and Kuwait’s growing economic cooperation received a boost with the granting of a commercial licence to Raqami Islamic Digital Bank, marks what  is described as a major milestone in Pakistan’s evolving financial sector and a practical step toward strengthening bilateral financial and investment ties.

The move is being viewed as an effort to translate long-standing political and cultural relations between the two countries into deeper trade, banking, and economic collaboration.

Prime Minister Muhammad Shehbaz Sharif termed the development a significant achievement while addressing the concluding session of the licensing ceremony, APP reported.

He stressed that strong political relations must be matched with robust economic engagement, noting that sustainable partnerships cannot flourish without trade, investment, and financial cooperation.

Congratulating Raqami Islamic Digital Bank on becoming Pakistan’s third licensed digital retail bank, he expressed confidence that it would promote financial inclusion, innovation, and Shariah-compliant banking.

The Kuwaiti ambassador, Nassar Abdul Rahman Jasser, also congratulated the Raqami team and described the licence as a practical manifestation of deep-rooted brotherly relations between the two nations.

Shehbaz Sharif said digital Islamic banking would play a key role in modernising Pakistan’s financial ecosystem while remaining aligned with Islamic principles.

He added that Pakistan and Kuwait are bound by decades of cultural, political, and people-to-people relations, and it is time to further strengthen economic and investment ties so the relationship continues to grow stronger.

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 the prime minister to mark the occasion.

CEO Omer Ajaz 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.

The ceremony was attended by senior government officials, the acting governor of the State Bank of Pakistan, executives from the banking and financial sector, and representatives of the Kuwaiti mission.

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