Raqami Bank granted Scheduled status by SBP

MG News | February 10, 2026 at 10:29 AM GMT+05:00

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February 10, 2026 (MLN): The State Bank of Pakistan (SBP) has officially declared Raqami Islamic Digital Bank Limited as a Scheduled Bank following the grant of a Digital Retail Bank (DRB) licence, effective February 6, 2026.

The move is a key milestone for Raqami Islamic Digital Bank, allowing it to operate fully within Pakistan’s regulated banking framework.

It also shows SBP’s broader push to promote digital and Islamic banking, aimed at enhancing financial inclusion and fostering innovation in the sector.

Raqami Islamic Digital Bank plans to invest $100 million over the next five years as it prepares to introduce commercial operations.

The bank aims to serve 1m customers, focusing on SMEs, freelancers, and underserved segments through Shariah-compliant digital banking solutions.

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