Bank Alfalah invests in Qist Bazaar

Bank Alfalah has reinforced its commitment to financial inclusion by increasing its investment in Qist Bazaar, a buy-now-pay-later platform catering to the essential purchases of people as per a press release. As part of the latest funding round, Bank Alfalah has invested Rs55 million as part of Qist Bazaar’s Series A raise of around Rs800m, further solidifying its confidence in Qist Bazaar’s vision and exponential growth.

Additionally, Bank Alfalah has provided Qist Bazaar with Rs460m in debt lines, allowing the start-up to draw funds as needed.

This financial support is designed to strengthen Qist Bazaar’s ongoing expansion and growth objectives, further amplifying its impact on the market.

EFU Life strengthens Takaful footprint

EFU Life Assurance Ltd announces the phased conversion of its individual life branches in Khyber Pakhtunkhwa and Balochistan to Takaful operations, as per a press release.

The initiative reinforces the company’s vision of providing ethical, Shariah-compliant financial solutions, empowering communities, and making Takaful more accessible nationwide.

With a focus on Takaful offerings, the transition aims to empower individuals and families with solutions that prioritise ethical financial planning and security.

By leveraging its branch network and digital platforms, EFU Life aims to continue expanding its outreach to the entire population of Pakistan.

Agriculture mela at Sujawal

The Socio-Cultural Agri Finance Mela took place in the district of Sujawal and was organised by the State Bank in collaboration with Sindh Bank and with the support of the local administration of the Sindh Government, as per a press release.

This event brought together farmers, banking institutions, and community members. Attendees were treated to vibrant cultural performances that celebrated local traditions, creating an atmosphere of joy and community spirit.

The mela also featured exciting giveaways and lucky draws, engaging participants and adding to the festive atmosphere. Deserving farmers were awarded prize money, cheques, and even tractor keys — essential tools that will aid them in their agricultural endeavours.

Pakistan Banking Summit 2025

The Pakistan Banks Association has officially announced the launch of the Pakistan Banking Summit 2025, an industry-led event set to take place on February 24 & 25, 2025, in Karachi, as per a press release.

Organised under the aegis of the Pakistan Banks Association, the summit aims to advance finance and economic discourse in the country. It will feature over 12 prominent international speakers, over 20 local subject matter experts, and convene leaders from over 45 institutions, including conventional, Islamic, digital, and microfinance banks, as well as development finance institutions.

Published in Dawn, The Business and Finance Weekly, February 17th, 2025