Karandaaz Pakistan is the first Fintech and Islamic Banking Company in Pakistan. Moreover, It is also registered under PCRA as a company limited by guarantee. Not only this but Karandaaz Pakistan is also the only Islamic banking and finance platform regulated and licensed by PCRA. Karandaaz Pakistan is a leading Islamic financial institution. Similarly, It has a long track record and a team of skilled professionals and technical experts.
Karandaaz Pakistan With Pakistan Fintech Network (PFN)
This time Karandaaz Pakistan has joined hands with the Pakistan Fintech Network (PFN). This is in a bid to introduce innovative fintech solutions. This initiative will help small business owners and entrepreneurs. Not only will this initiative help them grow but will also boost economy and at the end help the country.
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Pakistan is developing a vibrant financial technology ecosystem, shaped by the national government. With the aim of competing with nearby markets, including India and China. Pakistan is promoting the development of a policy environment. That is conducive to the growth of the Fintech business sector. And attracting Foreign Direct Investment (FDI). Following this progress, the country has set up a foundation of infrastructure. That allows Fintech companies to thrive and enabling foreign investment in Pakistan.
Services Provided by Karandaaz
Karandaaz as a leading Financing Firm. Has promoted the Financial Engineering Industry of Pakistan. They have worked to establish an area conducive to the development. And healthcare of this business zone and include those areas in their assimilation. Karandaaz guides in all parts of businesses, consisting of offering financial services. And regulatory compliance, and are working hard. About the future of the financial engineering industry of Pakistan.
Karandaaz Pakistan powered by two main services, the Payday Loans and Microfinance products. These services will bring a lot of changes. Payday loans are short term loans provided to individuals with a flexible repayment schedule. Furthermore This product aims to provide financial flexibility to business owners. The Microfinance product provides financial solutions to small businesses. The aim of Microfinance product is empowering them to succeed .
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Pakistan Fintech Network established in September 2017, as a not-for-profit organization. It offers a platform to the fintech community to interact and share ideas to further the development of the Pakistan fintech sector. Moreover, its members include over 300 Pakistan-based fintech companies. Hence spanning over a vast majority of the clients.
Pakistan Fintech Network
The Pakistan Fintech Network is the first platform of its kind in Pakistan. It is providing a unified voice to promote the development of the fintech sector in Pakistan.
Pakistan Fintech Network is a strategic partner of the Government of Pakistan. Through the FSRA, PFN is also a key regulator of the financial system of Pakistan. Its mission is to develop and regulate the financial sector of Pakistan.
The Fintech community in Pakistan is growing. According to the World Bank, the country’s gross domestic product per capita is amongst the lowest in the world. However to boost Pakistan’s economy, need to introduce modern technology into the banking system. However With the launch of the Pakistan Fintech Network, the country can leapfrog traditional banking systems. Moreover, this will help to move towards the use of emerging fintech platforms.