Raqami Bank has been granted In-Principle Approval (IPA) by the State Bank of Pakistan as of September 2023.
Innovating Islamic banking in Pakistan with tech-driven, inclusive solutions for the unbanked and underbanked.
Welcome to Raqami Islamic Digital Bank Limited, Pakistan’s first fully Shariahcompliant, digital bank!
At Raqami, we are not just reimagining banking; we’re redefining it with inclusion,integrity and innovation. Our journey began with a profound commitment to Shariah principles, to financial inclusion and to ensuring that every financial solution Raqami offers is not only accessible and innovative but also compliant with Islamic law.
To create an open-API, BaaS platform offering Shariah-compliant financial services to empower unserved and underserved individuals and enterprises
Raqami aims to be the leading Shariah-compliant and customer focused digital bank of Pakistan.
A catalyst for change in Islamic digital banking, deeply grounded in Islamic principles within our organisation and our external offerings
Unrivalled digital leader offering agility and a seamless banking ecosystem
Delivering convenient and easy-to-use financial solutions, that evolve with the aspirations of our customers
Ensuring an environment that values meritocracy, inclusivity, and accessibility
An unwavering commitment to align actions with Shariah-compliant values, fostering a culture where trust, transparency and ethical choices guide every decision
Committed to promoting environmental responsibility, conservation, and sustainability for present and future generation
EnerTech Holding Company (“EnerTech”) is wholly owned subsidiary of the National Technology Enterprises Company (NTEC), which, in turn, is a wholly owned subsidiary of the Kuwait Investment Authority (KIA). The Kuwait Investment Authority is the world's oldest and one of the largest Sovereign Wealth Funds with estimated $980 billion of Assets under Management. Kuwait Investment Authority has been a committed, long-term investor in Pakistan. This commitment is exemplified through significant investments in entities such as Meezan Bank (now the largest Commercial Bank in Pakistan), Pak Kuwait Investment Company (the largest Development Financial Institution in Pakistan), and the Movenpick Hotel in Karachi, among others. EnerTech Holding Company is Mandated to invest in Building platforms in energy, water and Clean-Tech sectors to facilitate technology transfer, capacity building and bring innovation within the Hi-Tech sector. EnerTech is invested within the development of Pakistan with various strategic G2G projects with Federal and Provincial Governments. EnerTech is constructing the largest private water supply infrastructure project in Pakistan in Public Private Partnership mode with the Government of Sindh. The project has earned various global accolades from prestigious institutes such as Euro Money, The Asset and IFN. EnerTech has access to regional and Global Capital due to it being a part of the most prestigious Sovereign Wealth Fund in the world and close relationships with major Banks, Multilaterals and investors involved in the technology, clean energy and sustainable development Space.
Pakistan Kuwait Investment Company (PKIC) was established with an objective to facilitate infrastructural and industrial development in Pakistan through financing commercially viable and technically feasible projects. PKIC benefits from a strong financial foundation that enables it to undertake large-scale, impactful projects. PKIC was incorporated in 1979 as a Development Financial Institution under a Joint Venture Agreement (JVA) between the Governments of Pakistan and Kuwait. PKIC has played a pivotal role in establishing and promoting Islamic Finance in Pakistan by strategically investing in key financial institutions. Notable investments include the founding of the country’s premier Islamic bank, Meezan Bank Limited, where PKIC holds a 30% share, and the creation of Pakistan’s largest Asset Management Company, Al-Meezan Investment Management Limited, also with a 30% stake. Additionally, PKIC was the first Development Finance Institution in Pakistan to launch an Islamic Finance Division, underscoring its dedication to expanding Shariah-compliant financial services. Moreover, PKIC has played a crucial part in the promotion and development of capital markets in Pakistan, especially as a founding shareholder in both the National Clearing Company of Pakistan Limited and Eclear Services Limited. Through these pivotal partnerships, PKIC has contributed to enhancing the efficiency and transparency of the country’s capital markets. Additionally, PKIC has participated in underwriting, providing advisory services, and participating in Initial Public Offerings (IPOs), thereby facilitating access to capital for businesses and supporting the overall growth of the financial sector. This commitment not only strengthens market infrastructure but also fosters investor confidence, ultimately contributing to the economic development of Pakistan.