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Karachi (Muhammad Yasir)

White Paper Summits, a leading events management company, is proud to announce the upcoming 7^TH ISEM (International Solar Energy Meet) Pakistan Solar Exhibition to be held from July 25th to July 27th, 2024, at the Karachi Expo Centre.

This three-day event promises to be a pivotal gathering for professionals, stakeholders, and enthusiasts within the solar energy industry in Pakistan and globally.

Provincial Ministers of Sindh will be inaugurating the event along with Senior Government Officials and Energy Professionals.

The 7^TH ISEM Pakistan Solar Exhibition aims to spotlight Pakistan’s growing prominence in the renewable energy sector, particularly solar power. With increasing global awareness towards sustainable energy solutions, this event becomes a crucial platform for exploring opportunities, fostering collaborations, and advancing discussions on the latest innovations and trends in solar energy.

“We are excited to host the ISEM Pakistan Solar Exhibition and Conference in Karachi,” said Managing Director of White Paper Summits. “Pakistan’s solar energy sector is experiencing rapid growth, and this event provides a unique opportunity for industry leaders, policymakers, and stakeholders to come together, exchange insights, and chart the path towards a sustainable energy future.”

Attendees can expect a comprehensive showcase of solar technologies, products, services, and solutions from leading local and international exhibitors. The exhibition segment will provide a hands-on experience with the latest advancements in solar panels, inverters, energy storage systems, monitoring devices, and more.

Moreover, the conference agenda features a lineup of esteemed speakers and thought leaders sharing their expertise through keynote sessions, panel discussions, and interactive workshops. Topics will span across solar policy frameworks, investment opportunities, technological advancements, project financing, sustainability practices, and market insights tailored to Pakistan’s solar energy landscape.

Participants can also anticipate networking opportunities to connect with industry peers, forge strategic partnerships, and explore business collaborations. The event’s holistic approach aims to empower stakeholders with knowledge, resources, and networks essential for driving sustainable growth and development in Pakistan’s solar energy sector.

ISEM Pakistan Solar Exhibition is open to professionals, businesses, academia, government representatives, investors, and all stakeholders interested in contributing to Pakistan’s renewable energy journey.

Pakistan (Muhammad Yasir)

Ali Takesh has been appointed as the new Managing Director for Philip Morris Pakistan and Afghanistan, effective August 1, 2024. Ali Takesh succeeds Roman Yazbeck, who has led the company since January 2020 and will exit his role on July 31, 2024.

Ali Takesh brings extensive experience from his last role as Managing Director for Saudi Arabia and Kuwait at Philip Morris International (“PMI”), based in Dubai, UAE. With a strong background in driving commercial strategies and managing significant market transitions, Ali Takesh is well-prepared to lead Philip Morris (Pakistan) Limited (“PMPKL”) into its next phase of growth.

Ali Takesh, the incoming Managing Director, shared his comments about joining PMPKL, “I am thrilled to take on this leadership role at PMPKL. The company has a strong foundation, and I am eager to build on the successes achieved under Roman’s leadership. In the coming months and years, we will focus on strengthening our market presence, driving innovation, and deepening our relationships with partners and stakeholders. I look forward to working closely with our dedicated employees, who are our greatest asset, to achieve our ambitious goals.”

Ali Takesh’s tenure at PMI also includes other roles such as Managing Director of Egypt and Vice President of Operations for the EEMA Region, where he was instrumental in executing growth strategies and managing complex regulatory environments. His strategic insights and operational expertise will be invaluable as he navigates the challenges and opportunities ahead.

Lahore (Muhammad Yasir)

Telenor Microfinance Bank (TMB), operator of Pakistan’s leading digital financial services platform easypaisa, has appointed Jahanzeb Khan as President & CEO, effective 24th July 2024.

Jahanzeb is an accomplished executive with over 25 years of global banking experience and expertise in leading organizational transformation. He has demonstrable success in areas such as digital banking, payments, fintech, M&A and business growth across North American and Asian markets. Jahanzeb brings with him a wealth of leadership experience from global blue-chip organizations like JP Morgan Chase & Co., one of the largest global financial services institutions, where he spent twenty years.

Recently, he successfully led FINCA Microfinance Bank as the CEO. He has a proven track record in consistently delivering exceptional results by developing high-performance teams, focusing on value drivers, and executing strategy. This is Jahanzeb’s second stint with TMB. He had earlier joined TMB as Chief Product officer and later as Chief Strategy Officer.

Irfan Wahab Khan, SVP Head of Portfolio Development Telenor Asia and Chairman of the Board, said, “After a thorough and wide-ranging selection process, the Board is delighted to appoint Jahanzeb Khan to lead Telenor Microfinance Bank. Jahanzeb is no stranger to TMB having served in a variety of senior management roles at TMB and his last role as CEO Finca, he also has a solid international background, deep understanding and experience of our business, the industry, and the market in which we operate. He is a strong, dynamic, and value-driven leader with an impressive track record of delivering consistent high-quality performance. The Board warmly welcomes Jahanzeb and is confident that the bank will continue to thrive and lead the digital retail revolution in the country.”

Commenting on his new appointment, Jahanzeb Khan said, “I am thankful to the board and shareholders for providing me the opportunity to lead this prestigious organization and work towards creating a formidable Digital Bank for greater financial inclusion and ease of use in communities across Pakistan. As part of my efforts, I look forward to realizing the bank’s commitment towards digitizing financial services and empowering all of our clients and stakeholders.”

TMB and easypaisa continue to lead Pakistan’s fintech revolution by providing innovative digital financial services to millions of Pakistanis. Since launching easypaisa in 2009 as the country’s first branchless banking service, it has become the most used digital payments platform.

In 2023, TMB received a No Objection Certificate and In-Principle Approval for a Digital Retail Bank license from the State Bank of Pakistan under the Licensing and Regulatory Framework for Digital Banks.

Today, easypaisa boasts 45 million registered accounts and over 15 million monthly active users, with one in four Pakistani adults having an easypaisa account. As TMB transitions to a digital retail banking model, it is poised to redefine access to digital financial services, driving economic empowerment across all segments of Pakistani society.

 

Karachi (Muhammad Yasir)

Commerce Plex, a wholly owned and fully licensed subsidiary of Simpaisa Holdings, is collaborating with Faysal Bank Ltd to seamlessly integrate fintech innovation with banking expertise. This strategic alliance aims to provide increased efficiency and transparency in remittance services. With roots originating in the UK and licensed & regulated as a Foreign Money Services Business (FMSB) by FINTRAC in Canada, Commerce Plex is committed to supporting Pakistan’s remittance landscape by further improving the inflow of USD into Pakistan through government-approved channels.

This strategic partnership between Commerce Plex and Faysal Bank Ltd will pave the way for exceptional service levels in remittance services. By leveraging cutting-edge fintech innovation and banking expertise, this collaboration aims to significantly boost the influx of USD into Pakistan. The enhanced transparency and efficiency will open new corridors for receiving remittances into the country, making it easier for expatriates to send money home.

Yassir Pasha, Co-Founder & CEO of Simpaisa, enthusiastically declared, “This partnership is set to significantly boost the inflow of foreign currency, unlocking a wealth of new opportunities for USD and other foreign exchanges to fuel our nation’s economic growth and development. By championing financial inclusion, we are empowering individuals,

freelancers, influencers and content creators, while also supporting conventional home remittances. Together, we are committed to building a stronger, more prosperous Pakistan, and the excitement is undeniable!”

This synergy marks a significant step forward in our mission to revolutionize the remittance landscape and support the country’s financial ecosystem.

 

Pakistan (Muhammad Yasir)

Engro Fertilizers Limited, one of the leading fertilizer manufacturers of Pakistan, has introduced the Rahbar Helpline to empower farmers by providing dedicated support and complaint management services.

Accessible via the toll-free number 0800 00110, the Engro Rahbar Helpline ensures seamless communication for farm advisory matters, inquiries, feedback, and complaints related to the non-availability of fertilizer, pricing and product issues. This dedicated call center provides a platform for farmers to voice their concerns and suggestions, equipped with an automated complaint management system and an escalation matrix to ensure every complaint is addressed.

Atif Mohammad Ali, Vice President – Commercial at Engro Fertilizers, commented, “Customer centricity is at the core of Engro Fertilizers’ ethos, driving our continuous improvement and innovation. The Engro Rahbar Helpline exemplifies our commitment to enhancing customer satisfaction and service excellence. This initiative will also support the Government’s efforts to ensure the availability of fertilizers at the right prices, thus, contributing to Pakistan’s enhanced food security.” 

Dubai Islamic Bank Pakistan Limited and ZLK Islamic Financial Services partner to enhance Shariah-compliant financial access.

Lahore (Muhammad Yasir) Dubai Islamic Bank Pakistan Limited (DIBPL), a subsidiary of Dubai Islamic Bank, has partnered with ZLK Islamic Financial Services, Pakistan’s first Shariah-compliant brokerage firm. The MoU signing ceremony was held at DIBPL Head Office in Karachi. The MOU was signed by Junaid Ahmed, CEO of DIBPL, and Zahid Latif Khan, Chairman of ZLK Islamic Financial Services, in the presence of Ashfaq Ahmad Khan, COO of ZLK Financial Services, and Naveed Malik, Head of Consumer Banking at DIBPL.

This strategic collaboration is aimed at enhancing access to Shariah-compliant financial products for DIBPL’s wide customer base, including Roshan Digital Account holders and local clients. Customers are set to gain access to brokerage services by investing in a variety of Riba-free financial products such as shares, GoP Ijaras Sukuk, ETFs, and Murabaha Share Financing (MSF). This initiative is a testament to DIBPL and ZLK Islamic Financial Services’ commitment to promoting and expanding ethical and Shariah-compliant financial solutions in Pakistan.

Mr. Junaid Ahmed, CEO, DIBPL, commented: “DIBPL remains committed towards initiating and promoting innovative Islamic banking solutions. This collaboration with ZLK Islamic Financial Services highlights our dedication to expanding access to creative financial products, promoting financial inclusion and prosperity.”

Mr. Naveed Malik, Head of Consumer Banking, DIBPL, added: “Our partnership with ZLK is designed to help customers achieve Halal Munafa (returns) on their investments. At DIBPL, we provide Shariah-compliant investment opportunities, enabling our customers to engage in financial activities that promote both financial inclusion and Shariah-compliant banking services.”

Mr. Zahid Latif Khan, Chairman, ZLK Islamic Financial Services, emphasized the strategic importance of the partnership, stating: “We are excited to partner with DIBPL to enhance our brokerage services and provide clients with seamless access to Shariah-compliant investment opportunities. Together, we will deliver value-added solutions that meet the globally accepted standards of Islamic finance.”

Through this partnership, DIBPL and ZLK Islamic Financial Services aspire to foster a conducive ecosystem for Shariah-compliant finance, contributing to the sustainable growth and development of Pakistan’s Islamic financing sector.

 

Karachi (Muhammad Yasir)

Top representatives from the banking and fintech sectors
along with state regulators gathered to discuss ways and suggest
implementable solutions to digital based financing for supply chains
for small and medium enterprises and the agriculture sectors at the
5th DigiBAP Summit 2024 on Monday at a local hotel. The summit
featured panel discussions and presentations by leading bank
presidents and CEOs as well as senior executives on issues such as
Financing the Future, Digital SME Lending, Strategies for Digital
Supply Chain Financing, and Future of Digital Lending.

 Speaking as chief guest at the 5th DigiBap Summit 2024, Deputy
Governor, State Bank of Pakistan (SBP), Saleem Ullah said that ease in
access to finance for the SME sector is the priority area for the
government and all banks need to create the requisite infrastructure
and systems to extending digital financing solutions for supply chains
of SMEs. He lamented that currently less than 5% commercial funding is
extended to the crucial SME sector. The summit was organized and
hosted by Terrabiz in collaboration with Dukan.

SBP’s 5-year strategic plan calls for doubling the size of credit to
SMEs to Rs. 1,100 billion and increasing the borrowers 150,000 small
businesses. For this we need to accept SMEs as a profitable business
segment. Saleem Ullah asked banks to develop their working plans for
this end and share those plans with SBP. SME along with Agriculture
and IT remain priority sectors and the PBA has made task forces on
this. These sectors require concrete measures on real commercial lines
and not just lip service or subsidies.

 The Deputy Governor also said that banks need to properly leverage
technology to meet targets, reduce bank costs, and increase access. We
have global examples for this including some in Pakistan as well. SBP
has extended a challenge fund to start-ups for SME and DSC financing
and good options had emerged. He stressed the need to improve on
synergies to reduce cash circulation, digital payments, digital
banking and the overall digital banking eco-system. Raast with 37
million digital accounts and Rs. 15 trillion in transactions has been
a game changer in digital banking.

Chairman Pakistan Banks’ Association Zafar Masud, said increasing
digital adoption is dismantling barriers to financial inclusion in
Pakistan, engaging people in the formal financial system, aiding in
the drive of economic growth, and posing an opportunity for Digital
Supply Chain Finance (or DSCF) to streamline and enhance financial
transactions within supply chains and offer substantial benefits to
SMEs.

 He mentioned that the banking regulator mandated banks to develop and
implement DSCF solutions within six months to address the need to
increase SMEs’ access to finance and digitize payments. In this
regard, partnerships between banks, fintechs, and other technology
providers can expedite the rollout of digital SCF offerings, making
them accessible to SMEs relatively quickly. Finance Minister Muhammad
Aurangzeb also mandated the Pakistan Banks’ Association (PBA) to work
with SBP on enhancing financial inclusion in agriculture and SMEs,
particularly in the area of technology and leveraging existing digital
platforms, he added.

Zafar Masud pointed out that Pakistan stands at a unique crossroads
with substantial opportunities and challenges in enhancing digital
supply chain financing and SME growth. A multifaceted approach
combining regulatory support, technological adoption, cybersecurity
hygiene and awareness, and strategic partnerships is essential to
enhance digital supply chain finance and SME growth in Pakistan, he
further said.

Responding to audience queries, Saleem Ullah and Zafar Masud said that
start-ups will be facilitated through a private equity fund. Normally
banks do not have the requisite infrastructure and public money at
commercial banks have to be risk protected. However, banks should also
increase their risk appetite. Saleem Ullah also said that cash
flow-based lending instead of collateral based lending is also being
encouraged. He also stressed on consumer data protection by open and
digital banks.  Zafar Masud said that a slow psychological shift is
coming in the banking sector to create ease of access to credit.

Aamir Aftab, Chief Product Officer at JazzCash, said, “Pakistan is
home to approximately 3 million small, and medium enterprises (SMEs),
and JazzCash aims to digitise its transactions. The platform processes
over 100,000 loans daily, providing a crucial financial tool for
MSMEs, which are the backbone of Pakistan’s economy but have
historically had limited access to formal financial sources,” said
Aamir Aftab. “With policy interventions that incentivize digital
payments, we can accelerate the adoption of digital financial
services. JazzCash’s extensive network allows it to digitise over PKR
100 billion each month, serving a customer base of 44 million.”

Organizer of the summit and CEO Terrabiz, Hamza Wasi Hashmi said the
digitization of the economy is a matter of paramount importance for
the government and the private sector in order to achieve maximum
financial inclusion and documentation of the economy. He further
stated that the digital supply chain finance solution is a
game-changer for Pakistan’s economy.

The summit featured a major panel discussion participated by President
NBP, Rehmat Hasnie; President HBL, Nassir Salim; Deputy CEO Meezan
Bank, Syed Amir Ali; CEO of HBL Microfinance Bank, Muhammad Amir Khan;
and Hamayun Sajjad, CEO Mashreq Bank, on Financing the Future: MSMEs,
Agriculture and Digital Transformation, and discussed issues like
expanding ease of access to financing, state collaboration, and
efforts to enhance innovation and efficiency.

 Monis Rehman of Dukan, the summit partner, also conducted a workshop
on SME financing, co-facilitated by Dr. Imran Usmani, Vice Chairman
Shariah Board of Meezan Bank and Khurram Warraich, Group Head Digital
Lending from Telenor Microfinance Bank.

Other speakers included Atif Malik, COO of JS Bank who also heads the
PBA Task Force on SME Digital Financing Solutions.