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HomeBankingRaqami Islamic Digital Bank in Pakistan partners Codebase Technologies for Digibanc platform

Raqami Islamic Digital Bank in Pakistan partners Codebase Technologies for Digibanc platform

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  • Raqami Islamic Digital Bank in Pakistan has selected Codebase Technologies to power the launch of its Shariah-compliant digital banking services.
  • The bank will utilize Codebase’s Digibanc platform as its new technology stack, including core banking, to overcome challenges posed by legacy technology solutions.
  • Raqami received in-principle approval from the State Bank of Pakistan (SBP) to operate retail financial services, along with four other digital banks.
  • The partnership aims to deliver efficient, tailored, and seamless Shariah-compliant digital finance solutions to a broader audience in Pakistan.
  • The move comes as the SBP reports a significant increase in the number of Internet and mobile banking users in Pakistan, highlighting the growing demand for digital financial services.
  • Codebase Technologies continues to expand its presence across the Middle East and Asia, with Raqami Islamic Digital Bank joining other institutions using its Digibanc platform.

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