Raqami Islamic Digital Bank, backed by the Kuwait Investment Authority (KIA), is set to begin operations in Pakistan next month with an initial investment of $100 million, providing a fresh boost to the country’s financial sector.
The development was shared with the media by Advisor to the Finance Minister Khurram Shahzad, who described the launch as a positive signal for Pakistan’s economic outlook and ongoing reform efforts.
“This investment reflects growing international trust in Pakistan’s economic direction and the government’s reform agenda,” Shahzad said.
Raqami Bank is supported by the Kuwait Investment Authority, the sovereign wealth fund of the State of Kuwait and one of the world’s largest institutional investors. The bank will operate as a fully digital Islamic bank, focusing on technology-driven services to expand financial inclusion and modernize Pakistan’s banking system.
According to Shahzad, the entry of Raqami Islamic Digital Bank highlights rising investor confidence and underscores the strengthening investment relationship between Pakistan and Kuwait, particularly in the financial and digital economy sectors.
He added that such investments are expected to contribute to attracting foreign capital, supporting digital transformation, and enhancing the stability of Pakistan’s financial system.