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BingX Brings Its Five KOL Trading Legends Finalists to Copy Trading
Tech

BingX Brings Its Five KOL Trading Legends Finalists to Copy Trading

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Pakistan, September 15, 2026 — BingX, the world’s leading multi-asset trading platform, today announced that the five finalists of KOL Trading Legends, its futures trading competition for leading crypto content creators, are now available on Copy Trading. Each of the five traded a full session in public during the competition, with every entry, exit and drawdown visible on a live leaderboard, giving users a full view of how each trader operates before choosing to mirror their positions. KOL Trading Legends was designed to show how each creator trades rather than what they say about it. Competitors worked from the same starting capital, over the same hour, in the same market conditions, with every position visible on a public leaderboard. A three-day qualifying round from August 24 to 26 (UTC+8) narrowed the field to five, who met in a 60-minute final streamed live on BingX’s Official X Account on September 8. The competition ran on BingX VST Demo Funds, demo trading tokens with no real-world value, and carried a prize pool of 18,000 USDT. Ashtrix took the title with a return on investment of +212.25%. The full standings: “Copy trading works when you know something real about the person you are following,” said Kevin Lee, Chief Strategy Officer at BingX. “The five competitors traded a full session in public, under identical conditions, with their drawdowns as visible as their winners. As we continue our evolution as a multi-asset trading platform, our aim is to keep making what happens inside a trade visible to the people considering it.” “From blowing my capital multiple times to receiving 10,000 USDT in prize money, I have come a long way,” said Ashtrix. “To everyone who is learning to trade, I want to say one thing: don’t give up.” Copy Trading is a function of the BingX platform: users allocate an amount they choose to a Lead Trader, mirror that trader’s positions automatically, and can stop at any point, with capital at risk as in any live trading. The finalists’ Copy Trading pages are live now: Ashtrix, Joshua Kasi, CPDOTSOL.BlckSquare, Chris NtraderPH and ultm8x. The full final is available to watch here. About BingX Founded in 2018, BingX is the world’s leading multi-asset trading platform, serving more than 40 million users worldwide. From crypto to traditional markets, BingX connects users with a broad range of assets and opportunities across global markets through one unified platform. With perpetual futures, TradFi offerings, spot trading and copy trading, alongside AI-powered innovations, BingX delivers a reliable, intelligent, and responsive trading experience designed to help traders navigate evolving markets and act on opportunities with greater confidence and efficiency. BingX has been the Principal Partner of Chelsea FC since 2024 and became the Official Team Partner of Scuderia Ferrari HP in 2026. For more information, please visit: https://bingx.com/

NBP Digitizes Passport Fee Payments Through Raast P2M QR
Editor pick

NBP Digitizes Passport Fee Payments Through Raast P2M QR

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National Bank of Pakistan (NBP) has enabled digital passport fee collections through Raast Person-to-Merchant (P2M) QR, allowing citizens to pay passport fees conveniently through the mobile applications of participating banks. The initiative is part of NBP’s ongoing digital transformation efforts and supports the Government of Pakistan’s broader Cashless Pakistan agenda to expand digital payments and accelerate the digitization of government collections and receipts. NBP Reviews Raast-Based Passport Fee Solution To review the implementation and explore further collaboration, Ch. Muhammad Ali Randhawa, Director General Immigration & Passports, along with his team, visited NBP Head Office in Karachi. During the visit, he met with Mr. Abdul Wahid Sethi, SEVP & Group Chief/CFO, Financial Control Group; Mr. Faisal Topra, SEVP & Group Chief, Operations Group; and Mr. Adnan Nasir, CDO & Group Chief, Digital Banking Group, along with senior officials from NBP’s Digital Banking and Operations teams. The discussions focused on the performance of the Raast-based cashless passport fee payment solution and potential opportunities to expand digital payment options. PSID-Based Payment Mechanism Also Explored The engagement also examined a PSID-based alternate payment mechanism. The proposed option is aimed at providing greater convenience to citizens while helping ensure continuity of passport fee collections through digital channels. The development reflects the growing use of interoperable payment systems for government-related transactions and supports the wider modernization of public-sector collections. NBP Highlights Digital Transformation Speaking on the occasion, Mr. Abdul Wahid Sethi said digital transformation is an important enabler of accessible, efficient and customer-centric public services. He added that NBP is pleased to support the Government of Pakistan’s digital payments and cashless economy agenda and remains committed to using technology to make financial services simpler and more accessible for citizens. The Director General Immigration & Passports also appreciated NBP’s efforts and collaboration in advancing digital transformation and improving public service delivery. Raast Strengthens Pakistan’s Digital Payments Ecosystem The successful implementation of the initiative further strengthens NBP’s role in enabling interoperable digital payments and modernizing government-related collections. Raast is Pakistan’s instant payment system, designed to facilitate digital payments among individuals, businesses and government entities. The integration of Raast P2M QR for passport fee payments represents another step toward expanding cashless transactions and building a more accessible digital payments ecosystem in Pakistan.

Daraz Pakistan Goes Bigger for Its 9.9 Anniversary Sale with Up to 80% Off, 300+ Authentic Brands and More Rewards
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Daraz Pakistan Goes Bigger for Its 9.9 Anniversary Sale with Up to 80% Off, 300+ Authentic Brands and More Rewards

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From 8 to 15 September, Daraz is turning its anniversary into a week-long celebration for shoppers, with deals across more than 300 authentic brands, exclusive vouchers, Brand Rush Hours, free delivery offers, bank discounts and prizes. [Karachi, September, 2026]: Daraz Pakistan is celebrating another year with the customers, sellers and brands that have been part of its journey, bringing back the 9.9 Anniversary Sale with a week packed with deals, discoveries and rewards. Going live on 8 September at 8 PM and continuing until 15 September, Daraz is turning its anniversary into a celebration for shoppers across Pakistan, with discounts of up to 80%, more than 330 authentic brands on DarazMall, exclusive vouchers, free delivery offers, Brand Rush Hours, bank discounts and opportunities to win exciting prizes. From everyday essentials to wishlist purchases, shoppers can explore Mega Deals and Flash Sales with discounts of up to 80%, Hot Deals with up to 75% off and Top Partner Deals with savings of up to 50%. Category-wide offers will include up to 80% off Electronics, 75% off Lifestyle, 70% off Fashion, 65% off Groceries and 50% off Beauty. Adding to the anniversary excitement, customers can also keep an eye out for special Rs. 9, Rs. 99 and Rs. 999 deals on selected products throughout the campaign, giving shoppers even more reasons to discover something new. Dedicated shopping moments including Brand Days will bring additional offers across popular categories during the week. Customers will also have multiple ways to stack their savings during the anniversary campaign through vouchers, bank offers and campaign discounts. Prime vouchers will offer savings of up to PKR 10,000 at 8 pm on 8th Sep, while Daily Flash Vouchers available from 9 to 11 September between 7 PM and midnight will offer savings of up to PKR 10,000, alongside 14% off across Fashion and Health & Beauty. Shoppers can also access everyday discounts of up to PKR 6,500, along with 12% off Fashion and Health & Beauty and savings of up to PKR 10,000 on Home Appliances. A major highlight of the anniversary campaign will be Brand Rush Hour, taking place on 8, 9, 13 and 15 September. More than 100 participating brands will offer discounts of up to 75%, complemented by vouchers of up to PKR 10,000 and additional 15% off with MCB & Union Pay. Across the broader 9.9 campaign, shoppers will be able to discover offers from more than 330 authentic brands on DarazMall and across the marketplace. Featured names include Samsung, Apple, Dawlance, Haier, TCL, Infinix, Westpoint, Enviro, Audionic, Zero Lifestyle, Anker, Unilever, RB, Abbott, L’Oréal, J&J, Pepsi, Carrefour, Molfix, SAYA, Levi’s, ZELLBURY, Sana Safinaz, Jenpharm, Rivaj, Philips, Saeed Ghani, Durex, Zero Healthcare Pakistan, Sereno Life, Diamond Foam and Boost – Up Your Lifestyle, among others. Shoppers can unlock even more value through exclusive offers from participating banks Union Pay & MCB Upto 15% off and payment partners, including HBL, Soneri Bank, Askari Bank, Standard Chartered and Al Baraka Bank, with additional discounts available throughout the anniversary week. “Our anniversary is a celebration of the customers, sellers and brands that have grown with Daraz over the years. With 9.9, we want to make that celebration rewarding for everyone by bringing together great value, trusted brands and more exciting ways to shop, save and discover,” said Ben Yi, Managing Director, Daraz Pakistan. “From everyday essentials to wishlist purchases, we want customers across Pakistan to find something worth celebrating this 9.9.” The anniversary festivities will go beyond discounts through Shop & Win, giving customers the opportunity to win more than 10 gifts worth PKR 400,000, including a PlayStation 5, ZTR treadmill, kitchen appliances and more, by shopping from participating sellers including Zero Healthcare Pakistan, Shoop, Al-Noor Traders and Vegas Cosmetics. Daraz Coins will add another layer of rewards, with discounts of up to 60% and the chance to win nine gifts worth PKR 50,000, spanning furniture, skincare, makeup and more. Participating brands include Zero Healthcare Pakistan, LivPharm and Dextro. With up to 80% off and more ways to shop, save and win, the Daraz 9.9 Anniversary Sale brings together a week of celebrations for shoppers across Pakistan as Daraz marks another year with its community. About Daraz Group Daraz is the leading e-commerce platform in Pakistan, Bangladesh, Sri Lanka, and Nepal. It empowers sellers and consumers with cutting-edge marketplace technology, targeting a rapidly growing region of 500 million people. By building an integrated infrastructure covering e-commerce, logistics, payment and financial services, the company aims to deliver an immersive, personalized shopping experience and uplift South Asian communities through the power of commerce.For more information, please visit www.daraz.com or follow Daraz on LinkedIn for regular corporate updates. Media Contactambar.ahmed@daraz.pk

QistBazaar Raises PKR 500 Million Through Landmark Sukuk Issuance
Pakistan

QistBazaar Raises PKR 500 Million Through Landmark Sukuk Issuance

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Pakistan’s first unrated, privately placed Sukuk of its kind signals institutional confidence in the company’s growth and opens a new avenue for Shariah-compliant funding Karachi, September 01, 2026: QistBazaar, one of Pakistan’s leading Buy Now, Pay Later (BNPL) and installment-financing platforms, has successfully raised PKR 500 million through a privately placed Sukuk, marking the first tranche in a planned series of Sukuk issuances by the company. The transaction represents Pakistan’s first unrated, privately placed Sukuk of its kind and marks an important milestone for QistBazaar as it expands its access to institutional capital. Dada Partners acted as exclusive financial advisor to QistBazaar and led the capital raise, placing the issue in full with investors sourced through the deep, long-standing institutional relationships of its Founder and Managing Partner, Shazad Dada. The Sukuk was subscribed by the Alfalah Shariah Private Financing Fund-I, managed by Alfalah Asset Management Company (Alfalah AMC), acting as the investment vehicle through which these investors participated in the issuance.  Al Hamd Shariah Advisory Services (Private) Limited were the Shariah advisor certifying the structure, Pak Brunei Investment Company Limited acted as the Investment Agent, and Akhund Forbes the  legal counsel on the transaction. Raising capital through a secured but unrated instrument for QistBazaar reflects investor confidence in the strength of its business model, management team, track record and future growth prospects. The transaction also represents an important step in the company’s evolution from a rapidly growing BNPL platform toward a larger, institutionally funded financial services business. The PKR 500 million raised will be deployed toward expanding QistBazaar’s Shariah-compliant consumer installment financing portfolio, enabling the company to extend affordable financing solutions to more underserved and unbanked consumers across Pakistan. The additional capital will support increased financing origination, expansion of the company’s merchant network, entry into new product categories and a wider geographic footprint. Arif Lakhani, co-Founder QistBazaar, said: “This Sukuk represents much more than a new source of capital for QistBazaar. The confidence shown by corporate and high-net-worth investors validates the business we have built and the opportunity that lies ahead. Our focus has always been on making essential products more accessible through affordable, Shariah-compliant installment solutions. This funding gives us greater capacity to serve more customers, expand our reach and bring more Pakistanis into the formal financial system. This landmark issuance would not have been possible without Dada Partners, our exclusive financial advisor, whose institutional relationships and guidance were instrumental in bringing it to market” Beyond QistBazaar, the transaction demonstrates the potential for high-growth Pakistani businesses to access institutional funding through Shariah-compliant capital-market instruments. It offers an example of how credible growth companies can diversify beyond traditional bank financing while providing corporate and high-net-worth investors with opportunities to participate in Pakistan’s emerging financial services ecosystem. It also reflects the evolving role of Islamic finance in supporting businesses that are addressing gaps in financial access. By channeling institutional capital toward consumer financing, structures such as Sukuk can help connect Pakistan’s capital markets with the financing needs of consumers who have historically remained outside the formal financial system. Co-founded in 2021, by Arif Lakhani and Karim Gilani, QistBazaar, in a very short time has grown into one of Pakistan’s largest BNPL and installment-financing platforms, with 100+ branches  across 18 cities and approximately 800 employees. The company enables customers to purchase essential household and technology products through manageable monthly installments,  focusingon consumers who are generally unable to access  conventional financing channels. QistBazaar is backed by institutional investors including Bank Alfalah, Indus Valley Capital and Gobi Partners. Over the past five years, the company has recorded sustained growth, approximately doubling both revenue and its bottom line year after year. As it enters its next phase of institutional development, QistBazaar also plans to pursue a future listing on the Pakistan Stock Exchange (PSX). This inaugural PKR 500 million issuance is the first in a planned series of Sukuk through which QistBazaar intends to institutionalize its funding base and finance the next phase of its growth. By building a repeatable channel to Shariah-compliant capital, the company aims to scale its financing portfolio, reduce reliance on traditional bank funding, and widen access to affordable consumer finance across Pakistan

BingX Names Five KOL Trading Legends Finalists and Opens Champion Vote
Tech

BingX Names Five KOL Trading Legends Finalists and Opens Champion Vote

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Pakistan, September 1, 2026 — BingX, the world’s leading multi-asset trading platform, today named the five finalists advancing to the grand final of KOL Trading Legends, its futures trading competition for leading crypto content creators, and opened a public voting campaign inviting eligible users to pick the eventual champion. Voting runs until September 7 for a share of up to $1,000,000 in trading vouchers, ahead of the 60-minute live final on September 8. The competition opened with a three-day qualifying round from August 24 to 26 (UTC+8), in which invited creators competed and were ranked by return on investment on a public leaderboard. Only the top five advanced. They now meet in a single 60-minute head-to-head final, streamed in full on  BingX’s Official X Account on September 8. The finalists, in qualifying order: From September 1, 00:00 to September 7, 23:59 (UTC+8), registered BingX users can visit the campaign page and vote for the finalist they believe will take the title. Each participant may back one finalist. Where a participant votes more than once, the first vote stands. Participants who pick the eventual champion receive a $50 position voucher, redeemable with no minimum trading requirement. Participants whose pick does not win receive a $15 position voucher, which unlocks after $5,000 in trading volume. Both vouchers support leverage of up to 10x and are valid for seven days from the date they are issued. The finalist who attracts the most votes receives a $500 trial fund, applied at a 50 per cent offset ratio, subject to a futures balance requirement and valid for seven days. “KOL Trading Legends reflects our belief that the future of trading is built on transparency and community,” said Kevin Lee, Chief Strategy Officer at BingX. “Five leading creators will compete under identical conditions with their results in full public view, and the campaign gives our users a direct stake in the outcome. As we continue our evolution as a multi-asset trading platform, initiatives like this deepen the relationship between BingX, its creators, and the communities they serve.” The 60-minute final will be streamed live on BingX’s Official X Account on September 8, at 20:00 (UTC+8). A limited airdrop will also be distributed during the broadcast with one entry per viewer. About BingX Founded in 2018, BingX is the world’s leading multi-asset trading platform, serving more than 40 million users worldwide. From crypto to traditional markets, BingX connects users with a broad range of assets, markets, and opportunities through one unified trading platform. With perpetual futures, TradFi offerings, spot trading and copy trading, alongside AI-powered products and solutions, BingX delivers a reliable and responsive trading experience designed to help traders navigate evolving markets and act on opportunities with greater confidence and efficiency. BingX has been the Principal Partner of Chelsea FC since 2024 and became the first Official Crypto Exchange Partner of Scuderia Ferrari HP in 2026. For more information, please visit: https://bingx.com/

Indus Motor Company Reports Strong FY2025–26 Performance as Unit Sales Rise 33%
Auto

Indus Motor Company Reports Strong FY2025–26 Performance as Unit Sales Rise 33%

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Indus Motor Company Limited (IMC) has reported a stronger financial performance for the year ended June 30, 2026, supported by higher vehicle sales, increased revenue, improved profitability and continued localisation. The company sold 45,035 units during FY2025–26, marking a 33% increase from the previous year. The improvement reflects a recovery in market demand and continued strength across IMC’s vehicle brands. Revenue And Profitability Improve IMC’s net sales revenue increased to PKR 258.75 billion, compared with PKR 215.14 billion in FY2024–25. Profit before taxation and levy rose to PKR 42.82 billion, up from PKR 37.67 billion a year earlier. The company attributed the improvement to prudent cost management, greater localisation and favourable exchange-rate movements. Net profit after tax increased to PKR 25.51 billion from PKR 23.01 billion, while earnings per share improved to PKR 324.50 from PKR 292.74. Pakistan’s Auto Market Shows Recovery IMC’s performance came against the backdrop of a broader recovery in Pakistan’s automotive market. According to PAMA-reported figures, passenger car and light commercial vehicle sales increased 39% to more than 206,000 units during the year. Improving consumer sentiment, easing financing conditions, new product offerings and measures aimed at rationalising used-vehicle imports contributed to the recovery. However, used vehicles continued to represent around 19% of the PAMA market, keeping the focus on policies that can encourage local manufacturing, deeper localisation and greater competitiveness among domestic producers. Focus On Localisation And Competitiveness IMC Chairman Mohamedali R. Habib said the company’s performance reflected the resilience of its business during a period of economic stabilisation and gradual recovery. He also stressed the importance of a stable and predictable policy environment, particularly as Pakistan’s automotive sector enters a period of policy transition. According to the company, consistent policies will be important for encouraging localisation, innovation, technology transfer and long-term industrial investment. IMC CEO Ali Asghar Jamali said the growth in unit sales and stronger financial results reflected recovering market demand and the continued strength of the company’s brands. The company said it will remain focused on operational efficiency, innovation, localisation and disciplined capital allocation to improve competitiveness and create sustainable value for customers and shareholders. Sustainability Efforts Expand IMC also highlighted progress on its environmental initiatives during FY2025–26. The company said it became the first automotive company in Pakistan to complete the plantation of one million trees nationwide. It also planted 16,000 mangroves along the Sindh coastline. Around 85% of IMC dealerships now operate on solar energy, while more than 13% of its local suppliers have also shifted to solar power. The company further implemented carbon-reduction initiatives at its manufacturing facility to lower its overall carbon footprint. CSR Investment Reaches PKR377 Million IMC continued its community-focused initiatives through its Concern Beyond Cars CSR programme. The company invested PKR377 million in community projects during the year, benefiting approximately 255,761 people. The number of beneficiaries increased 27% compared with the previous year, reflecting an expansion in the company’s social-impact activities. Outlook For Pakistan’s Auto Industry IMC’s FY2025–26 results point to a meaningful recovery in Pakistan’s automotive market after a difficult period for the industry. Higher vehicle sales, improving financing conditions and stronger consumer demand provided support to manufacturers. At the same time, the continued presence of used-vehicle imports and the upcoming transition in automotive policy mean that the industry still faces important challenges. For IMC and other local manufacturers, maintaining growth will depend on demand conditions as well as policy stability, localisation, cost competitiveness, technology transfer and investment. As Pakistan’s automotive sector enters its next phase, these factors will be critical in determining whether the recent recovery can translate into sustainable long-term industrial growth.

PSX Welcomes Tasdeeq as 11th Listing of CY-2026 amid Record Demand
Pakistan

PSX Welcomes Tasdeeq as 11th Listing of CY-2026 amid Record Demand

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Karachi, August 24, 2026: The Gong Ceremony of Tasdeeq Information Services Limited was held today at PSX Trading Hall, marking the listing of South Asia’s first publicly listed credit bureau. The transaction covered 219 million ordinary shares: 69 million placed with pre-IPO investors at PKR 2.35 and 150 million offered through the IPO at a strike price of PKR 3.00, bringing the total transaction size to approximately PKR 612 million. The retail portion was oversubscribed 21.68 times, attracting 11,358 applications and PKR 2.4 billion in total participation. This milestone strengthens Pakistan’s capital markets, boosts investor sentiment, and highlights the growth potential of the country’s data and analytics sector. Mr. Farrukh H. Sabzwari, Managing Director & CEO of PSX, stated: “It is a privilege to welcome Tasdeeq Information Services Limited to the Pakistan Stock Exchange. This Gong Ceremony marks the 11th listing of the calendar year and the 3rd of the fiscal year, underscoring the strong momentum of Pakistan’s capital markets. Tasdeeq’s admission as a licensed credit bureau reflects the growing diversity of businesses choosing the Exchange to raise capital and grow.” He added: “Investor accounts have now crossed 600,000, driven increasingly by Millennials and Gen Z participating through awareness sessions and digital platforms. It is this deepening investor base that powered the strong oversubscription of Tasdeeq’s IPO, highlighting the enduring appetite for innovative companies and the long-term growth of Pakistan’s capital markets.” The Chairman and Board of Tasdeeq Information Services Limited led the celebration, reaffirming the company’s commitment to strengthening Pakistan’s credit information infrastructure and supporting responsible lending across banks, microfinance institutions and digital lenders. Mumtaz Hussain, CEO of Tasdeeq, thanked investors and shared plans to expand the company’s B2C offering, while Mohammed Sohail, CEO of Topline Securities — Consultant to the Issue — noted the exceptional retail response that led to the retail allocation being raised from 25% to 35%, a first in Pakistan’s IPO history.

Riyadh Air’s Sfeer Membership Nears One Million Members With 1.5 Million Points Giveaway
World

Riyadh Air’s Sfeer Membership Nears One Million Members With 1.5 Million Points Giveaway

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Riyadh Air expects its Sfeer Lifestyle Membership to reach one million members this month, less than a year after the programme was launched. To mark the milestone, Riyadh Air has announced a 1.5 million Sfeer Points giveaway, with rewards planned for the millionth member and two existing Founding Members. The announcement highlights the rapid growth of Sfeer and Riyadh Air’s broader strategy of building a lifestyle-focused membership ecosystem around travel, experiences and partnerships. Millionth Sfeer Member To Receive One Million Points The person who becomes the one millionth Sfeer member will receive one million Sfeer Points and will also become the programme’s final Founding Member. The reward is designed to mark the completion of Sfeer’s Founding Member phase while celebrating the growth of its community. Riyadh Air says one million Sfeer Points could potentially unlock more than 120 one-way Economy redemption flights across its expanding network once flight redemption becomes available. Redemption is currently expected later in 2026, subject to network rollout, availability and applicable redemption requirements. Two Existing Founding Members Also To Win Points Riyadh Air is also including members who joined Sfeer during its early stages in the celebration. Two existing Founding Members will be selected at random, with each receiving 250,000 Sfeer Points. This adds another 500,000 points to the giveaway, bringing the total announced reward pool to 1.5 million Sfeer Points. The campaign gives early members an opportunity to participate in the milestone rather than limiting the celebration to the millionth new member. Sfeer Points Designed To Offer Flexible Travel One of the features highlighted by Riyadh Air is that Sfeer Points do not currently expire, with no fixed expiry date under the programme’s current terms and conditions. This gives members greater flexibility to accumulate points and potentially use them as the airline expands its network and introduces additional redemption opportunities. The actual value of the points will depend on destinations, availability and the redemption requirements applicable when the feature becomes operational. Potential Travel Value Of One Million Points Riyadh Air says one million Sfeer Points could provide significant travel opportunities once redemption becomes available. The airline estimates that the points could cover more than 120 one-way Economy flights across its expanding network. For a family of five, Riyadh Air says the points could potentially support two Economy round trips each year for four years, depending on redemption availability. Alternatively, the points could potentially support approximately three Business Class round trips for a group of five friends. These examples are illustrative, however, and actual redemption value will vary according to destinations, availability and programme conditions. Sfeer Goes Beyond Traditional Airline Loyalty Sfeer has been positioned by Riyadh Air as a Lifestyle Membership, rather than simply a conventional airline loyalty programme. The concept combines travel with lifestyle benefits, experiences, partnerships and community engagement. The programme is designed around what Riyadh Air describes as a generation in motion, with the aim of connecting members to opportunities both during travel and beyond the traditional airline journey. Growing Network Of Lifestyle Partners Sfeer members already have access to several benefits, including complimentary in-flight Wi-Fi and Best Offer Guaranteed. The programme has also developed partnerships with companies including Hilton, Uber and muvi Cinemas. These partnerships are intended to expand the value of Sfeer beyond airline travel by providing members with additional lifestyle experiences and offers. Riyadh Air says further partnerships and benefits will continue to be introduced as the membership ecosystem grows. Sfeer Prepares For Its Next Growth Phase The expected one-million-member milestone comes as Sfeer prepares to introduce additional features. Future capabilities are expected to allow members to share Sfeer Points with friends and family, subject to the programme’s applicable terms. Riyadh Air also plans to introduce challenges and community-focused features designed to increase engagement among members. Another upcoming feature is Level Points, which will reflect members’ journeys with Sfeer and help them progress toward additional benefits, recognition and experiences. Riyadh Air Seeks To Build A Global Community Kim Hardaker, VP Loyalty and Sustainability at Riyadh Air, described the one-million-member milestone as an important achievement for the programme and its community. She said Sfeer was designed to combine travel, experiences, benefits and partnerships while reflecting the values of generosity and hospitality associated with Saudi Arabia. The company sees the growing membership base as an early indication of interest in a loyalty model that extends beyond conventional airline rewards. The Meaning Behind The Sfeer Name Riyadh Air says the name Sfeer has been inspired by different meanings. In Arabic, it evokes the idea of an ambassador, associated with generosity, hospitality and connection. In English, the name echoes a sphere, representing a world in motion where community and possibilities come together. The concept reflects Riyadh Air’s ambition to build a membership community connecting people with travel, experiences and lifestyle opportunities in Saudi Arabia and international markets. Riyadh Air’s Loyalty Strategy Expands The growth of Sfeer is part of Riyadh Air’s broader effort to establish a distinctive identity as Saudi Arabia’s new national airline. Rather than relying exclusively on traditional frequent-flyer benefits, the carrier is developing a wider ecosystem involving travel, technology, partnerships and lifestyle experiences. As Riyadh Air expands its flight network, the potential value and usefulness of Sfeer Points could also increase, particularly if more destinations and redemption opportunities become available. One Million Members Marks A New Chapter For Sfeer Reaching one million members in less than a year would represent a significant milestone for Sfeer and Riyadh Air. The 1.5 million Sfeer Points giveaway adds a promotional element to the milestone while rewarding both the programme’s newest and earliest members. The millionth member will receive one million points and become the final Founding Member, while two existing Founding Members will each receive 250,000 points. As Riyadh Air expands its network, partnerships and digital features, Sfeer is expected to evolve into a broader lifestyle ecosystem connecting members with travel and everyday experiences. The programme’s earning, redemption, validity, sharing and benefits remain subject to the applicable Sfeer Terms and Conditions, while

IFC Provides $10 Million Loan to ASA Microfinance Bank Pakistan to Expand Access to Finance for Women
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IFC Provides $10 Million Loan to ASA Microfinance Bank Pakistan to Expand Access to Finance for Women

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KARACHI, August 21, 2026 – The International Finance Corporation (IFC), a member of the World Bank Group, has announced an investment of $10 million in ASA Microfinance Bank (Pakistan) Limited (ASA MFB) in the form of a four-year loan aimed at expanding access to finance for women microfinance borrowers, and supporting private sector growth in Pakistan. The loan will be used by ASA MFB to enhance its on-lending toward women entrepreneurs and microbusinesses across Pakistan. IFC’s four-year financing will offer liquidity stability to ASA MFB to serve more clients, as the bank continues to expand and strengthen its operations. IFC’s investment is supported by the International Development Association Private Sector Window (IDA PSW) Blended Finance Facility. It will be processed under IFC’s MSME Finance Platform – Base of the Pyramid Envelope that supports lending by financial institutions to help small businesses in emerging markets. The investment addresses a critical gap in Pakistan’s financial landscape where access to finance remains low with only 27 percent of Pakistani adults having access to a bank account and a large micro, small, and medium enterprise (MSME) finance gap estimated at approximately $57.8 billion, or 20 percent of gross domestic product. Approximately 39 percent of MSMEs are considered credit constrained, and the gender gap in access to finance is particularly pronounced: the share of women with access to a formal account is 30.4 percentage points lower than that of men. Pakistan also ranks last among 148 countries in the World Economic Forum’s Global Gender Gap Report 2025, with a female labor force participation rate of 22.6 percent. Beyond the direct investment, IFC will also provide targeted advisory services to improve the bank’s gender-disaggregated data reporting system and practices so it can better understand and serve the needs of female borrowers over time. “This partnership is about recognizing and supporting women who are already running businesses,” said Naazer Minhaj, President & CEO of ASA Microfinance Bank (Pakistan) Limited. “It will enable us to extend financing to more women across Pakistan, helping them strengthen their businesses and build on what they have already achieved.” “In Pakistan, millions of women run businesses and support their families, yet they remain largely shut out of the formal financial system. This investment in ASA Microfinance Bank is about changing that – putting affordable credit directly into the hands of women entrepreneurs and microbusinesses who have historically been seen as too risky to lend to,” said Momina Aijazuddin, Regional Industry Director, Financial Institutions Group, IFC, “We believe this investment will not only help many households but also demonstrate to the broader market that lending to women is not just the right thing to do, it is good business.”  This investment is part of a broader World Bank Group effort to support Pakistan’s financial sector over the next decade, with a particular focus on closing the gap between men and women in access to financial services. It also supports Pakistan’s own national goals of making banking and credit more accessible to all citizens, especially women. About IFC IFC – a member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2025, IFC committed a record $71.7 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org. About the IDA Private Sector Window The International Development Association’s Private Sector Window (IDA PSW) was launched in 2017 to catalyze private sector investment in the poorest and most fragile countries. Recognizing the key role of the private sector in creating jobs and promoting economic transformation, the window provides a source of co-investment funding and guarantees to de-risk private investments supported by the World Bank Group’s International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). The IDA PSW is an option when there is no commercial solution and the Bank Group’s other tools are insufficient. For more information, visit: http://ida.worldbank.org/psw About ASA Microfinance Bank (Pakistan) Limited ASA Microfinance Bank Pakistan is a leading microfinance player that has been serving underserved communities across Pakistan since 2008. Following the grant of a microfinance banking license in 2023, the bank has expanded its ability to provide inclusive financial services, with a strong focus on women borrowers, helping them strengthen livelihoods, grow businesses, and enhance economic opportunities. Through a nationwide network of more than 400 branches and service centers, ASA Pakistan serves over 800,000 clients across both urban and rural markets. The bank is part of ASA International Group plc (LSE: ASAI), a global microfinance organization headquartered in Amsterdam and operating across Asia and Africa. For more information, visit: www.pakistan.asa-international.com

Daraz Pakistan Launches Licensed E-Pharmacy To Expand Access To Authentic Medicines
Business

Daraz Pakistan Launches Licensed E-Pharmacy To Expand Access To Authentic Medicines

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Daraz Pakistan has launched a licensed e-pharmacy, giving customers a new online channel to purchase authentic over-the-counter (OTC) medicines, vitamins and healthcare essentials. The service was launched in Karachi on August 18, 2026, and is operated through Daraz’s licensed pharmacy facility. The company says medicines are sourced, stored and dispensed in line with applicable regulatory requirements. The launch represents Daraz’s expansion into an essential category while also marking a significant development in Pakistan’s growing digital healthcare ecosystem. More Than 450 Healthcare Products Available At launch, the e-pharmacy offers more than 450 products from over 20 pharmaceutical and healthcare brands. The initial lineup includes products from brands such as Haleon, Getz Pharma, Abbott, AGP, Nature’s Bounty, Route2Health and Searle. The assortment covers DRAP-registered OTC medicines, vitamins, supplements and other healthcare products sourced through authorised channels. Customers can place orders through the Daraz app, with deliveries available across cities currently served by the platform. The company says orders are expected to reach customers within one to three days. Pharmacist-Supervised Online Pharmacy A key feature of the new service is its professional oversight. Daraz says the e-pharmacy is supported by qualified pharmacists, while dedicated processes have been introduced for handling and fulfilling pharmaceutical orders. Medicines are stored securely, carefully packaged and transported through designated delivery channels designed to help maintain product condition during transportation. This approach is particularly important for an online pharmacy because customers expect the same level of authenticity, storage standards and professional oversight associated with conventional pharmacies. Daraz Brings Pharmaceutical Brands Together To support the launch, Daraz Pakistan organised its first national e-pharmacy conference, bringing together pharmaceutical executives, healthcare entrepreneurs, pharmacists, industry representatives and other stakeholders. The conference focused on several issues affecting Pakistan’s digital healthcare sector, including the future of e-pharmacy, innovation, regulatory compliance and the evolving role of pharmacists. The event also included discussions around developing a stronger digital healthcare ecosystem in Pakistan. Mr. Shehryar Memon, Coordinator, Emergency Operations Center for Polio Eradication & Immunization, also attended the conference. Daraz Signs MoUs With 10 Pharmaceutical Partners As part of the initiative, Daraz signed MoUs with 10 leading pharmaceutical partners. The agreements are aimed at strengthening cooperation in areas including medicine authenticity, digital access and responsible fulfilment. Greater collaboration between e-commerce platforms and pharmaceutical companies could help improve consumer confidence in online medicine purchases while creating more structured digital channels for healthcare products. Daraz Emphasises Authenticity And Compliance Daraz Pakistan Managing Director Ben Yi said consumers should be able to access authentic medicines conveniently while retaining the professional safeguards expected from a pharmacy. The company says its e-pharmacy brings together qualified pharmacists, established pharmaceutical brands and Daraz’s logistics infrastructure to create a more dependable online pharmacy experience. The company also stressed that responsible development of the e-pharmacy sector will require continued attention to trust, compliance and consumer access. Digital Healthcare Market Continues To Evolve The launch comes as Pakistan’s consumers increasingly use digital platforms for essential goods and services. Online access to healthcare products could offer greater convenience to customers, particularly those who prefer home delivery or have limited access to established pharmacies in their immediate areas. For pharmaceutical companies, e-commerce platforms can also provide an additional channel for reaching consumers through authorised distribution networks. However, the success of digital pharmacy services will depend heavily on maintaining product authenticity, regulatory compliance, responsible fulfilment and consumer trust. Dedicated Pharmaceutical Fulfilment Processes Unlike ordinary e-commerce products, medicines require careful handling throughout the fulfilment process. Daraz says its e-pharmacy uses dedicated procedures for pharmaceutical products, including secure storage and careful packaging. The products are then transported through delivery channels intended to protect their condition until they reach customers. Such processes could become increasingly important as Daraz expands its healthcare assortment and handles a larger volume of pharmaceutical orders. Daraz Plans To Expand E-Pharmacy Assortment The company plans to increase the range of products available through its e-pharmacy over time. Daraz also intends to deepen its collaboration with pharmaceutical partners as the category develops. The expansion could eventually give consumers access to a broader range of healthcare essentials through a single digital platform. For the pharmaceutical industry, meanwhile, deeper engagement with e-commerce could accelerate the development of digital distribution channels in Pakistan. What Daraz’s E-Pharmacy Means For Pakistan Daraz’s entry into licensed online pharmacy services marks a notable development in Pakistan’s e-commerce and healthcare sectors. With more than 450 initial products, over 20 participating brands and pharmacist-supervised operations, the platform is attempting to address one of the biggest concerns surrounding online medicine purchases: trust. The partnership model with pharmaceutical companies could also help strengthen authenticity and responsible fulfilment. The bigger test will be whether Daraz can maintain high compliance standards as it scales the service, while continuing to provide reliable delivery and expanding access to genuine healthcare products. A New Chapter For Digital Healthcare The launch of Daraz Pakistan’s licensed e-pharmacy highlights how e-commerce is expanding beyond conventional retail into essential services. By combining pharmaceutical partnerships, pharmacist oversight and an established logistics network, Daraz is positioning its e-pharmacy as part of Pakistan’s developing digital healthcare infrastructure. As the service expands, authenticity, compliance, professional supervision and safe fulfilment will remain central to building consumer confidence. If these standards are maintained, online pharmacy services could become an increasingly important part of how Pakistani consumers access everyday healthcare products.

The Boardroom PK delivers trusted business news, analysis, and insights from Pakistan and beyond, keeping readers informed, inspired, and ahead in the evolving world of business and leadership.

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