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Partnerships spanning AI, cloud solutions, healthcare, SME enablement and digital payments aim to accelerate Pakistan’s digital transformation Hangzhou, China, 24 May 2026 – The Government of Pakistan and Alibaba have signed a series of Memoranda of Understanding (MoUs) covering artificial intelligence (AI), cloud solutions, digital skills, healthcare technology, e-commerce, SME development, and digital financial services, marking an important milestone in Pakistan’s ongoing digital transformation. The agreements were signed at Alibaba’s headquarters in Hangzhou, China, witnessed by Prime Minister Shehbaz Sharif and Alibaba Group Chairman Joe Tsai. Pakistani signatories include Ignite National Technology Fund (Ignite), Sky47, and the Small and Medium Enterprises Development Authority (SMEDA). Alibaba signatories include Alibaba Cloud, DAMO Academy, Alibaba.com and Koko Tech. Prime Minister Shehbaz Sharif appreciated the pace with which Alibaba has transformed itself into a globally leading digital entity with its notable contributions in E-Commerce, AI, Fintech and human resource development. He noted that together, Alibaba and government of Pakistan can transform the lives of the people of Pakistan by digital inclusion, youth empowerment, modernization of agriculture sector and digitization of financial sector. “Pakistan is home to extraordinary talent and immense digital potential,” said Joe Tsai, Chairman of Alibaba Group. “We believe AI, cloud technologies and embodied intelligence can play a transformative role in improving healthcare, empowering businesses to tap into global markets through digital exports and supporting long-term economic development.” Advancing AI & Cloud Capabilities Ignite and Alibaba Cloud will collaborate to develop secure, localized AI and cloud solutions for Pakistan, including AI foundation models for Urdu and regional languages designed to serve key sectors such as education, healthcare, and agriculture. The partnership will roll out nationwide AI and cloud skill programs targeting 500,000 individuals, including developers, students, and public sector employees, through trainings and certifications. To further nurture Pakistan’s tech ecosystem, the two parties will co-host a joint AI hackathon for young developers focused on smart agriculture, financial inclusion, and Urdu language technologies. Expanding AI-Powered Healthcare DAMO Academy and Sky47 will deploy AI-enabled healthcare solutions in Pakistan, centered on DAMO Academy’s multi-disease screening technology. This system uses non-contrast CT scans to detect lesions often difficult for the human eye to identify, enabling early screening for cancers including pancreatic and liver cancer. Sky47 plans to roll out the technology across cities such as Islamabad, Lahore, and Karachi. Separately, DAMO Academy and Ignite will build embodied intelligence capacity at Pakistani universities through online courses, workshops, and developer community activities. Empowering SMEs and Digital Commerce Alibaba.com and SMEDA will help Pakistani SMEs expand into global markets. The partnership will provide AI-powered digital trade training to 10,000 businesses using Alibaba.com’s enterprise AI agent Accio Work, enhancing their cross-border capabilities. The initiative will also onboard at least 2,000 SMEs onto the platform through a dedicated “Pakistan Pavilion”, a unified digital gateway showcasing the country’s diverse industries and connecting Pakistani sellers with over 50 million global buyers. Services including Trade Assurance and Verified Supplier certification will help build trust and accelerate export growth. Driving Financial Inclusion Koko Tech, a Daraz Group company, has signed a cooperation agreement with Ignite to introduce and scale a Buy Now, Pay Later (BNPL) solution in Pakistan, operating as a NBFC (Non-banking Finance Company). Koko Tech plans to invest US$ 3 million to expand digital payment services nationwide and create local employment. The initiative supports Ignite’s mission to foster technology innovation and advance Pakistan’s digital economy, contributing to broader goals of financial inclusion and innovation-led growth.

KARACHI: ABHI Microfinance Bank Ltd. has entered into a strategic partnership with CBA, a major venture of EPL (PVT) Limited, in a move aimed at expanding financial accessibility, accelerating digital innovation, and empowering millions of retail merchants across Pakistan. Under the collaboration, ABHI Microfinance Bank will utilize CBA’s extensive digital network to launch a next-generation Super Agent Network along with customized retailer lending solutions. The partnership is designed to address key financial challenges faced by Pakistan’s Micro, Small, and Medium Enterprises (MSMEs), including limited access to liquidity, formal credit, and branchless banking services. According to the statement, the initiative will strengthen financial interoperability by expanding branchless banking services across urban and semi-urban areas through a compliant and technology-driven operational framework. The system will support real-time cash-in and cash-out services, digital transaction routing, and secure biometric account opening for underserved retail communities. The agreement also includes safeguards to ensure operational stability. Both parties retain the right to terminate the partnership in the event of an unresolved material breach following a 30-day cure period, or through a 30-day written notice without cause, provided all outstanding obligations and accounts are properly settled. A key feature of the partnership is the integration of instant digital credit facilities and working capital solutions directly into CBA’s merchant ecosystem. The initiative aims to replace traditional banking hurdles with a streamlined digital financing structure. The platforms will be connected through secure APIs and SDKs, with both organizations jointly responsible for technical integration and system testing to ensure operational reliability across financing cycles. Retailers will be able to apply directly through the digital platform, which will route alternative data sources — including real-time KYC verification and cash-flow histories — to ABHI for credit assessment. Once approved, customers will receive dedicated wallet accounts and immediate short-term financing disbursement. To protect the lending portfolio, the platform partner will provide a corporate guarantee along with a demand promissory note in favor of ABHI. The financing structure will also include automated debit authorities, structured collections mechanisms, continuous fraud monitoring, and strict anti-money laundering (AML) compliance procedures to safeguard the system.

Karachi, 21 May: Pakistan Stock Exchange Limited (PSX) successfully raised Rs76.286 billion for the Ministry of Finance through the 6th Auction of Government of Pakistan Hybrid Sukuk (GHS) held on May 20, 2026, reflecting continued investor appetite for Shariah-compliant government securities. Read More: https://theboardroompk.com/gold-prices-in-pakistan-rise-by-rs5000-per-tola/ Meezan Bank played a leading role in the transaction as Joint Financial Advisor, contributing towards the structuring, development, and successful execution of the Sukuk programme, further reinforcing its position as a key player in Pakistan’s Islamic capital markets landscape. The auction attracted strong participation, with total bids received amounting to Rs262.197 billion in face value, while the total realized value of bids stood at Rs254.593 billion. According to the auction results, the cut-off rate for the one-year fixed rate discounted Sukuk was set at 12.4880 percent, showing a decline of 1.32 basis points. For the 10-year Variable Rental Rate Sukuk, the cut-off rental rate was recorded at 11.8569 percent, representing a spread of 0.4884 percent over the reference rate. The reference rate for the auction was 11.3685 percent. The successful raising of over Rs76 billion through the PSX platform highlights the growing role of the capital market in government debt mobilization, particularly through Islamic finance instruments. It also reflects the increasing depth of Pakistan’s Sukuk market as institutional investors continue to participate in Shariah-compliant avenues for fixed income investment. The Government of Pakistan Hybrid Sukuk programme has become an important instrument for broadening the investor base, supporting Islamic banking liquidity management, and providing the government with an alternative funding channel through the capital market. The successful issuance also reflects the collaborative efforts of the Ministry of Finance, State Bank of Pakistan (SBP), and Pakistan Stock Exchange (PSX) in strengthening the domestic Sukuk market through regular sovereign Islamic issuances and facilitating wider investor participation in Shariah-compliant investment instruments. Market participants said the strong bidding response indicates continued demand for sovereign-backed Islamic instruments, especially at a time when banks, mutual funds, and other institutional investors are actively seeking compliant investment options with government credit exposure.

ISLAMABAD, May 21, 2026: Pakistan and Kenya have reaffirmed their commitment to significantly expanding bilateral economic ties, agreeing to double the volume of bilateral trade over the next five years during the Second Session of the Pakistan-Kenya Joint Trade Committee (JTC) held in Islamabad. Read More: https://theboardroompk.com/state-bank-of-pakistan-sbp-to-issue-rs75-commemorative-coin-to-mark-75th-anniversary-of-the-establishment-of-diplomatic-relations-between-pakistan-and-china/ The session was co-chaired by Mr. Jawad Paul, Secretary, Ministry of Commerce, Islamic Republic of Pakistan, and Ms. Regina A. Ombam, Principal Secretary, State Department for Trade, Republic of Kenya, with participation from representatives of various government departments from both countries. The Joint Trade Committee, a key bilateral platform for strengthening trade relations and addressing outstanding trade matters, reaffirmed the strong importance both countries attach to their economic partnership and future commercial cooperation. The session recorded meaningful progress across a broad range of priority sectors, with both sides agreeing to enhance cooperation in market access, export promotion, customs, investment, animal quarantine, plant protection, sanitary and phytosanitary measures, technical standards, pharmaceuticals, banking, trade dispute resolution, information and communication technology, tourism, and industry.

Karachi, 20th May, 2026: S&P Global and the S&P Global Foundation announced their support for StepForward, a three-year $10 million initiative aimed at equipping the next generation with the skills needed to succeed in an AI-enabled workforce. Launched in December 2025, StepForward supports organizations delivering innovative workforce readiness and AI education programs globally. StepForward works through global and regional collaborators, complemented by skills-based volunteering that channels S&P Global employees’ expertise. Mujeeb Zahur, Managing Director, S&P Global Pakistan, said, “Urdu AI will help provide accessible AI literacy training and facilitate workshops through mobile-friendly courses in Urdu to reach youth across Pakistan to build practical AI, problem-solving and digital skills — serving a global Urdu-speaking community of over 1 million learners.” S&P Global Foundation also collaborated with MIT Solve through the Essential Innovation Challenge to identify six regional nonprofits that will deliver workforce development programs tailored to local market needs. These organizations are receiving funding from the S&P Global Foundation with the goal of scaling AI learning and human-centric skills including Urdu AI in Pakistan. “Pakistan’s next generation deserves to participate in the AI economy — in their own language, on their own terms. This partnership with S&P Global Foundation allows us to reach underserved communities across the country and ensure that no young person is left behind simply because AI education wasn’t available in Urdu,” said, Qaisar Roonjha, Founder, Urdu AI. Generation and Massachusetts Institute of Technology MIT RAISE (Responsible AI for Social Empowerment and Education) will receive grants from the S&P Global Foundation to deliver AI-focused youth development and young adult employment programs across key markets. The UN Youth Office, a United Nations Entity, will participate as a global collaborator supported through an S&P Global corporate-funded contribution. The organization plays a unique role as a global convener and amplifier with direct digital reach to over one million young people. They will focus on a global campaign to elevate awareness of the future-ready skills young people need to thrive in rapidly changing labor markets. The S&P Global Foundation is a separate 501(c)(3) private foundation that conducts and supports charitable activities in furtherance of its mission, with funding and support from S&P Global. Charitable grants made by the S&P Global Foundation are awarded exclusively to eligible nonprofit organizations in accordance with the Foundation’s independent governance and approval processes. Corporate-funded contributions and collaborations are administered directly by S&P Global and may involve public institutions, multilateral organizations, or other mission-aligned entities. S&P Global has long championed AI adoption and upskilling as part of workforce strategy through its EssentialTECH education, ‘AI for Everyone’ employee training, internal tools including Kensho Spark Assist, and a recent strategic partnership to strengthen workforce development and enable skills-based career mobility across the company.