AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Dubai Islamic Bank Pakistan Limited (DIBPL) has teamed up with Fauree Tech (Pvt.) Ltd. to introduce Pakistan’s first multi-product, fully Shariah-compliant Digital Supply Chain Finance (DSCF) platform. The platform aims to provide rapid and transparent financing solutions adhering to Islamic principles.
The launch event, held in Karachi, saw participation from top executives from both organizations. Dubai Islamic Bank was represented by CEO Muhammad Ali Gulfaraz, Head of Corporate and Investment Banking Mujahid Zuberi, and Chief Digital Officer Zaka Ur Rehman. Fauree Tech’s delegation included CEO Azhar Tasadduq, Director and Chief Business Officer Suhaib Dar, and Head of Projects Ezaaz Waseem.
The collaboration is set to offer a range of Islamic supply chain finance products, including Tijarah Finance and the Export Finance Scheme for indirect exporters. This initiative is designed to provide corporates, suppliers, and distributors with efficient digital financing options that align with both Shariah principles and the regulatory framework set by the State Bank of Pakistan.
Muhammad Ali Gulfaraz, CEO of Dubai Islamic Bank Pakistan, emphasized the importance of this venture, stating that the partnership underscores their commitment to expanding Shariah-compliant financial solutions and supporting economic growth through increased access to financing for SMEs.
Echoing this sentiment, Azhar Tasadduq, CEO of Fauree Tech, described the agreement as a significant step in advancing digital, Shariah-compliant financing in Pakistan. He highlighted the platform’s potential to expand banks’ financing portfolios while providing SMEs and exporters with greater liquidity access.
This initiative promises to bolster Pakistan’s economy by offering innovative Islamic financing solutions to SMEs, exporters, and suppliers.