Habib Bank signs pact with SCO

KARACHI: Habib Bank Limited (HBL) has signed an agreement with Special Communications Organisation (SCO) for interoperable mobile financial services in Azad Jammu and Kashmir (AJ&K) and Gilgit-Baltistan (GB), a statement said on Wednesday.

The collaboration would be a step to help create financial services eco system in the regions, according to HBL.

The contract signing ceremony was attended by Maj Gen Muhammad Shahid Sideeq, DG SCO and chairman HBL, Sultan Ali Allana.

Multiple services would be leveraged upon including mobile wallet app + USSD, SCOM prepaid/ post paid biller, AJ&K and GB Barkyaat Bill and cash in-cash out through agents, to fulfill needs of banked as well as unbanked population of the regions.

Speaking on the occasion, Sideeq termed the venture an initiative of digital transformation of communities. “This initiative will also open the window for ecommerce activities by providing secure payment gateway.” HBL chairman said financial inclusion through strategic partnerships was a key focus area for the bank.