Karandaaz Pakistan, a development finance firm at the forefront of promoting financial inclusion and driving digital transformation in Pakistan, held the first roundtable session to deliberate on Open Banking with industry stakeholders including senior representatives from regulators, banks, fintech and technology platforms among others. Karandaaz Pakistan recently issued a white paper that explores the advantages of Open Banking and deliberates on its prospects in Pakistan.
The roundtable session held in Karachi on Thursday is the first of a series of activities initiated to gather industry insights and recommendations from stakeholders. Senior leadership from the State Bank of Pakistan, Bank Alfalah Limited, Meezan Bank, Daraz, Haball, Keenu, Tapsys, SadaPay, 1LINK, National Institutional Facilitation Technologies (NIFT), Blinq, Digital Miles, Tasdeeq Pakistan, Allied Bank Limited and Mashreq Bank participated in the Karandaaz roundtable session.
Sharjeel Murtaza, the Director for Digital Financial Services at Karandaaz opened the roundtable session and shared that it was heartening to see the industry and regulator come together to seize the opportunity of Open Banking.
He further stated that for Open Banking to be successful in its truest sense, an absolute consumer centric approach has to be taken and consumer data should be made portable without compromising its security and privacy.
