Karachi—Dubai Islamic Bank Pakistan Limited (DIBPL) and 1- Link (Guarantee) Limited signed historic agreement for the issuance of PayPak cards in Pakistan. DIBPL is the first Islamic Bank in Pakistan to have signed the agreement with 1-Link and promote PayPak cards in Pakistan.
DIBPL is a wholly-owned subsidiary of Dubai Islamic Bank UAE, world’s first Islamic Bank. 1-Link is a consortium of major banks that own and operate the largest representative interbank network in Pakistan. In line with State Bank of Pakistan (SBP) Vision 2020 to enhance and promote Financial Inclusion, 1LINK (Guarantee) Limited introduced Pakistan’s First Domestic Payment Scheme “PayPak” which is aimed to provide efficient, cost-effective, and robust payments solutions.
DIBPL remains committed to SBP vision to enhance and promote financial inclusion of unbanked population nationwide. PayPak’s strategic objective includes offering Domestic Payment Scheme to provide low cost payment services to every citizen of Pakistan.