Prime Minister Shehbaz Sharif on Tuesday highlighted the strong ties between Pakistan and Kuwait. He said both countries share brotherly relations. These relations are set to grow further through trade, investment, and economic cooperation.
The prime minister made the remarks while attending a ceremony in Islamabad. The event marked the issuance of a digital banking licence to Raqami Islamic Digital Bank. The bank is now the third licensed digital retail bank in Pakistan.
Prime Minister Sharif congratulated the bank on this milestone. He said he hoped Raqami would be fully Sharia-compliant. He also said the bank should offer services that promote the growth of Pakistan’s banking sector.
“This development will strengthen economic ties between Pakistan and Kuwait,” he added. He thanked the Kuwaiti leadership for their support to Pakistan in the past.
Raqami Islamic Digital Bank Limited received a restricted banking licence from the State Bank of Pakistan in May 2025. The licence was issued under the Licensing and Regulatory Framework for Digital Banks. This allows Raqami to start pilot operations as a digital retail bank.
The bank is backed by the Pakistan Kuwait Investment Company (Private) Limited, a joint venture of the Pakistani and Kuwaiti governments. It is also supported by Enertech Holding Company KSC, a subsidiary of Kuwait’s sovereign wealth fund, the Kuwait Investment Authority.
