Advertisement
Categories: NewsPakistan

Meezan Bank and CashNow Join Hands to Develop Pakistan’s First Digital Islamic Supply Chain Finance Product for Suppliers

Advertisement

Meezan Bank, Pakistan’s leading Islamic bank, has entered into a strategic alliance with CashNow, Pakistan’s pioneering supply chain finance platform, to revolutionize Shariah-compliant supply chain finance. A Memorandum of Understanding (MoU) was signed at Meezan Bank’s Head Office in the presence of senior management from both organizations.

This partnership, the first of its kind in Pakistan, enables CashNow—a cutting-edge fintech platform—to power a fully integrated digital Islamic supply chain finance solution for suppliers, developed in collaboration with Meezan Bank. Through this initiative, Meezan Bank’s customers will gain access to digitally streamlined Shariah-compliant financing.

Under the terms of this MoU, Meezan Bank and CashNow have co-developed a digital Islamic product for finished goods financing. The CashNow platform integrates with Meezan’s core banking system to fully digitize the transaction process, offering the Bank’s customers rapid access to Shariah-approved working capital.

“Meezan Bank is committed to fostering growth across all business sectors, with a strong focus on supporting SMEs & Supply Chain finance,” said Syed Tanveer Hussain – Group Executive Corporate, Commercial & Investment Banking, Meezan Bank.

“We are honored that Meezan Bank has entrusted CashNow with this pivotal Supply Chain Finance initiative,” remarked Saeed Iqbal – Director/Co-Founder, CashNow.

This collaboration is a significant step towards advancing financial and operational excellence in supply chain management. Through this initiative, new standards in supply chain finance are being set, driving innovation, and supporting the country’s economic growth.

Advertisement
News Desk

Recent Posts

Pakistan to Witness Nearly 7 Million Animal Sacrifices on Eid-ul-Adha

Pakistan is expected to witness the sacrifice of more than 6.97 million animals during Eid-ul-Adha…

1 day ago

US Tech Fund commits $10 million to 2 Pakistani IT entrepreneurs

Pakistan's two IT entrepreneurs-- Mehwish Salman Ali and Malik Mudassir—will receive funding of $10 million…

1 day ago

Spotify’s Fresh Finds Celebrates a Decade of Discovering Breakout Talent

Spotify has announced a major milestone for 2025 - 10 years of Fresh Finds, the…

1 day ago

Sindh Govt Bans Qingqi Rickshaws in Karachi, Imposes Heavy Fines Under New Traffic Reforms

Sindh’s Minister for Law and Home Affairs, Ziaul Hassan Lanjar, has approved sweeping changes to…

1 day ago

AKU LEADS with micro-credentials: A flexible programme for academic advancement, upskilling and reskilling

Today, the world is changing rapidly more so than ever before with disruptive technological development…

1 day ago

Aeon & Trisl Secures Emaar’s Top Broker Title for Q1 2025 – 7 Quarters in a Row

Aeon & Trisl Real Estate Group has once again claimed the coveted title of Emaar’s…

1 day ago