Karandaaz Pakistan and Pakistan Fintech Network (PFN) signed an agreement to undertake joint efforts to support fintech ecosystem of Pakistan. Under this agreement, Karandaaz has committed a grant to PFN for operationalizing and running a fintech development program that shall bolster a more conducive environment for fintech industry. PFN is a network of more than 52 members and this partnership will help to engage more players from the fintech ecosystem, strengthen PFN’s capacity as an information and ideas hub, and enable further collaborations between regulators, corporations, consumers, technology vendors, entrepreneurs, academia, donors and investors.

According to an estimate, the digital finance potential of Pakistan stands at about $36 Billion by 2025, with a potential to provide a 7% boost to GDP, create 4 million new jobs, and result in $263 billion new deposits.