Pakistan expands financial services for IT sector and explores capital market cooperation

The Pakistan Software Export Board (PSEB) has signed a Memorandum of Understanding with Meezan Bank Limited to expand financial services for IT-enabled services companies and freelancers. The partnership aims to connect technology exporters with banking products, such as Foreign Currency Accounts, to better manage international payments and export proceeds in compliance with State Bank of Pakistan regulations.

Separately, Pakistani government officials, including Finance Minister Muhammad Aurangzeb, met with Standard Chartered CEO Bill Winters in London to discuss cooperation in capital markets. The discussions focused on tokenization, international Sukuk issuance, and financing options related to Pakistan’s privatization programme. The talks also addressed leveraging Standard Chartered’s investor networks in Europe and the Middle East to support Pakistan’s macroeconomic reforms and funding requirements.