REGULATION · APAC
Pakistan's State Bank grants first digital Shariah-compliant bank license to Raqami
Raqami Islamic Digital Bank Limited became Pakistan's first fully digital, Shariah-compliant retail bank after receiving commercial license from State Bank of Pakistan. Signals regulatory appetite for fintech Islamic banking in South Asia.
WHY IT MATTERS
Opens template for compliant digital Islamic banking across APAC; demonstrates regulator willingness to license digital-only BFSI models; early entrant gains market position.
Source: Finextra · 2026-05-22