Pakistan, one of the largest Muslim-majority countries, has yet to launch a fully functional Islamic digital bank, despite the increasing demand for Shariah-compliant banking solutions. While many other nations have successfully developed digital banking systems based on Islamic financial principles, Pakistan is still struggling to establish even a single fully digital Islamic bank.
Countries such as Malaysia, Indonesia, and the UAE have already introduced advanced Islamic digital banking platforms, making significant progress in the global Islamic fintech industry. In contrast, Pakistan remains far behind in this growing sector, missing valuable opportunities to become a leader in the Islamic finance market.
With a large Muslim population actively seeking interest-free and Shariah-compliant banking options, the absence of a fully operational Islamic digital bank highlights a major gap in the country’s financial sector. As digital banking continues to shape the future of global finance, Pakistan must take urgent steps to bridge this gap and compete with leading Islamic fintech markets.
