24-07-2025
- Business
- Business Recorder
FBL and Fauree launch Islamic digital supply chain platform
KARACHI: Faysal Bank Limited (FBL), one of Pakistan's leading Islamic banks, has taken a groundbreaking step toward digital transformation in Islamic finance. In collaboration with fintech innovator Fauree, FBL has signed a Memorandum of Understanding (MoU) to develop and deploy a comprehensive Islamic Digital Supply Chain Finance (SCF) and Agri-Digitization ecosystem.
The MoU was signed by Altaf Hussain Saqib, Head of Commercial Banking Small Business Enterprise (CBSME), Fleet & Agri, Faysal Bank Ltd., and Azhar Tasadduq, Co-Founder and CEO, Fauree.
Commenting on the development, Yousaf Hussain, President & CEO, Faysal Bank said, 'As pioneers in Agri-Digitization within Pakistan's Islamic banking sector, this partnership reinforces our commitment to expand and enhance predictive, paperless Islamic financing solutions across Pakistan. With best-in-class technology embedded into our CBSME & Agri verticals, we are poised to offer innovative, real-time financing for crops, livestock, and supply chains, in line with Shariah principles.'
Speaking on the occasion, Azhar Tasadduq, Co-Founder and CEO of Fauree, commented, 'This collaboration is a remarkable step forward in Pakistan's agricultural economics. The integration of an advanced digital platform with Faysal Bank's Islamic finance expertise is poised to establish Pakistan's first Shariah-compliant digital SCF ecosystem. By integrating a multi-product approach, we aim to digitize entire Agri-value chains and SME supply networks, from farm-level financing to working capital support for exporters.'
Copyright Business Recorder, 2025
