Latest news with #Gilgit
UAE Moments
3 days ago
- Entertainment
- UAE Moments
It's Confirmed! Hassan Raheem is Married
It's official: Pakistani indie-pop sensation Hasan Raheem—the voice behind hits like Joona and Aisay Kaisay —has tied the knot. The singer took to Instagram to share his Nikkah pictures, captioning them: 'Teri chaiye ni raaye, real hai.' This time, he was making no jokes. The couple's wedding embraced the rich traditions of Gilgit-Baltistan. Hasan made a stylish statement in an off-white shalwar kameez, topped with a traditional shuqa overcoat, paired with a feathered parxin cap, and an embroidered shawl draped elegantly across his shoulder. His bride complemented him beautifully in a light blue gown adorned with golden jewelry and a tasteful updo. The festivities included vibrant mehndi and Valima ceremonies; those viral images included a suited-up Hasan and a radiant bride in red. Fans were initially skeptical. Earlier this year, Hasan pulled off an elaborate prank, a faux wedding teaser for his album DKP's track MEMORIES, that sent his Gen-Z fanbase into a frenzy. This time, however, he clarified: it's real. The joyous pair celebrated surrounded by fellow artists, including Osman Khalid Butt, Shehzad Roy, Momina Mustehsan, Uzair Jaswal, Umair, Taha G, and Ameer Gilani.
Khaleej Times
14-08-2025
- Business
- Khaleej Times
Fintech revolution: Pakistan's branchless banking transforms financial landscape
In the last decade, Pakistan has witnessed a silent financial revolution: the rise of branchless banking. From the streets of Karachi to the highlands of Gilgit, millions of people now carry their banks in their pockets. Mobile wallets, QR payments, and biometric verifications have replaced long queues at bank branches, offering unprecedented convenience, speed, and access. This financial democratisation has been largely driven by the rise of fintech solutions — digital platforms enabling transactions without physical bank branches. With over 80 million mobile wallets and more than 180 million cellular subscribers, Pakistan has leapfrogged traditional banking limitations. Yet, this progress brings with it a complex challenge: how to balance innovation with data privacy, security, and financial inclusivity, especially across rural and urban divides. The branchless banking has been transforming Pakistan's financial landscape, while critically examining its limitations and the safeguards necessary to ensure this transformation remains ethical, equitable, and inclusive. For decades, Pakistan's formal banking system catered to a narrow segment of society. According to the World Bank's 2017 Global Findex, only 21 per cent of Pakistani adults had a bank account. Traditional brick-and-mortar banking failed to penetrate vast swathes of rural Pakistan due to high operational costs, low financial literacy, and geographical inaccessibility. However, over few years, branchless banking has fundamentally changed that equation. Riding on the back of mobile technology, companies like Easypaisa, JazzCash, UBL Omni, and SadaPay have extended financial services to large swathes of previously unbanked populations. Whether it's sending remittances, paying utility bills, purchasing goods & groceries, or receiving government disbursements, branchless platforms allow users to conduct transactions securely via mobile phones, without ever stepping inside a bank. In rural districts where banks are few and often distant, this is not just convenience — it's empowerment. A woman in Tharparkar can now receive her BISP (Benazir Income Support Programme) stipend directly to her mobile wallet. A shopkeeper in Swat can pay his supplier digitally. In urban and rural Pakistan, gig workers, delivery riders, freelancers, and small traders now operate on fintech rails, bypassing the need for formal banking infrastructure. Pakistan's fintech ecosystem has exploded in recent years. Spurred by regulatory encouragement from the State Bank of Pakistan (SBP) and investment from global venture capitalists, dozens of digital banks and wallet services have emerged. Players like TAG, NayaPay, and Finja are building app-based platforms that enable customers to open accounts, manage savings, and transact without ever interacting with a bank teller. Fintech has enabled two vital pillars of inclusion: Nadra's biometric infrastructure, and remote Know Your Customer (KYC) processes have made account opening a matter of minutes. This is a game-changer for populations traditionally excluded due to documentation challenges or geographic isolation. Likewise, micro-loans, savings accounts, insurance, and merchant services are now tailored for low-income segments. Even daily wage labourers and rickshaw drivers can access short-term credit or savings tools with a few taps on their phones. Moreover, fintechs have helped digitize the informal economy. QR codes now hang from thousands of roadside stalls, Pan Shops, and Dhabas, bringing them into the formal fold. While the proliferation of digital banking tools is remarkable, it raises a pressing question: who owns the data? and more importantly: who protects it? Every digital transaction leaves a trail — from purchasing habits to geolocation data, biometric scans, and income levels. In the absence of strong data protection legislation and robust oversight mechanisms, this treasure trove of sensitive information becomes vulnerable to misuse, profiling, and exploitation. Pakistan needs to have stringent Personal Data Protection Law to bridge the legal vacuum that presents critical concerns. Many users, especially those with limited digital literacy, may not fully understand how their data is being collected, used, or shared. Fintech companies like global tech giants may be tempted to monetize user data without proper disclosures. In 2022 alone, several financial institutions in Pakistan reported attempted data breaches. As fintech platforms scale, so does the attack surface for cybercriminals. To safeguard the future of digital finance, Pakistan must prioritise a robust regulatory framework that governs data collection, processing, and sharing — with clear penalties for violations, and user rights to access, rectify, and delete their data. Branchless banking paints an aspirational future — but are rural populations equally benefiting? Digital divide persists across three axes. Rural Pakistan still suffers from poor mobile broadband coverage, especially in Balochistan, parts of Sindh, and Gilgit-Baltistan. While urban youth quickly adapt to apps and QR payments, older rural populations often rely on mobile agents or SMS-based services. Without education, these users are vulnerable to fraud and misinformation. Only about 20 per cent of mobile wallet users are women, reflecting entrenched social and digital barriers. Cultural norms, phone ownership gaps, and lack of financial autonomy inhibit rural women's participation in digital finance. Moreover, the cashless push risks marginalizing communities who still depend on tangible currency for daily transactions. Informal workers, farmers, and artisans often lack smartphones, stable incomes, or documentation — all of which are preconditions for digital banking. To address this, Pakistan must adopt a multi-layered inclusion strategy by providing low-cost smartphones and internet access in underserved areas, expanding the network of mobile money agents to remote villages, offering cash-in/cash-out facilities. It needs to promote apps with regional languages, voice instructions, and women-focused financial products, and partner with NGOs and community leaders to educate users on safe digital practices and rights. The State Bank of Pakistan deserves credit for pioneering branchless banking regulations early on. The Branchless Banking Regulations (2016) and EMI Licensing Framework (2019) enabled a regulatory sandbox for innovation while ensuring consumer safeguards. More recently, the Raast Instant Payment System, developed by SBP, has created an interoperable backbone for real-time, secure, and low-cost digital transactions. By integrating government disbursements, salary payments, and peer-to-peer transfers, Raast is fast becoming a national utility for inclusive finance. To sustain this momentum, the government must do more in three critical areas. The government must enact and enforce data protection laws implemented with an independent data commission to ensure accountability. The government should promote digital public goods as the open-source identity systems, digital credit registries, and interoperability standards can level the playing field for fintechs and benefit end users. Similarly, government should offer tax breaks and grants to fintechs building solutions for marginalized communities — women, persons with disabilities, and the elderly. Branchless banking in Pakistan is not merely a technological shift — it's a paradigm shift in how people experience trust, value, and economic agency. It has already brought millions into the financial fold and is poised to lift many more out of poverty and informality. Yet, this revolution must be handled with care. Fintechs cannot become digital monopolies. Users cannot be treated as data points. And progress cannot come at the cost of privacy, equity, or dignity. The task ahead is to institutionalise safeguards without stifling innovation. To protect the vulnerable while empowering the bold. To ensure that the path to a cashless economy is not only paved with apps and algorithms, but with trust, transparency, and fairness. Pakistan's branchless banking journey has only just begun — and if managed wisely, it may just become a model for the developing world.
Hindustan Times
04-07-2025
- Politics
- Hindustan Times
Delhiwale: A retired man
After attending a panel discussion on 'Artificial Intelligence and Northeast' at the India International Centre, Tassadaque Hussain walks into adjacent Lodhi Garden for an evening stroll. Sitting on a bench, the Dwarka dweller agrees to become a part of our Proust Questionnaire series, in which citizens are nudged to make 'Parisian parlour confessions', all to explore our distinct experiences. Tassadaque Hussain walks into adjacent Lodhi Garden for an evening stroll. (HT) Your favourite occupation. I retired in 2020 as deputy director of the National Archives of India. Having worked there for 32 years, one gets used to seeing old documents. But I vividly remember the thrill when I touched, for the first time, the handwritten 18th century manuscripts on the weekly activities of the East India Company. Or the Gilgit manuscripts from the 5th and 6th centuries… Where would you like to live? I have lived a good part of my life in Delhi, almost 47 years. Studied history in Hindu College… but I miss my native Jorhat in Assam. What do you appreciate the most in your friends? I'm 66, and these days my mind goes back more and more towards the childhood friendships. Your idea of happiness. Walking in Lodhi Garden, and seeing Bada Gumbad and Sheesh Gumbad monuments at different times of the day… by the way, if you consider the plain flooring pattern of Bada Gumbad, and the fact that all its four sides are open, then it becomes clear that it wasn't a tomb but a gateway—that's my reading. Actually, I'm happy being around any Delhi monument. Your heroes in real life. My father, the late Inamul Husain, went far beyond the milieu of his world. My mother, Eliza, for raising four children. And my home tutor Mazifur Rahman, who stirred my interest in academics, helping me make the life-changing transition from Balya Bhavan, a Jorhat school, to Indore's Daly College, one of India's best public schools. Your favourite food. Homemade meals, especially when made by Mita, my wife. She teaches history in Bhagat Singh College. What is your present state of mind? I'm thinking of these birds chirping and flying… I have no idea how far they are intending to travel.
Business Recorder
23-06-2025
- Sport
- Business Recorder
Chitral wins Shandur Polo Festival 2025
PESHAWAR: Chitral polo team on Sunday won the Shandur polo festival 2025 by defeating Gilgit team in the final amid applause by thousands of spectators. The thunder of hooves echoed through Shandur as team Chitral emerged victorious, lifting the trophy in front of a roaring crowd. Chitral A team, once again upholding its tradition, defeated Gilgit A team by 9 goals to 7. However, this year, the Gilgit A team delivered a much-improved performance compared to previous years through aggressive field play. The Chitral defense however successfully repulsed the Gilgit team attacks and saved several goals. The final match started with high speed and Chitral teams outclassed the rival through better coordinated team efforts. This historic annual polo clash was played at 12,000 ft on the world's highest polo ground. The festival started on Friday last. The national flags were hoisted flying high and spectators took keen interest in cultural and food stalls. Copyright Business Recorder, 2025
