Faysal Bank to Offer Shariah Compliant Digital Financial Solutions to Freelancers

 

Faysal Bank Limited (FBL) collaborates with Pakistan Freelancers Association to facilitate the freelancer community by providing Shariah Compliant digital financial solutions and capacity building for freelancers.

The partnership initiated since the inception of the Pakistan Freelancers Association (PAFLA), a non-profit organization founded to empower Pakistani freelancers, covers joint mentorship programs, seminars, webinars, conferences, professional training events, and certification courses on financial literacy, alongside facilitating Freelancers and start-ups to reach out to FBL for their needs of digital financial services.

FBL Head Corporate and Investment Banking, Ali Waqar said “FBL has been at the forefront of digital Pakistan initiative. To support freelancers, we were the first commercial bank in Pakistan to join the Global Network of Payoneer, facilitating freelancers and companies in receiving payments via home remittance channels. Moreover, our recent collation with Punjab Information Technology Board (PITB) is also a testament to the ongoing efforts to support endeavors and activities of mutual interest for the facilitation of freelancers.”

“FBL has launched Burraq Digital Freelancer Account (Islamic), which has opened door to a host of banking services, including consumer finance and related payment services. FBL has actively participated in multiple events organized to support the digital technology, youth empowerment, and freelancing ecosystem,” Aneeq Malik, Head of Consumer Finance and Payment Services, FBL added.

Ibrahim Amin, Co-Founder and Chairman of PAFLA commented “We are honored to have a banking partner like FBL, this collaboration is a key enabler for the Digital Pakistan initiative, enabling digital financial services for the growing gig economy. Through this collaboration, both the organizations would continue to extend their digital services to the masses and therefore contribute to the country’s most extensive digital initiative.”

FBL’s partnership with PAFLA will drive financial inclusion. The market opportunity is significant since Freelancing has witnessed an incredible upward trajectory in Pakistan. Pakistani freelancers globally rank 3rd in software development and technology and generate a throughput of about $1 billion annually through providing freelance services on leading global platforms.