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Raqami Islamic Digital Bank Limited has been awarded a restricted banking license by State Bank of Pakistan under the Licensing and Regulatory Framework for Digital Banks to commence Pilot operations as a Digital Retail Bank. The approval marks a defining moment in Raqami’s journey to become Pakistan’s first fully Shariah-compliant, Digital Retail Bank offering a seamless, intuitive, and inclusive banking experience powered by personalized products and services designed to meet customers’ evolving financial needs. The Licensing and Regulatory Framework for Digital Banks of the State Bank of Pakistan has been brought in to encourage innovation, improve financial access for customers, and foster secure and responsible digital banking practices through a phased licensing process, with full Commercial Operations to follow the Pilot phase. In the run up to securing the approval for Pilot, Raqami demonstrated to the State Bank of Pakistan its operational readiness, with its robust technology and information security infrastructure, effective risk management and controls, and compliance with Shariah principles and regulatory standards. The issuance of the restricted Pilot license has set in motion a key phase aimed at validating Raqami's end-to-end systems within a secure and controlled environment. #RaqamiBank #IslamicBanking #DigitalBanking