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HBL Islamic Banking Becomes the First to Introduce Islamic Merchant Acquiring in Pakistan

HBL’s Islamic Banking and Edenrobe recently signed a Merchant Establishment Agreement in Karachi. The agreement was signed by Shahzad Babar, Head Governance, Planning & Initiatives, HBL Islamic Banking, and Junaid Dandia, Chief Executive Officer, Edenrobe, a venture of Eden Apparels Pvt Ltd., one of Pakistan’s premier fashion retail brands offering quality clothing and fragrances.

Through this agreement, HBL’s Islamic Banking has achieved a first-mover advantage by launching Islamic Merchant Acquiring for the first time in Pakistan. This means that customers can now make transactions using POS Machines through Visa, Master, UnionPay, and PayPak at the terminals of Islamic Merchants, who will maintain Islamic Banking Accounts with HBL Islamic Banking.

Commenting on this occasion, Muhammad Afaq Khan, Head of Islamic Banking at HBL, stated, “HBL Islamic Banking always strives to provide seamless and innovative solutions to its customers for their convenience. By being the first bank to introduce Islamic Merchant Acquiring in Pakistan, HBL has once again shown that it is a pioneer and market leader in the banking industry.”

 

 

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