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Allied Bank leads the way to become the first bank to go live with NIFT ePay

Web Desk 05:37 PM | 22 Jun, 2020
Allied Bank leads the way to become the first bank to go live with NIFT ePay

LAHORE - In an effort to promote Digital Payments in Pakistan, Allied Bank leads the way to become the first bank to go live with NIFT ePay. National Institutional Facilitation Technologies (NIFT), an existing Payment System Operator/Provider (PSO/PSP) offering nation-wide cheque clearing services, has launched its eCommerce Payment Gateway under SBP’s rules for Payment System Operators and Payment System Providers (PSO/PSP).

NIFT eBay's primary focus is to execute interoperable and secure digital commerce payments for a large number of banking customers in Pakistan. This provides an opportunity for customers to conduct eCommerce transactions directly through their Bank Accounts or Wallets.

‘Allied Bank’ is one of the largest Bank in Pakistan with a branch network comprising of 1380+ branches and a customer base of above 4 million, operating in the Corporate, Retail and Consumer Banking services. Allied Bank has been focused to provide digital financial service to its retail and business customers especially to process their payments digitally.

Earlier NIFT and Allied Bank signed a strategic agreement in January 2020 for enabling digital commerce payments (Mobile / Electronic Commerce Payments) through NIFT’s DFS platform under the brand name “NIFT ePay”. The agreement was signed by Mr Haider Wahab, CEO – NIFT and Mr Sohail Aziz, Chief Digital Banking Group, Allied Bank. The event was also honoured by the presence of the CEO of Allied Bank, Mr Tahir Hassan Qureshi and Mr Tariq Javed Ghumman, Chief Business Services Group, Allied Bank.

Speaking about the launch, Mr Sohail Aziz Awan, Chief Digital Banking – ABL, said, “ABL is continuously re-aligning towards digital transformation by adopting robust technology platforms and expanding outreach to provide innovative and customer-centric products across all customer segments. After introducing self-service branches, digital lockers, co-badged cards in the past & voice-assisted banking recently, this is yet another industry first initiative from ABL which will significantly contribute to expanding digital payments in Pakistan. Partnership with NIFT ePay service is another step to expand the digital payments ecosystem of the Bank.”

Mr Haider Wahab, CEO-NIFT said, “It is a very important milestone for NIFT and the payments industry. It the first time a domestic eCommerce payment gateway has processed an account-based eCommerce transaction in Pakistan. I believe this is history in the making, which would have a very positive impact on the payment landscape in Pakistan. I thank Allied Bank for their support and belief in the NIFT ePay proposition to be the first bank to go live.”

Web Desk
Web Desk

Daily Pakistan Global Web Desk

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 5, 2023 (Sunday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 280.9 284.25
Euro EUR 299 302
UK Pound Sterling GBP 335 338
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 192 194
Bahrain Dinar BHD 712.72 720.72
Canadian Dollar CAD 205 207
China Yuan CNY 39.67 40.07
Danish Krone DKK 39.33 39.73
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 878 887
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.79 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.3

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,300 on Sunday. The price of 10 grams of 24k gold was recorded at Rs176,010.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,300 PKR 2,360
Karachi PKR 205,300 PKR 2,360
Islamabad PKR 205,300 PKR 2,360
Peshawar PKR 205,300 PKR 2,360
Quetta PKR 205,300 PKR 2,360
Sialkot PKR 205,300 PKR 2,360
Attock PKR 205,300 PKR 2,360
Gujranwala PKR 205,300 PKR 2,360
Jehlum PKR 205,300 PKR 2,360
Multan PKR 205,300 PKR 2,360
Bahawalpur PKR 205,300 PKR 2,360
Gujrat PKR 205,300 PKR 2,360
Nawabshah PKR 205,300 PKR 2,360
Chakwal PKR 205,300 PKR 2,360
Hyderabad PKR 205,300 PKR 2,360
Nowshehra PKR 205,300 PKR 2,360
Sargodha PKR 205,300 PKR 2,360
Faisalabad PKR 205,300 PKR 2,360
Mirpur PKR 205,300 PKR 2,360

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