Pakistani air chief, Saudi joint chiefs of staff discuss regional security, defense cooperation

Pakistan's Chief of the Air Staff, Air Chief Marshal Zaheer Ahmed Baber Sidhu (L) poses for a photo with Major General Hamed Bin Rafei Al Amri, Director Joint Chiefs of Staff of the Saudi Armed Forces in Islamabad on October 17, 2022. (Pakistan Air Force)
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Updated 17 October 2022
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Pakistani air chief, Saudi joint chiefs of staff discuss regional security, defense cooperation

  • Al-Amri expressed his grief over devastation caused by recent floods in Pakistan 
  • Praises efforts of PAF personnel in supporting civil administration in relief activities 

ISLAMABAD: The Saudi joint chiefs of staff of the armed forces on Monday called on the Pakistan air chief and discussed regional security as well as bilateral and defense cooperation.

The Saudi military delegation was led by Major General Hamed Bin Rafei Al-Amri, Director Joint Chiefs of Staff of the Saudi Armed Forces, who met Pakistan Air Chief Marshal Zaheer Ahmed Baber Sidhu.

“Al-Amri expressed his grief over the devastation caused by recent floods in Pakistan and offered sincere condolence to the families of the victims. He praised efforts of PAF (Pakistan Air Force) personnel for their support to civil administration in relief activities and rehabilitation process of the flood affectees,” a statement from PAF said.

The dignitary acknowledged PAF’s growing indigenous capability in the aviation industry and agreed to optimize existing ties between the two nations’ air forces, particularly in the training and operational domains.

The air chief shared the “broad contours of PAF’s modernization drive to achieve operational capability in the contemporary warfare in air, space and cyberspace domains as per the PAF’s operational construct and said that Pakistan Air Force is fully focused in acquisition and development of these technologies.”

Pakistan and Saudi Arabia enjoy cordial relations, with over 2.5 million Pakistanis living in the kingdom, which is the largest contributor of remittances to the South Asian nation.


Kuwait-backed digital bank to enter Pakistan with $100 million investment

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Kuwait-backed digital bank to enter Pakistan with $100 million investment

  • Finance adviser Khurram Schehzad describes the development as sign of rising investor confidence
  • It comes as Pakistan seeks foreign investment particularly from Gulf nations to bolster its economy

ISLAMABAD: Pakistan’s Finance Adviser Khurram Shehzad on Friday said Kuwait Investment Authority–backed Raqqami Islamic Digital Bank (RIDB) was set to invest $100 million in the South Asian country by launching operations in February this year.

The bank will be Pakistan’s first fully digital Shariah-compliant bank, according to its website. It offers online financing, savings, and payments to individuals and small-medium enterprises, with a focus on financial inclusion for underserved segments.

The development comes as Pakistan seeks foreign investment, particularly from Gulf nations, to bolster its economy and stabilize its finances. In 2024, the State Bank of Pakistan had issued a no-objection certificate to RIDB.

“Kuwait Investment Authority–backed Raqqami Bank set to launch in Pakistan with a $100 million investment,” Schehzad said in a post on X. “This is a strong vote of confidence in Pakistan’s improving economic outlook and reform momentum.”

Schehzad said Raqqami was backed by the State of Kuwait’s sovereign wealth fund, a development he described as a sign of rising investor confidence in Pakistan.

It also underscores strengthening investment ties between Pakistan and Kuwait, particularly in the financial and digital economy sectors, he added.

Earlier in January, Bank Islami launched Pakistan’s first Shariah-compliant QR payment gateway enabling real-time online payments allowing customers to pay instantly from their bank accounts and enabling merchants to receive payments securely through a smooth checkout experience.