KARACHI: Abhi, a Pakistani fintech that provides innovative finance solutions to businesses and their employees, has been selected as one of the Future 100 companies of the United Arab Emirates (UAE), the startup said on Thursday.
Future100, an initiative launched by the UAE’s economy ministry in partnership with its minister of state for government development and future, spotlights the top 100 startups contributing to the nation’s readiness for the future and competitiveness of the UAE’s economic sector.
Abhi started its operations in the UAE in 2022, enabling salaried employees to draw a percentage of their accrued salary before their next payroll through the startup’s mobile app or via SMS.
In September this year, the world’s leading multinational payment card services provider, Visa Inc., partnered with Abhi, along with YellowPepper, a mobile banking services company, to introduce account-to-account payments in the UAE.
“We are incredibly honored to be selected as the Future 100 company in the UAE,” Omair Ansari, Abhi co-founder and CEO, said in a statement. “This achievement underscores our commitment to promoting financial wellness in the region.”
The Future 100 Awards ceremony, held last week, was attended by Abdulla Bin Touq Al Marri, the UAE’s minister of economy, and Ohood bint Khalifa Al Roumi, the country’s minister of state for government development and the future.
“It’s vital to emphasize the vibrant potential and the incredibly supportive environment the UAE has provided us,” Ansari said. “We remain dedicated to financially empowering businesses and individuals.”
Abhi says its embedded finance platform provides instant credit access, aiding businesses, employees, and vendors to bridge payment gaps. Having partnered with over 450 companies, Abhi, which is licensed by both Abu Dhabi General Market and Dubai International Financial Center, says it drives economic growth.
In 2023, it became the first fintech enterprise in the MENAP (Middle East, North Africa, and Pakistan) region to be recognized as a Technology Pioneer by the World Economic Forum, according to the Future 100 website.
Pakistani startups emerged on the global funding radar in 2021, raising around $375 million in a funding rush that was more than the overall funds raised in the previous six years.
Pakistan’s startup cumulative funding for 2023 stood at $34 million during the nine months of the current year 2023 (CY23), a mere 10 percent of the total funds raised in 2022, according to Alpha Beta Core (ABC), a startup funding advisory firm.
Pakistani fintech startup ‘Abhi’ selected among UAE’s Future 100 companies
https://arab.news/5ckfe
Pakistani fintech startup ‘Abhi’ selected among UAE’s Future 100 companies
- Future100 is an initiative by UAE that spotlights top 100 startups contributing to the nation’s readiness for future
- Abhi provides earned wage access, a feature that allows employees to draw part of their salary before their payday
Pakistan sets expectations for Trump-backed Gaza Board of Peace at UN
- The country calls for ceasefire enforcement and reconstruction of the war-ravaged territory
- Pakistani diplomat warns Gaza recovery must proceed without annexation or forced displacement
ISLAMABAD: Pakistan on Wednesday highlighted its expectations of US President Donald Trump’s Board of Peace (BoP) in Gaza, saying it joined the United Nations-backed body alongside other Muslim nations since it expected concrete steps toward a permanent ceasefire, reconstruction of Gaza and a lasting and just peace grounded in the Palestinian right to statehood.
Prime Minister Shehbaz Sharif signed the Gaza Board of Peace charter earlier this week along with other world leaders on the sidelines of the 56th Annual Meeting of the World Economic Forum in Davos.
Pakistan’s Permanent Representative to the UN, Ambassador Asim Iftikhar Ahmad, told an open Security Council debate on the Middle East that the decision was driven by the need to address the “unresolved Palestinian question,” which he described as “the core of the instability” in the region.
“We hope that the BoP under the framework of resolution 2803 will lead to concrete steps toward the implementation of a permanent ceasefire, further scaling up of humanitarian aid, reconstruction of Gaza, and realization of the right to self-determination of the people of
Palestine through a credible, time-bound political process, consistent with international legitimacy and relevant UN resolutions resulting in an independent, sovereign and contiguous state of Palestine based on pre-1967 borders with Al-Quds Al-Sharif as its capital,” Ahmad said while addressing the council.
“That is the ultimate goal supported by the international community,” he added. “Palestinian-led governance and institutional strengthening, with a central role of the Palestinian Authority, are indispensable in this regard.”
Ahmad maintained Pakistan was deeply concerned about the fragile situation in Gaza, pointing to Israel’s continued ceasefire violations that he said were putting civilian lives at risk. He stressed that the ceasefire must be fully respected with a view to a permanent cessation of hostilities.
The Pakistani diplomat said recovery and reconstruction should begin without delay and must proceed without annexation, forced displacement or any alteration of the territorial unity of the Occupied Palestinian Territory.
“The contiguity of Gaza and the West Bank is indispensable for the viability of the Palestinian state,” he said.
Ahmad also called for a credible, irreversible and time-bound political process culminating in the realization of Palestinian statehood in accordance with international legitimacy.
“The international community, particularly this council, bears the responsibility to translate renewed engagement into measurable change on the ground for the betterment of the Palestinian people,” he said, adding that Pakistan was ready to work with “members of the council, regional and international partners, and the United States to advance a just and lasting solution to the Palestinian question, and comprehensive peace in the Middle East.”
