ISLAMABAD: Bank Alfalah, a leading Pakistani commercial bank, on Monday announced it had acquired 9.9 percent equity stake in Dubai-based fintech firm Jingle Pay, underscoring the bank’s commitment to driving digital transformation and fostering financial inclusion in Pakistan and across other markets.
With over 1,000 branches across 200 cities and an international presence in the United Arab Emirates, Bahrain, and Afghanistan, Bank Alfalah offers various products and services to private-sector institutions and governments, and has established itself as a premier digital bank.
Jingle Pay, on the other hand, has redefined the fintech space with its proprietary AI-powered tech stack already processing over 2 million transactions and facilitating over $1 billion in international money transfers in 2024, saving customers over $6 million in fees. It was recently awarded the top global fintech for remittances into Pakistan.
Bank Alfalah said its equity investment and appointment to Jingle Pay’s board signal a robust partnership aimed at driving growth and innovation, and the collaboration leverages its extensive infrastructure to amplify Jingle Pay’s impact on cross-border payments and digital banking, advancing its ambitious vision for the Middle East and North Africa and Afghanistan and Pakistan (MENAP) region.
“This acquisition is a milestone in our journey to lead the digital banking revolution,” said Farooq A. Khan, Bank Alfalah’s group head for corporate, investment banking and international business.
“By combining Jingle Pay’s innovative platform with Bank Alfalah’s resources, we aim to redefine cross-border financial services and deliver exceptional value to millions of users.”
Pakistan, with a population of 240 million, is home to one of the world’s largest unbanked populations. Only 60 percent of its 137 million adult population, or 83 million adults, have a bank account, according to central bank estimates.
Jingle Pay plans to launch its digital banking services in Pakistan in the first quarter of 2025 as a branchless banking mobile app targeting to bring seamless and inclusive financial services to the country’s unbanked population.
The partnership aims to create synergies in cross-border payments strengthened by shareholder MoneyGram.
“Partnering with Bank Alfalah empowers us to scale our vision of inclusive finance,” Jingle Pay Chief Executive Officer Amir Fardghassemi was quoted as saying by Bank Alfalah.
“Together, we aim to enrich the digital economy and create transformative cross-border financial solutions.”
Pakistan’s Bank Alfalah acquires nearly 10 percent stake in UAE fintech Jingle Pay
https://arab.news/5jg2u
Pakistan’s Bank Alfalah acquires nearly 10 percent stake in UAE fintech Jingle Pay
- Jingle Pay plans to launch its digital banking services in Pakistan in the first quarter of 2025 as a branchless banking mobile app
- Only 60 percent of Pakistan’s 137 million adult population, or 83 million adults, have a bank account, according to central bank estimates
Pakistan says 41 suspected militants killed in operations in restive Balochistan province
- Military says intelligence-based raids carried out in Harnai and Panjgur districts
- Islamabad repeats claim militants backed by New Delhi, an allegation India denies
ISLAMABAD: Pakistani security forces killed 41 suspected militants in two separate intelligence-based operations in the southwestern province of Balochistan, the military said on Thursday, alleging the fighters were linked to India.
The operations were carried out in the districts of Harnai and Panjgur in Balochistan, Pakistan’s largest but least developed province and home to a long running separatist insurgency that frequently targets security personnel, government infrastructure and non-local residents.
“On 29 January 2026, 41 terrorists belonging to Indian proxy, Fitna al Khwarij and Fitna al Hindustan, were killed in two separate operations in Balochistan,” the military’s media wing, Inter-Services Public Relations (ISPR), said in a statement.
According to the ISPR, 30 militants were killed in Harnai district following a “heavy exchange of fire,” during which security forces also destroyed a cache of recovered weapons and explosives.
In a separate intelligence-based operation in Panjgur district, the military said 11 additional suspected militants were killed after security forces raided a hideout.
“Besides weapons and ammunition, looted money from bank robbery in Panjgur on 15 December 2025 were also recovered from the killed terrorists,” the statement said.
“The terrorists were involved in numerous terrorist activities in the past.”
Pakistan’s military and government frequently use the terms “Fitna al Khwarij” and “Fitna al Hindustan” to describe militant groups it associates with the Pakistani Taliban and alleged Indian support.
The ISPR said follow-up “sanitization operations” were underway to eliminate any remaining militants in the area, describing them as “Indian-sponsored terrorists.”
Islamabad has repeatedly accused India of backing separatist groups in Balochistan to destabilize Pakistan, an allegation New Delhi denies.
Earlier this month, Pakistan’s counterterrorism police said they killed five militants planning attacks on security forces and an attempt to block the Quetta–Sibi highway, a key transport route. On Jan. 25, the military also reported killing three militants, including a local commander, in an intelligence-based operation in Panjgur.
Balochistan is strategically important due to its vast mineral resources and its role as a transit corridor for the China-Pakistan Economic Corridor (CPEC), a multibillion-dollar infrastructure initiative linking Pakistan with China.
Separatist groups such as the Balochistan Liberation Army (BLA) accuse Islamabad of exploiting the province’s natural resources without fair local benefit, a claim the government rejects.
