Central bank issues microfinance banking license to Pakistan subsidiary of Egyptian fintech

This undated file photo shows premises of the State Bank of Pakistan. (Shutterstock/File)
Short Url
Updated 05 June 2025
Follow

Central bank issues microfinance banking license to Pakistan subsidiary of Egyptian fintech

  • Halan Microfinance Bank Limited is a subsidiary of MNT-Halan, one of Egypt’s largest microfinance companies
  • MNT-Halan acquired Advans Pakistan Microfinance Bank in 2024, rebranded it as Halan Microfinance Bank

KARACHI: The State Bank of Pakistan said on Thursday it had granted a nationwide microfinance banking license to Halan Microfinance Bank Limited, a subsidiary of MNT-Halan, one of Egypt’s largest microfinance companies.

MNT-Halan acquired Advans Pakistan Microfinance Bank in March 2024 and rebranded it as Halan Microfinance Bank. Halan focuses on digital banking, mobile wallets, cards, and a Buy Now, Pay Later (BNPL) platform.

“The State Bank of Pakistan has granted a Nation-wide microfinance banking license to Halan Microfinance Bank Limited with effect from June 03, 2025,” the bank said in a statement. 

“The MFB has recently been acquired by MNT-Halan, Egypt’s leading fintech company having global presence, offering business and consumer lending, digital payments and e-commerce solutions to the underserved and underbanked.”

Since the acquisition, Halan has served Pakistan’s southern Sindh province with a range of financial services for micro, small, and medium-sized enterprises. The fintech has a network of 19 branches.

Halan Microfinance Bank pledged a $10 million investment in 2025 to drive expansion across Pakistan, reinforcing its presence in the country’s financial sector.

MNT-Halan was founded in 2018 and serves over eight million customers, including over a million borrowers. It holds a significant market share of 25 percent in Egypt. The fintech initially started as a ride-hailing service but has since evolved into a digital financial services provider, offering a range of financial services through their app, including lending, payments, e-commerce, and more.


Pakistan air chief highlights modernization as PAF marks seven years since India aerial clash

Updated 27 February 2026
Follow

Pakistan air chief highlights modernization as PAF marks seven years since India aerial clash

  • Swift Retort was launched in 2019 after India attempted airstrikes following a Kashmir suicide bombing
  • Air chief’s remarks come amid fierce clashes between Pakistan and Afghanistan over cross-border militancy

ISLAMABAD: Pakistan’s air chief said on Friday the country’s air force had undertaken “comprehensive modernization and indigenization” in recent years, as he addressed a ceremony at Air Headquarters to mark seven years since an aerial confrontation with India.

Operation Swift Retort was launched on Feb. 27, 2019, a day after India attempted airstrikes inside Pakistan following a suicide bombing in Indian-administered Kashmir that killed at least 40 Indian paramilitary troops.

Pakistan responded with aerial strikes across the Line of Control and shot down an Indian fighter jet in a subsequent dogfight, capturing one pilot who was later returned in what Islamabad called a gesture of de-escalation.

“PAF has pursued comprehensive modernization and indigenization to transition into a Next Generation Air Force,” Air Chief Marshal Zaheer Ahmed Baber Sidhu said, according to a statement circulated by the military’s media wing, the Inter-Services Public Relations.

He added that the force had recalibrated its operational doctrine and rapidly inducted advanced combat and support capabilities, including indigenously developed unmanned systems, electronic warfare, space and cyber assets, establishing what he described as a “home-grown multi-domain kill chain.”

Sidhu said Pakistan remained committed to peace but would respond decisively to violations of its sovereignty.

“Pakistan is a responsible country which desires peace with honor,” he continued.

The remarks come amid renewed security tensions on Pakistan’s western frontier.

Islamabad earlier this week launched airstrikes inside Afghanistan targeting what it described as hideouts of Tehreek-e-Taliban Pakistan (TTP) and Daesh militants. Afghan authorities condemned the strikes and subsequently launched their own military response that led to fierce clashes between the two sides overnight.

Pakistan has frequently accused Kabul of allowing militant groups to use Afghan territory to carry out cross-border attacks on Pakistani civilians and security forces, an allegation denied by Afghan officials.

Pakistani authorities said earlier in the day small drones launched from the Afghan side were intercepted and brought down by the country’s air defense systems.

Sidhu said the PAF would continue to maintain a vigilant yet responsible defense posture to safeguard national sovereignty.