The National Incubation Centre announced in a tweet sent on Tuesday that it had signed an MoU with Allied Bank Limited to collaborate and work on opportunities of mutual interest in the Fintech space. Chief Digital Officer Sohail Aziz Awan, Group Head Digital Transformation Muhammad Zaman, and Lead Digital Innovation Ijlal Haider visited the NIC on behalf of ABL to sign the MoU.
Allied Bank retains its status as Pakistan’s fifth largest commercial bank and has in the past made many partnerships of a similar nature. The bank became part of an initiative established by Avanza Premier Payment Services (APPS) in 2019 to revamp online transactions through Payfast, a payment gateway.
The National Incubation Center, a Pakistan-based start-up incubation programme run by the Ministry of Information Technology and Telecommunications under a public-private partnership, is very involved in developing new initiatives to promote the IT industry and support aspiring entrepreneurs.
The 9th cohort of its 1-year incubation programme was recently launched by the NIC, receiving more than 600 applications, 22 of which were chosen to enter the programme after intense competition, including ARKA Innovative, Naisky, and Tutoria.pk.