RIDBL and 1LINK Collaborate to Facilitate Fund Transfers

RIDBL and 1LINK Collaborate to Facilitate Fund Transfers

PKRevenue.com – Raqami Islamic Digital Bank Ltd. (RIDBL) has announced a strategic partnership with 1LINK, one of Pakistan’s largest payment service providers, to enhance its digital financial services.

RIDBL stands out as a Shariah-compliant, purely digital bank, opting for a streamlined, mobile-first approach instead of traditional brick-and-mortar branches. This partnership will enable RIDBL customers to benefit from Interbank Funds Transfer (1IBFT) and 1BILL services, with plans to include PayPak in the future.

The collaboration will allow RIDBL customers to transfer funds to over 32 banks and make payments to over 2,500 companies nationwide, significantly expanding their banking capabilities.

Umair Aijaz, CEO of RIDBL, expressed enthusiasm about the partnership, stating, “We are excited to partner with 1LINK and bring cutting-edge digital financial services to our customers. This collaboration represents a significant step forward in our mission to redefine the customer journey and truly empower users of RIDBL’s banking services with efficient and seamless multi-channel payment options.”

Najeeb Agrawalla, CEO of 1LINK, highlighted the strategic nature of the alliance, noting, “The collaboration between 1LINK and Raqami Islamic Digital Bank represents a strategic alliance providing customised financial solutions to a wide range of customer segments. This strategic alliance marks the dawn of a new era of innovation and accessibility in Islamic banking, catering to the unique needs and preferences of our discerning clientele.”

Bashir Khan, COO of 1LINK, added, “This partnership represents a pivotal achievement in the banking sector, enabling Raqami Bank to pioneer innovation and deliver customised products and services to its customer segments utilising 1LINK rails. It further highlights 1LINK’s steadfast dedication to ongoing innovation, positioning it as the preferred partner for financial institutions aiming to elevate their digital solutions.”

As RIDBL embarks on its journey to enhance the banking experience, it remains committed to establishing a fully Shariah-compliant digital bank, with innovation and customer-centricity at its core. This partnership with 1LINK signifies a major step toward achieving that goal, promising a future of enhanced financial services for its customers.