Dubai Islamic Bank Pakistan (DIBP) has signed an agreement with Zing Digital Commerce to deploy branchless banking platform.

Zing Digital Commerce has developed the new comprehensive branchless banking platform in partnership with Chinese company Shanghai F-Road.

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The installation of this platform will facilitate digitalisation and it will enable DIBP to provide banking services to the unbanked sections of the country.

The alliance aims to offer various financial services to the customer’s doorstep at the grass root level to ensure maximum convenience.

Dubai Islamic Bank Pakistan CEO Junaid Ahmed said: “This agreement would trigger a fast paced implementation for digitalisation of banking products.

“With this platform, DIB Pakistan will offer an array of products mainly to the unbanked population and in line with SBP’s strategy for Financial Inclusion.

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“It is also to be highlighted that SBP has provided an enabling framework for the financial industry to tap the huge potential of the unbanked economy which will be a major contributor for economic growth.”

Shanghai F-Road Commercial Services serves more than 1,300 across 24 provinces in China.

Last October, DIBP selected IRIS Omni Channel Payment Platform and Prepaid Cards Management Solution by TPS in a bid to increase digital banking adoption.

These solutions are expected to serve as important components for DIB’s strategy to digitise retail banking.