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HBL Islamic Banking becomes the first to introduce Islamic Merchant Acquiring in Pakistan

ISLAMABAD: HBL’s Islamic Banking and Edenrobe signed a Merchant Establishment Agreement on 7 July 2021, at Lucky One Mall in Karachi. The agreement was signed by Shahzad Babar, Head Governance, Planning & Initiatives – HBL Islamic Banking and Junaid Dandia, Chief Executive Officer, Edenrobe, a venture of Eden Apparels Pvt Ltd., one of Pakistan’s premier fashion retail brands offering quality clothing and fragrances.

Through this agreement HBL’s Islamic Banking has achieved a first mover advantage by launching Islamic Merchant Acquiring for the first time in Pakistan. This means that customers can now make transactions using POS Machines through Visa, Master, Union Pay and Pay Pak at the terminals of Islamic Merchants, who will maintain Islamic Banking Accounts with HBL Islamic Banking.    

Commenting on this occasion, Muhammad Afaq Khan, Head – Islamic Banking, HBL stated, “HBL Islamic Banking always strives to provide seamless and innovative solutions to its customers for their convenience. By being the first Bank to introduce Islamic Merchant Acquiring in Pakistan, HBL has once again shown that it is a pioneer and market leader in the banking industry.”

Javed Mahmood
Written By

I am an experienced writer, analyst, and author. My exposure in English journalism spans more than 28 years. In the past, I have been working with daily The Muslim (Lahore Bureau), daily Business Recorder (Lahore/Islamabad Bureaus), Daily Times, Islamabad, daily The Nation (Lahore and Karachi). With daily The Nation, I have served as Resident Editor, Karachi. Since 2009, I have been working as a Freelance Writer/Editor for American organizations.

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