The State Bank of Pakistan (SBP) has granted Hubpay (Private) Limited the green light to initiate pilot operations as an Electronic Money Institution (EMI) in Pakistan. This milestone paves the way for Hubpay Pakistan’s mission to offer secure and accessible digital financial services tailored to individuals and businesses nationwide.
A Trusted Legacy in Digital Finance
A subsidiary of UAE-based Hubpay ADGM, Hubpay Pakistan inherits a strong legacy in international payments and FX solutions. With its AI-powered money transfer platform, Hubpay ADGM has built a trusted reputation across the UAE, facilitating transfers to over 50 countries and amassing over 1.2 million downloads globally.
A Strategic Pilot Phase Ahead
With SBP’s approval, Hubpay Pakistan is set to launch its services through a controlled pilot phase. During this period, a select group of users will experience exclusive financial products under the close supervision of SBP. Following the pilot, Hubpay Pakistan plans a full-scale launch, offering an expanded range of innovative solutions aligned with SBP’s guidance.
Owais Shaikh, CEO of Hubpay Pakistan, expressed his enthusiasm for this significant step: “We’re excited to begin our journey in Pakistan with the State Bank’s support. This pilot is a crucial first step towards empowering individuals and businesses here with reliable digital financial services.”
While access will remain limited during the pilot phase, interested users are encouraged to join the waitlist on Hubpay Pakistan’s official website.
This approval signals SBP’s commitment to advancing digital finance and broadening financial inclusion across Pakistan. Hubpay Pakistan’s entry into the market introduces a new player dedicated to expanding safe and efficient electronic money services.
