Pakistan has moved a step closer to launching its first digital retail bank after the Securities and Exchange Commission of Pakistan (SECP) approved a Rs1.5 billion increase in the paid-up capital of HugoBank.<\/p>\n\n\n\n
According to the SECP, HugoBank is being established by a consortium of Pakistani and Singaporean investors, marking a major milestone in the country\u2019s digital banking sector.<\/p>\n\n\n\n
The regulator said the bank\u2019s sponsors will invest a total of $60 million to support the venture.<\/p>\n\n\n\n
Once operational, HugoBank will offer branchless banking services through mobile and online platforms, enabling customers to access financial services without visiting physical bank branches.<\/p>\n\n\n\n
The SECP said the development is expected to promote digital banking in Pakistan by providing consumers with faster, more convenient and cost-effective financial services.<\/p>\n","protected":false},"excerpt":{"rendered":"
Pakistan has moved a step closer to launching its first digital retail bank after the Securities and Exchange Commission of Pakistan (SECP) approved a Rs1.5 billion increase in the paid-up capital of HugoBank. According to the SECP, HugoBank is being established by a consortium of Pakistani and Singaporean investors, marking a major milestone in the […]<\/p>\n","protected":false},"author":1,"featured_media":26267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","inline_featured_image":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"no","rop_publish_now_accounts":{"facebook_3859443944190656_798604363342440":""},"rop_publish_now_history":[{"account":"facebook_3859443944190656_798604363342440","service":"facebook","timestamp":1785935305,"status":"success"}],"rop_publish_now_status":"done","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-26266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pakistan"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/26266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26266"}],"version-history":[{"count":1,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/26266\/revisions"}],"predecessor-version":[{"id":26268,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/posts\/26266\/revisions\/26268"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=\/wp\/v2\/media\/26267"}],"wp:attachment":[{"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakjazbo.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}