萝莉视频

UAE鈥檚 LuLuFin partners with Pakistani-origin ABHI-Middle East for financial inclusion, remittances

UAE鈥檚 LuLuFin partners with Pakistani-origin ABHI-Middle East for financial inclusion, remittances
The photo shows representatives from Pakistani fintech ABHI, with leading global financial services conglomerate, LuLu Financial Holdings in UAE on May 15, 2025. (Photo courtesy: ABHI)
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Updated 18 May 2025

UAE鈥檚 LuLuFin partners with Pakistani-origin ABHI-Middle East for financial inclusion, remittances

UAE鈥檚 LuLuFin partners with Pakistani-origin ABHI-Middle East for financial inclusion, remittances
  • Last year, ABHI secured $15 million in debt financing to expand UAE operations
  • In 2023, it was selected as one of the Future 100 companies of the UAE

KARACHI: Pakistani-origin ABHI-Middle East, which expanded its operations to the UAE and 萝莉视频 last year, has partnered with leading global financial services conglomerate, LuLu Financial Holdings, to enhance financial inclusion and remittance solutions, Abhi-Middle East said in a statement on Thursday.聽

Founded in 2021, ABHI-Middle East raised $17 million in a Series A funding round led by Speedinvest. Last year, it secured a whopping $15 million in debt financing through a credit facility by Shorooq partners and Amplify Growth Partnership companies to expand its operations in the United Arab Emirates. It also operates in 萝莉视频 and Bangladesh.

The fintech company provides employees an opportunity to withdraw their earned salary any day through its Earned Wage Access facility and other products. In 2023, it was selected as one of the Future 100 companies of the UAE.

鈥淎s part of the partnership, workers in the UAE will be able to access their earned wages instantly and remit funds to their families back home through LuLu Exchange 鈥 without having to wait for payday,鈥 the ABHI-Middle East statement said on the partnership with LuLuFin.

鈥淭hrough the initiative, workers in the UAE will benefit from Earned Wage Access and Send Now, Pay Later services, giving them greater financial flexibility and control over their income.鈥

By offering instant access to earned wages and enabling timely remittances, the partnership addresses a key financial need among expatriate workers, empowering them to support their families with greater ease and security, ABHI said.聽

The fintech firm will provide the operational framework for LuLuFin, enabling customers to access their earned wages before their scheduled payday and allowing employees to send money internationally instantly with the flexibility to defer payment.聽

The service will be rolled out across all major corridors, with the launch for Pakistani customers scheduled for May.

鈥淭his partnership with ABHI represents a bold step toward redefining financial connectivity for global diasporas. By leveraging cutting-edge technology, we aim to create a seamless bridge for expatriates to support their families, setting the stage for a future where financial inclusivity knows no borders,鈥 Thampi Sudarsanan, Chief Executive Officer, LuLu Exchange UAE, said.

Omair Ansari, the Co-Founder & CEO of ABHI-Middle East, said the partnership with LuLu Financial Holdings marked a 鈥渟ignificant step in enabling expatriates to access their hard-earned wages seamlessly and support their families back home without financial strain.鈥

鈥淏y integrating ABHI鈥檚 technology with Lulu鈥檚 extensive market expertise, we are dedicated to promoting financial inclusion and providing underserved communities with greater flexibility and convenience in managing their finances,鈥 Ansari added.聽

In January, Abhi-Middle East announced it had acquired FINCA microfinance bank to improve financial inclusion for millions of Pakistanis across the country.

FINCA Pakistan, part of a global FINCA network, operates in 108 cities across Pakistan, providing state-of-the-art deposit and payment solutions, including micro-credit facilities aimed at improving livelihoods.

In February, ABHI-Middle East launched the ABHI Microfinance Bank in collaboration with TPL Corp.


Pakistan plans virtual assets regulator as crypto council convenes next week

Pakistan plans virtual assets regulator as crypto council convenes next week
Updated 16 sec ago

Pakistan plans virtual assets regulator as crypto council convenes next week

Pakistan plans virtual assets regulator as crypto council convenes next week
  • Pakistan says it aims to shape a future-ready financial infrastructure while ensuring stability and compliance
  • The country has announced this month to allocate 2,000 megawatts (MW) of electricity to power bitcoin mining

KARACHI: Pakistan plans to establish a regulatory body to oversee digital assets, with the proposal set to be discussed at a meeting of the Pakistan Crypto Council next week, the finance minister said on Friday.

The move marks a significant shift for the South Asian nation, which had previously banned cryptocurrency transactions in 2018, citing financial risks and lack of regulation.

The Pakistan Crypto Council, set up in March, was formed to guide policy on blockchain, digital currencies and attract crypto-related investment as the government reconsiders its approach to digital finance.

鈥淭he Pakistan Crypto Council will convene a high-level meeting on Monday, 2nd June 2025, to be chaired by Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue,鈥 the ministry said in an official statement.

鈥淜ey items on the agenda include the development of a robust regulatory framework to govern digital and virtual assets in Pakistan, in alignment with global standards and technological advancements,鈥 it continued. 鈥淎 focal point of discussion will be the groundwork for the establishment of the Pakistan Virtual Assets Regulatory Authority (PVARA) 鈥 a proposed autonomous body to oversee the digital finance and crypto ecosystem in the country.鈥

Earlier this month, Pakistan announced the allocation of 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power bitcoin mining and artificial intelligence (AI) data centers.

Additionally, Bilal Bin Saqib, CEO of the Pakistan Crypto Council, unveiled the country鈥檚 first government-led strategic bitcoin reserve at the Bitcoin 2025 conference in Las Vegas.

The upcoming council meeting aims to lay down the foundation for a secure, transparent and innovation-friendly regulatory environment.

The finance ministry said the upcoming meeting would reflect the government鈥檚 commitment to shaping a future-ready financial infrastructure while ensuring stability and compliance in the emerging digital economy.


Pakistan鈥檚 deputy PM says Islamabad to appoint envoy to Kabul, signaling thaw in ties

Pakistan鈥檚 deputy PM says Islamabad to appoint envoy to Kabul, signaling thaw in ties
Updated 30 May 2025

Pakistan鈥檚 deputy PM says Islamabad to appoint envoy to Kabul, signaling thaw in ties

Pakistan鈥檚 deputy PM says Islamabad to appoint envoy to Kabul, signaling thaw in ties
  • Announcement comes days after trilateral talks in China where both countries agreed to upgrade relations
  • It remains unclear who will be Pakistan鈥檚 new envoy to Afghanistan and when the appointment will take effect

ISLAMABAD: Pakistan鈥檚 Deputy Prime Minister Ishaq Dar said on Friday Islamabad would upgrade diplomatic relations with neighboring Afghanistan by appointing an ambassador in Kabul in a bid to deepen engagement between the two neighboring countries.

The move comes amid long-running tensions, with Pakistan repeatedly accusing the Afghan Taliban administration of 鈥渇acilitating鈥 cross-border attacks by militant groups such as Tehreek-e-Taliban Pakistan (TTP) and the Baloch Liberation Army (BLA).

Kabul has denied the allegations, insisting Pakistan鈥檚 security challenges are its internal issue. Relations have further deteriorated in recent years after Islamabad launched a nationwide deportation drive targeting undocumented foreigners, the majority of whom are Afghan nationals. Pakistani authorities also maintained that some of them were linked to a spate of militant attacks in the country including suicide bombings.

Despite the strains, both countries have sought to improve ties in recent months. Dar led a delegation to Kabul in April and later participated in trilateral talks involving Chinese and Afghan foreign ministers in Beijing earlier this month.

鈥淧akistan-Afghanistan relations are on [a] positive trajectory after my very productive visit to Kabul with Pakistan delegation on 19th April 2025,鈥 he said in a post on social media platform X. 鈥淭o maintain this momentum, I am pleased to announce the decision of the Government of Pakistan to upgrade the level of its Charg茅 d鈥橝ffaires in Kabul to the level of Ambassador.鈥

鈥淚 am confident this step would further contribute towards enhanced engagement, deepen Pak-Afghan cooperation in economic, security, CT [counterterrorism] & trade areas and promote further exchanges between two fraternal countries,鈥 he added.

 

The announcement comes after the recent trilateral meeting in Beijing, where Chinese Foreign Minister Wang Yi said both Pakistan and Afghanistan had 鈥渃learly expressed鈥 a willingness to elevate diplomatic ties, according to an official statement.

At the same meeting, the three countries also agreed to expand cooperation under China鈥檚 Belt and Road Initiative (BRI), including the extension of the China-Pakistan Economic Corridor (CPEC) to Afghanistan.

The BRI 鈥 China鈥檚 multi-trillion-dollar infrastructure plan 鈥 aims to build land and maritime trade routes linking Asia with Africa and Europe. CPEC, considered the flagship of the initiative, includes over $60 billion in Chinese investments in Pakistan鈥檚 energy, transport, and industrial sectors.

It remains unclear who will be Pakistan鈥檚 new envoy to Kabul or when the appointment will take effect.
 


Pakistan criminalizes child marriages in Islamabad despite opposition from Council of Islamic Ideology

Pakistan criminalizes child marriages in Islamabad despite opposition from Council of Islamic Ideology
Updated 24 min 54 sec ago

Pakistan criminalizes child marriages in Islamabad despite opposition from Council of Islamic Ideology

Pakistan criminalizes child marriages in Islamabad despite opposition from Council of Islamic Ideology
  • Under the new law, the minimum age for marriage is set at 18 for both men and women in the federal capital
  • Prison terms of up to seven years have been introduced for those who facilitate or coerce children into early marriages

ISLAMABAD: Pakistani President Asif Ali Zardari on Friday signed into law a bill criminalizing child marriages in the federal capital of Islamabad, despite opposition from a constitutional body that advises the Pakistani government on the compatibility of laws with Islam.

The law criminalizes underage marriages and introduces strict penalties of up to seven years in prison for family members, clerics and marriage registrars who facilitate or coerce children into early marriages. Any sexual relations within a marriage involving a minor, regardless of consent, will be considered statutory rape, according to the law. An adult man who marries a girl under the legal age could face up to three years in prison.

Pakistan鈥檚 National Assembly had unanimously passed the Islamabad Capital Territory Child Marriage Restraint Bill tabled by Pakistan Peoples Party鈥檚 (PPP) Sharmila Faruqui on May 16. Under the new law, the minimum legal age for marriage for both men and women in Islamabad is 18. Previously, it was 16 for girls and 18 for boys.

However, the Council of Islamic Ideology this week declared the said bill 鈥渦n-Islamic,鈥 saying that clauses of the bill, such as fixing the age limit for marriage and declaring marriage below the age of 18 as child abuse and punishable, did not conform with Islamic injunctions.

鈥淭he Islamabad Capital Territory Child Marriage Restraint Bill, 2025 is assented to, as passed by the Parliament,鈥 President Zardari was quoted as saying in a notification issued from his office.

In Pakistan, 29 percent of girls are married by the age of 18 and 4 percent marry before the age of 15, according to Girls Not Brides, a global coalition working to end child marriage. In comparison, five percent of boys marry before 18.

PPP Senator Sherry Rehman thanked the president for signing the bill into law 鈥渄espite all pressure.鈥

鈥淧roud moment for Pakistan,鈥 she said on X. 鈥淭hank you to all the women and men who made this possible after a long journey of twists and turns.鈥

 

 

Pakistan ranks among the top 10 countries globally with the highest absolute number of women who were married or in a union before turning 18.

Girls who marry young are less likely to complete their education and are more vulnerable to domestic violence, abuse and serious health complications.

Pregnancy poses significantly higher risks for child brides, increasing the chances of obstetric fistulas, sexually transmitted infections and even maternal death. Teenagers are far more likely to die from childbirth-related complications than women in their twenties.


Pakistan, India close to completing border troop reduction, senior Pakistani general says

Pakistan, India close to completing border troop reduction, senior Pakistani general says
Updated 30 May 2025

Pakistan, India close to completing border troop reduction, senior Pakistani general says

Pakistan, India close to completing border troop reduction, senior Pakistani general says
  • Both nations attacked military installations in their mainlands this month before the US brokered a ceasefire on May 10
  • General Sahir Shamshad Mirza says latest conflict has lowered the 鈥榯hreshold,鈥 won鈥檛 be restricted to disputed Kashmir

SINGAPORE: Pakistan and India are close to reducing the troop build up along their border to levels before conflict erupted between the nuclear-armed neighbors this month, a top Pakistani military official told Reuters on Friday, although he warned the crisis had increased the risk of escalation in the future.

Both sides used fighter jets, missiles, drones and artillery in four days of clashes, their worst fighting in decades, before a ceasefire was announced.

The spark for the latest fighting between the old enemies was an April 22 attack in Indian-administered Kashmir that killed 26 people, most of them tourists. New Delhi blamed the incident on 鈥渢errorists鈥 backed by Pakistan, a charge denied by Islamabad.

On May 7, India launched missiles at what it said were 鈥渢errorist infrastructure鈥 sites across the border and as Pakistan responded with its own attacks, both countries built up additional forces along the frontier.

General Sahir Shamshad Mirza, Pakistan鈥檚 chairman of the joint chiefs of staff, said the two militaries had started the process of drawing down troop levels.

鈥淲e have almost come back to the pre-22nd April situation... we are approaching that, or we must have approached that by now,鈥 said Mirza, the most senior Pakistani military official to speak publicly since the conflict.

India鈥檚 ministry of defense and the office of the Indian chief of defense staff did not immediately respond to Reuters鈥 requests for comment on the remarks by Mirza.

Mirza, who is in Singapore to attend the Shangri-La Dialogue forum, said while there was no move toward nuclear weapons during this conflict, it was a dangerous situation.

鈥淣othing happened this time,鈥 he said. 鈥淏ut you can鈥檛 rule out any strategic miscalculation at any time, because when the crisis is on, the responses are different.鈥

He also said the risk of escalation in the future had increased since the fighting this time was not limited to the disputed territory of Kashmir, the scenic region in the Himalayas that both nations rule in part but claim in full. The two sides attacked military installations in their mainlands but neither has acknowledged any serious damage.

Indian Prime Minister Narendra Modi warned Pakistan this month that New Delhi would target 鈥渢errorist hideouts鈥 across the border again if there were new attacks on India.

鈥楧ANGEROUS TREND鈥

The two countries have fought three major wars, two of them over Kashmir, and numerous armed skirmishes since both were born out of British colonial India in 1947.

New Delhi blames Pakistan for an insurgency in India-administered part of Kashmir that began in 1989 and has killed tens of thousands. Pakistan says it provides only moral, political and diplomatic support to Kashmiris seeking self-determination.

鈥淭his (conflict) lowers the threshold between two countries who are contiguous nuclear powers...in the future, it will not be restricted to the disputed territory. It would come down to (the) whole of India and (the) whole of Pakistan,鈥 Mirza said. 鈥淭his is a very dangerous trend.鈥

Reuters has reported that the rapid escalation of hostilities ended in part because of behind-the-scenes diplomacy involving the US, India and Pakistan, and the key role played by Washington in brokering peace. India has denied any third-party role in the ceasefire and said that any engagement between India and Pakistan has to be bilateral.

But Mirza warned that international mediation might be difficult in the future because of a lack of crisis management mechanisms between the countries.

鈥淭he time window for the international community to intervene would now be very less, and I would say that damage and destruction may take place even before that time window is exploited by the international community,鈥 he said.

Pakistan was open to dialogue, he added, but beyond a crisis hotline between the directors general of military operations and some hotlines at the tactical level on the border, there was no other communication between the two countries.

India鈥檚 foreign ministry spokesperson said on Thursday 鈥渢alks and terror don鈥檛 go together鈥 in response to a question on the possibility of dialogue with Pakistan.

Mirza said there were no backchannel discussions, or informal talks, to ease tensions. He also said he had no plans to meet General Anil Chauhan, India鈥檚 chief of defense staff, who is also in Singapore for the Shangri-La forum.

鈥淭hese issues can only be resolved by dialogue and consultations, on the table. They cannot be resolved on the battlefield,鈥 Mirza said.


Pakistan鈥檚 Arshad Nadeem, Muhammad Yasir in Asian Athletics Championships javelin finals

Pakistan鈥檚 Arshad Nadeem, Muhammad Yasir in Asian Athletics Championships javelin finals
Updated 30 May 2025

Pakistan鈥檚 Arshad Nadeem, Muhammad Yasir in Asian Athletics Championships javelin finals

Pakistan鈥檚 Arshad Nadeem, Muhammad Yasir in Asian Athletics Championships javelin finals
  • Olympic gold medalist Nadeem and compatriot Yasir qualified with impressive throws of 86.34m and 76.07m respectively
  • Nadeem made history at 2024 Paris Olympics by winning Pakistan鈥檚 first athletics gold with a record throw of 92.97m

ISLAMABAD: Pakistani Olympic medalist Arshad Nadeem and compatriot javelin thrower Muhammad Yasir have qualified for the finals of the 26th Asian Athletics Championships in South Korea.

The championship, running from May 27 till May 31, is featuring over 2,000 athletes from 43 countries, who are competing across 45 track and field events at the Gumi Civic Stadium.

Nadeem advanced to the final with a powerful throw of 86.34 meters on his first and only attempt in the A qualification round, while Yasir secured his spot in the final with a 76.07-meter throw in the B qualification round.

鈥淎lhamdulillah, qualified this morning for the final competition tomorrow afternoon at 1:10pm Pakistan time at the Asian Championships,鈥 Nadeem said on X.

鈥淎s always I would need your support and prayers.鈥

Nadeem tops the 21-member field. He is followed by Sri Lanka鈥檚 Rumesh Tharanga Pathirage with a throw of 83.71 meters and Japan鈥檚 Yuta Sakiyama with a throw of 81.36 meters.

Yasir entered the final ranked 9th.

Nadeem made history at the 2024 Paris Olympics by winning Pakistan鈥檚 first-ever athletics gold with a record-breaking javelin throw of 92.97 meters. His throw not only set a new Olympic and Asian record but also ended Pakistan鈥檚 32-year Olympic medal drought.

He has since become a national hero, inspiring millions with his journey from humble beginnings in smalltown Mian Channu to the top of the Olympic podium.