Business Desk 
Nov 14, 2024
Meezan Bank has collaborated with CashNow, Pakistan’s pioneering supply chain finance platform, to transform Shariah-compliant supply chain finance. At Meezan Bank’s Head Office, a Memorandum of Understanding (MoU) was signed in the presence of senior management from both companies.
This collaboration is set to allow CashNow — a cutting-edge fintech platform — to power a fully combined digital Islamic supply chain finance solution for suppliers, developed in partnership with Meezan Bank.
Through this partnership, Meezan Bank’s customers can access digitally streamlined Shariah-compliant financing.
Under the MoU, Meezan Bank and CashNow have jointly developed a digital Islamic product for finished goods financing, leveraging CashNow's platform and Meezan's core banking system to improve efficient, Shariah-approved transactions.
Read more: Interest-free banking in Pakistan to start from Jan 2028
Meezan Bank Group Executive Corporate, Commercial and Investment Banking, Syed Tanveer Hussain, stated: “Meezan Bank is committed to fostering growth across all business sectors, with a strong focus on supporting SMEs & Supply Chain finance.”
CashNow Director/Co-Founder Saeed Iqbal said: “We are honoured that Meezan Bank has entrusted CashNow with this pivotal Supply Chain Finance initiative.”
This partnership between both organisations is a major step in improving financial and operational excellence in supply chain management. With the help of this initiative, new rules in supply chain finance are set, driving innovation and supporting Pakistan’s economic growth.
