aik by BankIslami Partners with Shalimar Express to Digitise Railway Ticketing and Cargo Collections Nationwide

BankIslami, Pakistan's pioneer of Islamic Digital Banking, has formed a partnership with Shalimar Express, a key player in the AA Enterprises group, to digitize ticketing and cargo payments nationwide. This collaboration aligns with the State Bank of Pakistan's initiative to transition towards a cashless economy. The partnership was officially launched in Lahore, attended by senior officials from all parties involved.

BankIslami's President & CEO, Rizwan Ata, along with various executives from BankIslami, aik, and AA Enterprises, participated in the inauguration.

Through their agreement, BankIslami has introduced Raast QR payments, supported by audio Soundboxes, at AA Enterprises' 40 passenger terminals and cargo hubs across the country. This shift eliminates the need for physical cash transactions, enabling passengers and operators to receive instant digital confirmations for their payments.

Ashfaque Ahmed, Chief Officer of aik Digital, highlighted the significance of this move, stating that digitizing mass transit is essential to Pakistan's financial evolution. Transport and logistics have historically relied on cash, but this partnership brings aik Digital's fintech infrastructure into these critical corridors, promoting financial inclusion.

In the next phase, the partnership will extend to ticketing train journeys through the aik Digital app and utilize Dynamic QR Codes for seamless online payments. This initiative broadens the scope of cashless adoption across vital mobility networks, solidifying BankIslami's dedication to ethical, technology-driven, and Shariah-compliant digital finance.