Banks in Pakistan embrace Shariah-compliant strategies to enhance services

Banks in Pakistan are increasingly focusing on customer-centric services, especially after recent privatizations. Shariah-compliant banks are gaining popularity, intensifying competition with conventional banks. Technology, including AI, is expected to enhance services in key sectors like textiles and agriculture. Citibank's local head noted that many foreign banks have exited Pakistan due to its declining credit profile. In contrast, local banks have thrived post-privatization. Citi aims to attract foreign investment and support Pakistani businesses in expanding internationally. HABIBMETRO plans to implement AI for better trade monitoring and compliance, while HBL emphasizes its tech-driven approach in agriculture. Al Baraka Bank is also transitioning to a digital banking model, reflecting the industry's shift towards technology integration.