BANGKOK, April 23, 2025 /PRNewswire/ -- Daira, an established fintech platform in Pakistan, proudly reports a significant business update at Money 20/20 Asia, held in Bangkok, during April 22nd – 24th, 2025. Sheikh Omer Nasim, CEO of Daira, attended the event and delivered a keynote speech, titled "Fintech's Role in Driving Financial Literacy in Pakistan".

He highlighted the pressing challenges the country faces, which include low financial literacy, limited access to formal banking, and a heavy reliance on cash-based transactions. He also emphasized the critical need for financial literacy in Pakistan and highlighted how fintech is closing the inclusion gap for millions.

With Pakistan's smartphone penetration at 51% and over 124 million mobile internet users, fintech solutions like mobile wallets and microfinance platforms are uniquely positioned to reach underserved populations. Fintech solutions can leverage AI to deliver personalized financial literacy programs, boosting engagement and retention. The State Bank of Pakistan (SBP) reported a 35% growth in digital payments in the country during 2024 as evidence of shifting consumer behavior and increasing openness to digital finance.

Daira, at the forefront of Pakistan's financial inclusion efforts, is offering small-scale, easily accessible loans through a user-friendly mobile app launched in October 2024. The platform leverages AI to deliver personalized financial tips based on user behavior, helping individuals build financial literacy while managing their day-to-day needs. By expanding to online marketplaces and small businesses, Daira aims to further accelerate financial inclusion.

"We're not just providing access to finance, we're helping people understand it, and leverage it. Leveraging 17 years of technology expertise and extensive experience in market localization, we aim to drive digital financial inclusion in Pakistan through our fintech platform Daira. The company obtained a Non-Banking Financial Company (NBFC) license from the Securities and Exchange Commission of Pakistan (SECP) in 2024, laying the foundation for our compliant operations within Pakistan," said Nasim.

Nasim added, "Our development in Pakistan is closely tied to impact goals, especially increasing women's financial participation, which is supported by SECP's inclusion framework – the Women Equality in Finance Policy Framework (WEEP) for Non-Bank Microfinance Companies (NBMFCs) to enhance women's financial inclusion and strengthen their role in the financial ecosystem. Daira's simple mobile interface and AI tools make it easier for women entrepreneurs and first-time borrowers to engage with digital finance confidently."

Story Continues

Daira is an affiliate brand under the New York Stock Exchange listed group FinVolution Group (NYSE: FINV).Cision

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ceo-sheikh-omer-nasim-showcases-dairas-financial-inclusion-efforts-at-money-2020-asia-302435703.html

SOURCE FinVolution Group

View Comments