Karachi, March 5, 2025 – Payoneer, a global fintech leader empowering small and medium-sized businesses (SMBs), has teamed up with Meezan Bank, Pakistan’s premier Islamic bank, to streamline international payments for the country’s entrepreneurs, freelancers, and SMBs. The partnership was sealed during a signing ceremony at Meezan Bank’s Head Office, graced by Syed Amir Ali, Deputy CEO of Meezan Bank, and Mohsin Muzaffar, Payoneer’s Country Manager for Pakistan. This alliance promises to simplify global transactions and enhance cash flow for Pakistan’s growing business community.
Through this collaboration, Meezan Bank clients can now connect their Payoneer accounts to the bank’s mobile app, enabling real-time withdrawals in various international currencies directly into local accounts. This integration empowers Pakistani businesses to effortlessly collect payments from clients, vendors, and global marketplaces, making them feel “local” to customers worldwide. Key perks include multi-currency balance tracking, clear foreign exchange rates, zero hidden fees, pre-filled personal data, swift SMS authentication, and an easy account-linking process.
A standout feature is the automatic issuance of the Proceeds Realization Certificate (ePRC) with every transaction. Provided by Meezan Bank, this vital document ensures compliance with regulations, simplifies tax filings, and unlocks export rebates—meeting a crucial need for SMBs engaged in international trade.
The timing of this partnership couldn’t be better, as Pakistan’s digital economy surges forward. In FY2023-24, IT exports soared to $3.2 billion, marking a 24% rise from the previous year. Meanwhile, the country’s thriving freelance community—over 1.5 million strong—added $350 million to Pakistan’s foreign exchange reserves. This collaboration is set to accelerate that momentum.
Mohsin Muzaffar, Payoneer Pakistan’s Country Manager, emphasized the impact: “Teaming up with Meezan Bank equips Pakistani businesses with cutting-edge financial tools to expand globally. We’re dedicated to helping them flourish while boosting Pakistan’s digital export growth.”
Abdullah Ahmed, Group Head of Transaction & International Banking at Meezan Bank, added, “Our robust digital platform and expertise in today’s interconnected world make us the perfect Islamic banking partner for Payoneer. This integration reflects our commitment to innovation, financial inclusion, and supporting Pakistan’s digital economy with ethical solutions. We’re excited to empower businesses and individuals through this forward-thinking alliance.”
This partnership marks a significant step toward bridging Pakistan’s SMBs and freelancers with the global market. By combining Payoneer’s fintech prowess with Meezan Bank’s Islamic banking leadership, the collaboration promises to drive prosperity, simplify cross-border trade, and position Pakistan as a key player in the digital economy.
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