Unveiling the Digital Revolution with Mr. Faisal Mahmood as the guest speaker, organized by Dr. Azima Khan, Assistant Professor at the Finance Department of SBS.

November 17, 2023: We had the pleasure of hosting Mr. Faisal Mahmood, Head of National Digital Infrastructure at Karandaaz Pakistan, as an honored guest speaker in a riveting session organized by Dr. Azima Khan, Assistant Professor at the Finance Department of SBS.

Faisal Mahmood is at the forefront of shaping Pakistan's digital landscape, focusing on developing a National Digital Infrastructure for Cashless Payments and Presenceless Digital Identity. During the session, he took us on a journey through the evolution of payments, starting from barter trading to the inception of paper currency.

Exploring the fascinating history, he delved into the advent of ATMs and their transformative impact on how people manage their finances. Mr. Faisal highlighted the establishment of 1LINK, a crucial initiative to integrate all bank ATMs, making banking services accessible everywhere.

Shedding light on the size of Pakistan's economy from various perspectives, Mr. Faisal Mahmood underscored the importance of digitizing the economy to bridge the gap in cash transactions. He emphasized the role of UBPS and IBFT, introduced by 1LINK in Pakistan, as pivotal milestones in the country's digital payment ecosystem.

Faisal Mahmood drew attention to the hefty cost of carrying cash from one place to another, emphasizing the need for a safer and more efficient digital alternative. He also elucidated the distinctions between push and pull payments, offering valuable insights into the dynamics of modern transactions.

As we navigate towards a cashless and presence less future, Mr. Faisal Mahmood's expertise provides invaluable guidance on digital infrastructure's pivotal role in shaping the economic landscape. Let's embrace the digital revolution and pave the way for a seamless, secure, and efficient financial future.