Competition Banks Towards Digitalization Peek By NBP and HBL

Banks play an important role in the economy of its country. To maintain its position of playing role in for the better future of Pakistani economy,  NBP and HBL both are doing their best. In this struggle for the brighter future of Pakistan’s economy,  NBP is going to initiate Prime Minister Youth Business Loan (PMYBL) scheme next week as per its Islamic Banking Division Aitemaad alongside HBL Is all set to start Innovation challenge which will conclude in shaping the future of Pakistan.

Under the scheme of HBL Innovation Challenge,  HBL has decided to invite the people who can prove themselves of being game changers by sharing their ideas relating transformation of the future of banking.

The game changers, business persons, and innovators are invited to do share their ideas following the themes of customer authentication and data protection /customer onboarding downstream business application/ data analytics, algorithms and AI/regulatory technology.

NBP will be the only bank to launch the PMYBL scheme in both the Islamic and conventional banking systems. This scheme under Shariah-compliant banking will rush the approval of financing for various projects by NBP because this scheme will attract faith aware customers as received from Banks Today app.

Though the other banks are disinclined now towards this scheme, but NBP is still involved in endorsing PMYBL scheme to set a product or business promotion for youth and startups.

Having paid Rs. 6.35 billion in 2015 with 6791 debtors, and Rs. 15 billion to 14,700 debtors in 2016, NBP is now working on PMYBL scheme under normal banking setup in which it has protracted Rs. 2 billion, as a pioneer and leader of this scheme.

NBP has become the first to initiate training of bankers.

On the other side,  you can apply for HBL Innovation Challenge by 7th of May in the current year, on www.hbl.com/innovationchallenge.

Apply soon and let HBL turn your dreams into reality.

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