Karachi(Cliff News)Meezan Bank, Pakistan’s first and largest dedicated Islamic bank has recently signed an agreement with Inov8 Limited, the region’s fastest growing digital payments company, to partner on Inov8’s next generation FalconPay Payment’s Ecosystem. The FalconPay platform is a complete digital ecosystem powered by MasterCard’s digital wallet solution, Masterpass. With Meezan Bank’s increasing focus on digital channels to serve its fast-growing population of Islamic banking customers; this platform will enable them to pay for in-store, online and on-the-go purchases, make digital or bill payments, book and pay for movie and bus tickets, enjoy conveniences such as mobile airtime top-ups and much more. Meezan Bank will be the first bank in Pakistan to allow customers to link their Bank accounts with the TheFalconPay mobile application will allow customers to link their Bank accounts with the application to pay for any transaction.Mr. Irfan Siddiqui, President & CEO – Meezan Bank while speaking at the signing ceremony highlighted the importance of a strong payment platform as part of the Bank’s comprehensive digital banking strategy and said, “I believe this agreement will help both the parties to set up a new standard for digital banking by enabling Meezan Bank to capture its customers’ transactions, meeting their real-time needs and proceeding towards a fully digital relationship.” Inov8 Limited’s Co-Founder and Co-CEO, Hasnain Sheikh, stated, “We are delighted in strengthening the digital ecosystem for Meezan Bank, Pakistan’s fastest growing bank. Our best in class platform will create a new era of digital banking and payments for issuers, acquirers, and merchants.”Meezan Bank is the 8th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 550 branches supported by a countrywide network of over 500 ATMs, VISA& MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking facility. Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. These institutions include Islamic Finance News – Malaysia, Global Finance magazine – New York, Asset AAA – Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, Pakistan Banking Awards – Dawn & IBP Pakistan and CFA Association – Pakistan. The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA (Double A) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank. Meezan Bank is the only Islamic bank with AA credit rating in the Islamic banking industry in Pakistan. Inov8 Limited is the Region’s fastest growing digital payments company and has grown to become a leading partner to banks and mobile operators, both locally and internationally. The company recently secured Series A Funding of $5.4 million and achieved a valuation in excess of $100 million. Inov8 is the dominant player in the Pakistan market offering next generation products designed to address all facets of the digital financial services and commerce value chains.