ISLAMABAD: Pakistan’s Foreign Minister Ishaq Dar and United Arab Emirates Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan on Wednesday resolved to enhance bilateral cooperation in all sectors, state-run media reported, following Abu Dhabi crown prince’s recent visit to Pakistan.
Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan visited Pakistan on his first official visit to the country on Feb. 27 with a high-level delegation. During the visit, both countries signed key agreements to boost cooperation in mining, railways, banking and infrastructure sectors.
Dar, who is also his country’s deputy prime minister, received a phone call from the UAE foreign minister on Wednesday during which the latter conveyed Ramadan greetings to the former and the people of Pakistan, the state-run Associated Press of Pakistan (APP) reported. 
“Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, and UAE Deputy PM/ Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan on Wednesday reaffirmed their commitment to enhancing bilateral cooperation across all sectors,” APP said. 
“The two leaders also discussed the results of the recent visit by the Crown Prince of the UAE to Pakistan,” it added. 
Dar also extended Ramadan wishes to the UAE foreign minister and expressed solidarity with the people of the Gulf country.
The UAE is Pakistan’s third-largest trading partner after China and the United States and a major source of foreign investment, valued at over $10 billion in the last 20 years, according to the Gulf country’s foreign ministry.
Pakistan and the UAE have stepped up efforts in recent years to strengthen economic relations. Last year the two countries signed multiple agreements exceeding $3 billion for cooperation in railways, economic zones, and infrastructure development.
Policymakers in Pakistan consider the UAE an optimal export destination due to its geographical proximity, which minimizes transportation and freight costs while facilitating commercial transactions.
The UAE is also home to more than a million Pakistani expatriates, making it the second-largest Pakistani expatriate community worldwide and a major source of foreign workers’ remittances.

ISLAMABAD: American financial services company Payoneer has partnered with Meezan Bank, Pakistan’s largest Islamic bank, to enhance cross-border payments for Pakistani businesses, entrepreneurs, and freelancers, a press release said on Wednesday.

Under the partnership, Meezan Bank customers can link their Payoneer accounts to the bank’s mobile banking app to make real-time withdrawals in multiple global currencies directly into their Meezan local receiving accounts. The mobile app integration will allow businesses in Pakistan to receive funds from clients, vendors, and marketplaces worldwide, enabling them to be “local” to their customers regardless of where they are. 

Meezan Bank customers will also access benefits including multi-currency balance monitoring, transparent FX rates, no hidden costs, pre-populated personal details, quick authentication via SMS, and a straightforward account-linking process.

The integration will also ensure that Proceeds Realization Certificate (ePRC), an essential document provided by Meezan Bank for regulatory adherence, tax filing, and securing export rebates, will be issued with every transaction, addressing a critical legal requirement for Pakistan's small and medium businesses engaged in cross-border trade.

“By partnering with Meezan Bank, we are providing Pakistani businesses access to financial management tools that will support their global expansion and help them grow alongside the evolution of Pakistan's export landscape,” said Mohsin Muzaffar, country manager at Payoneer Pakistan.

“We're committed to enabling Pakistan’s businesses to thrive on the global stage while contributing to the acceleration of the country's digital export growth.”

Abdullah Ahmed, group head transaction and international bankinggroup at Meezan Bank, said the institution’s strong digital infrastructure and deep expertise in the interconnected global economy had made it an “ideal Islamic banking partner” for Payoneer. 

“This seamless integration reflects our shared vision of fostering financial inclusion, driving innovation, and supporting Pakistan’s digital economy in alignment with ethical and Islamic financial principles,” the official said. 

"We look forward to a successful collaboration that empowers businesses and individuals alike through responsible and inclusive banking solutions.”

The collaboration comes at a pivotal time for Pakistan's digital economy. The nation's IT exports reached $3.2 billion in FY2023-24, a 24% year-on-year increase. Pakistan's freelance worker community of over 1.5 million professionals also contributed $350 million to the country's foreign exchange reserves last year.