Karachi – Al Baraka Bank (Pakistan) Limited (ABPL) has introduced the NexGen Debit Card, an exclusive financial product designed for the community of the Indus Valley School of Art & Architecture (IVS). This is Pakistan’s first co-brand university affinity debit card, developed in collaboration with PayPak and designed by the students of the Department of Communication Design at IVS. The initiative marks a significant step in the bank’s strategy to expand digital financial inclusion in Pakistan.
The launch event, held on Friday 5th December 2025 at the IVS’ Nusserwanjee building (a 100-year-old heritage building of Karachi), was attended by senior figures from the banking and academic sectors, including Muhammad Atif Hanif, Chief Executive Officer of ABPL; Najeeb Agrawalla, Chief Executive Officer of 1 Link; Dr. Faiza Mushtaq, Dean and Executive Director of IVS, and Mr Shahab Ghani, IVS Board Member and Chair of the Executive Committee.
The Al Baraka IVS Debit Card, powered by PayPak, is the first university co-branded debit card in Pakistan. It has been tailored to meet the needs of IVS students, alumni, and faculty, offering them access to digital banking services, exclusive discounts and deals and a full array of Islamic Financial Solutions and financial literacy programs.
The initiative forms part of Al Baraka Bank’s broader NexGen Banking vision, which seeks to deliver customized financial solutions to communities across the country. By supporting Pakistan’s youth, the bank aims to strengthen its role in fostering financial literacy, accessibility, and innovation, while reinforcing its commitment to community development and ethical growth.
“This launch underscores our ambition to build a Pakistan-first Islamic digital ecosystem that empowers youth with secure, innovative and inclusive financial solutions,” said Mr. Muhammad Atif Hanif, CEO Al Baraka Bank (Pakistan) Limited. He further added, “We believe that partnerships with institutions like IVS will helxp us nurture the next generation of leaders while advancing halal financial inclusion nationwide”. The CEO ABPL apart from Islamic Banking also emphasized on the fast growing diverse Global Halal economy and significance of alignment of Pakistan with opportunities in enhancing exports in halal products and services. He specially commended the role of IVS in producing great talent in various fields, specially fashion and emphasized on the potential great role IVS graduates can play in development of Halal Fashion Industry in Pakistan.
With a vision for unrivalled services, dedication to Islamic Banking, increasing network points, and innovative product line, Al Baraka Bank (Pakistan) Limited is committed to play a leading role in the Banking Industry of Pakistan. Al Baraka Bank Pakistan is part of the Al Baraka Banking Group (ABG) with Head Office based out of Bahrain. ABG is among the oldest Islamic Banking Groups and has subsidiaries operating in 13 countries.
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