Allied Bank has entered into a strategic collaboration with the Center for Digital Asset Research (CeDAR) at Lahore University of Management Sciences (LUMS) to accelerate blockchain research and innovation in Pakistan. The partnership was formalized through a Memorandum of Understanding (MoU) signing at the LUMS campus, marking a step forward in bridging the gap between academia and industry in the country’s rapidly evolving financial technology sector. The initiative is designed to explore blockchain-based solutions, develop use cases for digital assets, and equip future professionals with the skills necessary to thrive in emerging technology fields.
The MoU signing brought together senior leadership from both organizations. Allied Bank was represented by Mujahid Ali, Chief Technology & Digital Transformation; Mohsin Mithani, Chief Digital Officer; and Muhammad Zaman, Group Head, Digital Transformation & Innovation. From LUMS, attendees included Provost Dr. Tariq Jadoon, Principal Investigator Dr. Zartash Afzal Uzmi, Co-Principal Investigator Dr. Basit Shafia, and Director Ali Khawaja. Their collective expertise highlights the multi-disciplinary approach required to bring blockchain and digital asset research from theory into practical implementation.
Under the agreement, Allied Bank and CeDAR will collaborate on advanced research projects, initiate blockchain-based pilot programs, and design specialized training modules to cultivate a skilled workforce capable of addressing the unique challenges of the digital economy. This joint effort aims to create real-world applications for blockchain in areas such as financial inclusion, secure transactions, and digital asset management, while also supporting policymakers in crafting effective regulatory frameworks. The focus is on fostering innovation that can be scaled to benefit both the financial sector and broader socio-economic development.
Allied Bank continues to position itself as a forward-looking institution with a strong emphasis on integrating cutting-edge technologies into its operations. Its digital transformation strategy includes adopting AI-driven platforms, enhancing customer experiences, and exploring new financial service models through emerging technologies. LUMS, through CeDAR, serves as a key innovation hub, connecting academia, industry, and government to advance research in blockchain and digital assets. By combining Allied Bank’s market expertise with CeDAR’s research capabilities, this partnership is set to play a pivotal role in driving the adoption of blockchain technologies in Pakistan’s banking sector, strengthening the foundation for a more transparent, efficient, and technology-driven financial ecosystem.
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