Allied Bank & LUMS CeDAR Partner to Propel Blockchain & Digital Asset Innovation in Pakistan

Allied Bank Partners with CeDAR, LUMS to Drive Innovation in Blockchain Technologies

A significant stride towards Pakistan’s digital future in finance has been made as Allied Bank, one of the nation’s leading commercial banks, officially joined forces with the Center for Digital Asset Research (CeDAR) at Lahore University of Management Sciences (LUMS). This strategic partnership, formalized through a Memorandum of Understanding (MoU) signed at LUMS, is set to propel innovation in blockchain technologies, explore groundbreaking digital asset applications, and cultivate a new generation of tech talent in the country.

The collaboration will see Allied Bank and CeDAR working hand-in-hand on cutting-edge research and development in blockchain. This includes launching pilot initiatives to test real-world use cases for digital assets and co-developing specialized training programs designed to equip future professionals with essential expertise in these rapidly evolving technological fields. This initiative is particularly vital for bridging the gap between academic research and industry application, aiming to accelerate Pakistan’s digital transformation within the financial sector.

The signing ceremony, held at LUMS, was attended by senior representatives from both organizations. From Allied Bank, key figures included Mr. Mujahid Ali – Chief Technology & Digital Transformation, Mr. Mohsin Mithani – Chief Digital Officer, and Mr. Muhammad Zaman – Group Head, Digital Transformation & Innovation. LUMS was represented by Dr. Tariq Jadoon – Provost, Dr. Zartash Afzal Uzmi – Principal Investigator, Dr. Basit Shafia – Co-Principal Investigator, and Mr. Ali Khawaja – Director.

This partnership highlights Allied Bank’s proactive approach to embracing emerging technologies and its dedication to fostering crucial industry-academia collaborations. It’s a clear signal of their commitment to shaping the future of banking in Pakistan, leveraging digital innovations for enhanced services and efficiency.

About the Partners

Allied Bank stands as one of Pakistan’s foremost commercial banks, renowned for its extensive range of financial products and services for both individuals and businesses. With a sharp focus on innovation, customer satisfaction, and digital enablement, the bank continuously drives progress through advanced technologies and AI-powered platforms.

Lahore University of Management Sciences (LUMS) is a prestigious academic institution, widely recognized for fostering innovation and cross-sector partnerships. Its Center for Digital Asset Research (CeDAR) acts as a pivotal platform connecting academia, government, and industry. CeDAR is dedicated to advancing research in blockchain and digital assets, addressing challenges like financial inclusion and citizen empowerment, and supporting policymakers in establishing effective and responsible regulations for sustainable adoption.