LCCI, UBL Partner to Boost Digital Payments in Pakistan

By Farzana Chaudhry | Lahore, Pakistan
The Lahore Chamber of Commerce and Industry (LCCI) and United Bank Limited (UBL) have signed a Memorandum of Understanding (MoU) to promote digital payments and facilitate safe, fast, and efficient financial transactions for LCCI members.
The agreement was signed by LCCI President Faheem Ur Rehman Saigol and UBL Cluster Head Digital Banking Group Amman Uel Channa, with UBL Group Head Muhammad Amir Sheikh also in attendance.
Under the MoU, UBL will provide digital payment solutions, including QR-based transactions, enabling LCCI members to adopt cashless payment systems, enhance transparency, and improve efficiency in business operations.
Speaking at the ceremony, LCCI President Faheem Ur Rehman Saigol emphasized that digital banking and fintech solutions are crucial for the growth of small and medium enterprises (SMEs) and for formalizing the economy. He noted that partnerships with major banks like UBL will help members transition to modern and secure financial systems.
UBL officials reaffirmed the bank’s commitment to advancing digital banking and offering tailored financial solutions for chambers and trade bodies.
Senior LCCI leaders, including Senior Vice President Tanveer Ahmed Sheikh and Vice President Khurram Lodhi, along with Vice President of SAARC Chamber Mian Anjum Nisar and Chief Manager of the State Bank of Pakistan Tariq Riaz, attended the signing ceremony.
Both parties expressed optimism that the agreement will strengthen collaboration between the banking sector and the business community, supporting Pakistan’s growing digital economy.