Walee Financial Services Receives NBFC License from SECP
Walee Financial Services is proud to announce that the Securities and Exchange Commission of Pakistan (SECP) has granted it the Non-Banking Financial Company (NBFC) Investment Financial Services (IFS) licence. This significant achievement solidifies Walee Financial Services as a licensed provider of innovative financial solutions, allowing it to operate under SECP’s regulatory framework.
The licence, License No. SECP/LRD/119/WFSPL/2022-16, authorises Walee Financial Services to offer a diverse range of financial services, including:
- Digital Nano Financing – Providing quick access to small-scale loans for individuals.
- Buy Now, Pay Later (BNPL) – Offering customers the flexibility to make purchases and pay later in instalments.
- Earned Wage Access – Enabling employees to access their earned wages ahead of payday to manage financial needs.
- Invoice Factoring – Facilitating businesses with cash flow by unlocking the value of unpaid invoices.
SECP’s Proactive Efforts in Regulating the Market
Walee Financial Services applauds SECP’s proactive stance in eliminating unregulated and exploitative lending practices, ensuring a transparent and accountable financial ecosystem. Through such regulatory efforts, SECP has paved the way for legitimate financial service providers like Walee Financial Services to operate with integrity and consumer trust.
Advancing Financial Inclusion Through Technology
With this licence, Walee Financial Services will continue leveraging technology to deliver ethical, reliable, and efficient financial solutions. The company aims to bridge financial gaps through a digital-first approach, focusing on meeting the evolving needs of individuals and enterprises across Pakistan.
The NBFC licence marks a significant step in Walee Financial Services’ journey toward building a trusted financial ecosystem. As the company expands its product offerings, it remains committed to serving the financial needs of underserved communities and businesses, driving positive change in Pakistan’s financial landscape.
Walee Financial Services at Singapore FinTech Festival 2023
Driving Innovation in Fintech
Engaging with Global Leaders
The Singapore Fintech Festival provided Walee Financial Services with a valuable platform to connect with global financial leaders, startups, and investors. Engaging conversations focused on sustainable finance and technology-driven solutions were key themes throughout the event. Notable highlights included thematic zones like the Technology Zone, showcasing cutting-edge AI innovations, and the Founders Zone, where startups pitched their ideas to leading investors.
Exploring Opportunities
Walee Financial Services actively explored ways to leverage AI to enhance its product offerings, including behavioural lending models tailored for the evolving financial landscape. The festival also featured collaborative sessions, such as the Talent Zone’s mentorship programs, aimed at nurturing the next generation of fintech professionals, supporting Walee Financial Services’s commitment to financial inclusion.
Investor Hours and Networking
A standout segment of the festival was the Investor Hours, providing dedicated time for companies to engage with potential investors. This opportunity allowed WFS to showcase its vision and explore potential collaborations with key industry players. Additionally, after-hours networking events facilitated relationship-building in a more relaxed setting, further enhancing collaboration prospects.
Walee Financial Services’s participation in the Singapore FinTech Festival reinforced its position within the global fintech ecosystem while showcasing its dedication to innovative solutions. By engaging with stakeholders and exploring new partnerships, Walee Financial Services aims to advance its mission of driving financial inclusion through nano-financing, contributing to the broader goals of transforming financial services.
Walee Financial Services Appoints Dr. Rashid Mansoor as Shariah Director
Walee Financial Services is proud to announce the appointment of Dr. Rashid Mansoor as Head of Shariah. Dr. Mansoor brings a wealth of knowledge and expertise in Islamic finance, positioning Walee Financial Services to enhance its commitment to providing innovative and ethically grounded Shariah-compliant financial solutions.
About Dr. Rashid Mansoor
Dr. Rashid Mansoor is a distinguished expert in Islamic finance with extensive experience in academia, Shariah consultancy, and corporate training. He holds a PhD in Islamic Finance from INCEIF University, Malaysia, where his research focused on the critical role of financial inclusion and Islamic finance in mitigating income inequality post-crisis. His academic credentials include an MSc in Economics from Lahore University of Management Sciences (LUMS) and comprehensive training in Shariah studies. Additionally, he is a Certified Shariah Advisor and Auditor (CSAA) from AAOIFI, Bahrain.
Throughout his career, Dr. Rashid has significantly contributed to the development of Shariah-compliant financial products. As the Head of Shariah at Walee Financial Services, he will play a pivotal role in launching innovative digital finance solutions that adhere to Islamic principles.
Dr. Rashid’s expertise spans product development, Shariah compliance, and consultancy, having collaborated with banks, non-bank financial institutions (NBFIs), social welfare organizations, and leading names in the construction industry. His academic background includes serving as an Assistant Professor of Islamic Finance at Riphah International University, where he taught courses in Islamic banking, economics, and finance.
Vision for Walee Financial Services
In his new role, Dr. Rashid aims to foster a comprehensive and ethically grounded Islamic finance ecosystem that empowers communities and promotes financial inclusion.
Dr. Rashid Mansoor’s Statement
With the appointment of Dr. Rashid Mansoor, Walee Financial Services is poised to strengthen its commitment to Shariah-compliant financing that aligns with the principles of ethical finance, free from riba and interest. Dr. Rashid’s leadership will be instrumental in driving the company’s mission to deliver innovative financial solutions that cater to the diverse needs of its clientele.
Walee Technologies & Cheetay Pakistan partner to drive innovation and growth
Lahore, September 12, 2023 – Walee Technologies Pvt. Ltd. (Walee), Pakistan’s frontrunner influencer marketing technology company, has joined hands with Cheetay Pakistan, the country’s leading delivery startup, in a broad ranging marketing partnership covering social commerce, creator media and collaborations on product. The Memorandum of Understanding (MOU) signing was held at Cheetay’s Lahore Headquarters where the teams exchanged views on the various challenges and opportunities in the landscape.
Under this partnership, Walee and Cheetay teams will work together to drive acquisitions using the media opportunities in the influencer and creator ecosystems. Cheetay aims to supercharge the reach and impact of their marketing campaigns delivering customer value and engagement. The teams will also work together on product opportunities and building the Cheetay’s Sahar brand together.
Speaking about the partnership, Ali Imran Memon (SVP Creator Media @ Walee) said, “We are thrilled to collaborate with Cheetay Pakistan. This partnership reflects Walee’s commitment to driving innovative influencer marketing solutions that create meaningful connections between brands, creators and their target audiences. We look forward to achieving new milestones and delivering exceptional value to the Cheetay brand and their customers.”
Walee is the only Influencer Marketing platform in Pakistan that offers accurate data and discovery for over 160,000 influencers, campaign measurement across full funnel objectives and a transparent ecosystem that benefits both brands and creators. Under this broad ranging partnership, the Walee team will deliver geo-tailored solutions to Cheetay in their core cities, Lahore and Islamabad/Rawalpindi.
Cheetay Pakistan’s Head of Product, Ms. Nazia Hashmi Ahmad stated, “Cheetay is excited to partner with Walee after the launch of its unique gamified loyalty program. Cheetay offers premium Grocery, Pharma, Food and Gifting solutions across Lahore, Islamabad and Rawalpindi”
Discover more about WALEE at www.walee.pk
Download WALEE App at Google Playstore or Appstore
Media Contact: Asna Hassan Rizvi asna.rizvi@walee.pk
Empowering Pakistan's Creators and Brands: Walee Creators Academy Season 2 Launches in Islamabad
Islamabad, September 12, 2023 – Walee hosted its Creators Academy Season 2 launch with some of Pakistan’s top creators and marketing teams at the Walee HQ in Islamabad. The event followed 4 days of shoots with the top creators recording the next instalment of Walee Creators Academy.
Walee Creators Academy serves as a dedicated and innovative platform designed with a clear mission in mind: to birth and nurture the next generation of content creators, influencers and key opinion leaders in Pakistan. It’s an initiative that seeks to give back and make the industry accessible and sustainable – for both creators and brands.
Ali Imran Memon (SVP Creator Media @ Walee) addressed the industry’s murky supply chain and emphasised Walee’s proactive role in bridging the gap between creators and brands. He went on to mention that the industry had stagnated due to a trust deficit and that Walee has taken on the mission to bridge the gap between Creators and Brands. He highlighted Walee’s unique platform, which provides discovery, data and measurement for brand campaigns. With Walee’s insights and unwavering commitment to transparency in the supply chain, brands can rest assured that investments in Creator Media yield strong ROI.
The event saw participation from prominent brands like Jazz, Telenor, ONIC, HBL, Dao Proptech, Easy Paisa, Transworld, LeyJao, Starcom, Brainchild, Z2C and Jacked Nutrition. On the creators’ side, notable attendees included Hira Attique, Falaq Shahid, Byrooj, Hamza Bhatti, Syed Owais Ali, Ramma Jaffri, Khayyam Sajid, Mahnoor Shaukat, and Haris Mehmood.
The initiative aimed to foster meaningful interactions between creators and brands. Brand teams and creators engaged in fruitful discussions and candidly addressed the challenges they encounter when working with each other. The sundowner event ended with the Walee team promising that this is not just a beginning, but the dawn of an exciting journey ahead.
Discover more about WALEE at www.walee.pk
Download WALEE App at Google Playstore or Appstore
Media Contact: Asna Hassan Rizvi asna.rizvi@walee.pk
WALEE PARTNERS beta launch with Waliya Najib
WALEE, Pakistan’s first influencer marketing platform is on the mission to unify the creator economy. Walee has established a reputation as a strong MarTech players with its use of data and AI to help advertisers in Influencer marketing. And now, Walee is taking the same technology and aiming to help Creators with their “Walee Partners” program. The AI-powered program aims to provide creators with advanced insights, inspirations, predictive analytics. With the launch of this groundbreaking program, WALEE takes a giant leap towards realizing the vision to identify how creators can tap into new technology, data, and AI and be able to provide a product that adds value to their ‘creator careers’ by teaming up with none other than one of Pakistan’s biggest creators, Waliya Najib.
Waliya has taken on the role of Creator partner on this project. Her first hand experience as a creator with over 1.4 million followers, provides WALEE with valuable insights and perspective to help further develop technology that will benefit fellow creators in the creator economy.
The product is slated to contain exciting features such as:
1) Smart Profiling; match with similar interests, and niches.
2) Data-Driven Insights; Walee’s proprietary Influencer Insights Report with over 70 data points helps Creators produce better, more impactful content
3) Personal Creative Assistant: AI-tailored recommendations and insights to inspire their creative journey, fostering growth.
4) Performance & ROI Predictions: Empowering creators with the foresight for maximum reach and engagement with predictive outcomes .
5) Streamlined Partnerships: Seamless workflows for influencers and brands to enhance efficiency in their content creation journey.
The collaboration with Waliya Najib is a testament to WALEE’s commitment to fostering innovation and continuing to generate revolutionary change within the influencer ecosystem. This collaboration is set to elevate the landscape, serving as a trailblazing example of how AI and creativity can fuse together to redefine how content is created and consumed tomorrow.
Noshad Minhas: CEO of Walee Financial Services
Noshad Minhas, a seasoned banking professional and visionary entrepreneur, has officially launched Walee Financial Services in collaboration with Walee Group. As the Co-founder and CEO, Noshad leads this bold initiative to bridge financial inclusion gaps through technology-driven, Shariah-compliant solutions. Walee Financial Services aims to empower individuals and small businesses by offering innovative financial products through its flagship platform, Hakeem.
With over 20 years of experience in traditional and Islamic banking, Noshad brings a wealth of expertise in consumer finance, payroll management, and digital transformation. His leadership experience spans multiple organisations, including founding Pakistan’s first BNPL NBFC at QisstPay and leading fintech expansions at Fasset. Through Walee Financial Services, Noshad aims to bring new momentum to Islamic finance by fusing technology with ethical financial practices.
“After two decades in banking, I believe the true potential of economic development in emerging countries lies in innovative Islamic finance powered by technology and AI. With Hakeem, we aim to bridge the financial inclusion gap by offering ethical, Shariah-compliant solutions for the masses and SMEs. By leveraging fintech, we empower communities to access financing that fosters sustainable growth, reduces inequality, and unlocks opportunities in Pakistan and beyond,”
Noshad Minhas, Founder & CEO, Hakeem (WFS).
About Walee Financial Services
The Hakeem platform, central to Walee Financial service’s mission, offers quick access to nano finance through a seamless and user-friendly app experience. The platform caters to underserved communities and SMEs, focusing on reducing financial barriers and enabling growth through ethical financing. With minimal documentation requirements, Hakeem aims to simplify the borrowing process, ensuring compliance with Shariah principles while meeting the needs of the masses.
By combining cutting-edge technology with Islamic finance principles, Walee Financial Services empowers communities to access ethical financial services, driving financial inclusion and growth across Pakistan and beyond.
Investing in the Future of Pakistan, Walee sponsors Pakistan Young Lions Competition (PYLC)
WALEE, the leading MarTech platform in Pakistan and the MENA region, proudly sponsored the Pakistan Young Lions Competition, organized by the Pakistan Advertisers Society (PAS). The event unites young marketers nationwide, allowing them to display their creative talent and problem-solving skills to expert judges.The winners will represent Pakistan in the 2023 global competition at the Cannes Lions International Festival of Creativity.
PYLC Competition & Team Formation
The competition invites advertising and branding professionals aged 30 or under to solve a marketing brief in 24 hours. The competition was divided into two categories: The Young Marketers Competition (YMC) and the Young Digital Competition (YDC). As a total 76 young professionals teamed up in pairs, forming 38 teams of participants in each contest. The brand assigned in the YMC was The Citizens Foundation (TCF), while the YDC participants worked on WALEE’s brief. The challenge required the teams to incorporate WALEE’s Influencer Marketing (IM) tool to create solutions for their respective cases.
WALEE’s powerful social listening AI forms the foundation of the unique IM tool. It provides users with Influencer Quality Scores (IQS), a proprietary scoring system to identify the right influencer mix for a brand’s campaign. The scoring is based on multiple important and relevant factors such as reach, engagement, impressions, and content analysis.
Team IMF from AdCom won the YDC, while Team Snack from CBL was victorious in the YMC category. The 4 winning participants will get a unique opportunity to represent Pakistan at the Cannes Lions International Festival of Creativity. They will be competing against national winners from other countries at the prestigious global platform.
CEO Walee Remarks
Ahsan Tahir, CEO of WALEE, expressed gratitude for sponsoring PYLC and commended the young leaders’ efforts in the event. As a technology company, we understand the importance of fostering innovation and leadership in the next generation, and are proud to contribute to this important initiative.”
WALEE’s sponsorship further strengthens its commitment to fostering the next generation of Pakistan’s marketing and advertising leaders. As an organization dedicated to empowering emerging talent, WALEE values and celebrates initiatives that showcase the country’s exceptional skills and capabilities to the world, providing access to cutting-edge technologies that enable them to reach their full potential.
In pursuit of this mission, the organization also previously established the WALEE-NUST Center of Excellence (WNCE) and by supporting such initiatives, WALEE is making a significant contribution to the development of emerging talent in Pakistan.
