PAKISTAN: Mahaana Wealth, a Y-Combinator–backed fintech, in partnership with IGI Life Insurance, has launched the country’s first fully digital Islamic voluntary pension scheme, the Mahaana IGI Islamic Retirement Fund. The platform, developed under the supervision of the Securities and Exchange Commission of Pakistan, offers Shariah compliant retirement savings accessible to individuals, including self-employed workers. IGI Life will oversee fund administration and Takaful services, while the Central Depository Company will act as custodian.
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