KARACHI: KASB has raised $4.5 million from global investors in one of the largest fintech investments in Pakistan. It will use the money to help Pakistanis better manage their savings and invests in Pakistani stocks and commodities.
KTrade is the most downloaded stock trading app in Pakistan with over 200,000 active downloads. KASB's mission is to make 10 million Pakistanis invest in companies listed in Pakistan through KTrade.
Using KTrade, Pakistanis can now invest in stocks at the comfort of their homes. They can track their portfolio 24/7, get access to KASB's award winning research and advice on investments and also practice trade using virtual trading feature.
Pakistan Stock Exchange has outperformed global markets on the back of the economic recovery and favourable government policies. KSE-100 Index is up more than 40 percent over the past 12 months and many Pakistani stocks have outperformed even Bitcoin. The best performance is in technology sector which shows the confidence both local and global investors in Pakistan's technology sector.
KASB chairman Ali Farid Khwaja said "Most people in Pakistan lack access to formal financial products. Their savings in real estate or gold offer inferior returns, these are inefficient and have high transactional costs. Hence we at KTrade believe in financial democracy and financial literacy by educating clients and giving them access to the stock market."
Copyright Business Recorder, 2021
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