KARACHI: Allied Bank Limited (ABL), one of Pakistan’s leading commercial banks, has signed a strategic Memorandum of Understanding (MoU) with the National University of Sciences & Technology (NUST) to strengthen academia-industry collaboration and promote innovation in fintech, digital banking, artificial intelligence and emerging technologies.
The MoU was signed by Mujahid Ali, Chief Technology & Digital, Allied Bank, and Dr. Rizwan Riaz, Pro-Rector, Research, Innovation & Commercialisation, NUST, during a ceremony held at NUST in the presence of senior representatives from both institutions.
Under this collaboration, ABL and NUST will establish a structured platform for knowledge exchange, applied research, talent development, and innovation-led initiatives. The partnership aims to bridge the gap between academic research and practical business applications by enabling students, researchers, faculty members, and banking professionals to work together on real-world challenges and emerging opportunities in the financial services sector.
Commenting on the partnership, Mujahid Ali said, “This partnership reflects Allied Bank’s commitment to shaping the future of banking through innovation, collaboration, and emerging technologies. By working with NUST, we aim to support applied research, develop future-ready talent, and explore practical solutions that can enhance digital banking and contribute to Pakistan’s evolving financial ecosystem.”
Dr. Rizwan Riaz shared, “Collaboration between academia and industry is essential for translating research and innovation into meaningful impact. Our partnership with Allied Bank will open new avenues for students, researchers, and industry professionals to jointly explore technology-led solutions, foster entrepreneurship, and contribute to the digital transformation of the financial sector.”
Copyright Business Recorder, 2026
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