In a groundbreaking development for Pakistan’s ICT industry and overall economy, Huawei Technologies Ltd and Khazana Enterprise have joined forces to build the country’s first hyper-scaler financial cloud.

The announcement was made at a prestigious launch event attended by key leaders from the financial industry, government, and business sectors of Pakistan.

The establishment of the First National In-Country Cloud represents a significant leap forward, not only for Pakistan’s ICT industry but also for its economy as a whole.

Previously, Pakistan had been denied access to millions of dollars for cloud services, but this initiative will eliminate that barrier. It opens the door for entities to opt for a local cloud solution that benefits both local businesses and the national treasury.

During the event, Nadeem Hussain, the Executive Chairman of Planet N Group, congratulated Huawei Management and Khazana team for the successful cloud launch, emphasizing the importance of digital storage solutions like cloud technology in building a digital Pakistan.

He highlighted the advantages of cloud storage, such as flexibility, agility, cost-effectiveness, and cybersecurity, and praised Huawei Cloud as one of the top cloud service providers capable of addressing these needs.

Mr. Bob Din, Chairman of Khazana, extended his congratulations to the tech industry of Pakistan, particularly the Khazana team and Huawei Cloud team, for their progressive initiative. He also acknowledged the conducive regulatory environment provided by the Pakistani authorities for the development of cloud infrastructure.

Mr. Shahzad Rasheed, CEO of Huawei Cloud Pakistan, emphasized the era of disruption and the need for organizations, especially banks, to embrace digital transformation. He highlighted the importance of digital drivers such as AI, IoT, and Machine Learning, which require cloud hosting. Huawei Cloud, as one of the three hyper-scalers with a federated cloud available in Pakistan, differentiates itself by providing software services and out-of-the-box solutions with a single click for digital banks.

Mr. Akif Saeed, Chairman of SECP, acknowledged the importance of data protection and commended the partnership between Huawei and Khazana for addressing regulator and end-users concerns regarding data sovereignty and security. He emphasized the significance of data as the new oil or wealth that needs protection.

Ms. Sima Kamil, Deputy Governor of the State Bank of Pakistan, expressed her appreciation for the launch of Huawei Cloud and highlighted the five main reasons why the SBP approves of this indigenous cloud model. These reasons included addressing data security concerns, ensuring data remains within the country as per relevant laws and regulations, providing control over sensitive information, reducing latency and improving efficiency, contributing to economic growth and employment generation, and optimizing costs.

Ms. Kamil concluded by stressing the importance of cloud infrastructure in reducing dependence on data and fostering the data economy. Huawei Cloud, with its presence in 29 regions worldwide, has become the preferred choice of customers in industries such as finance and manufacturing for cloud migration. As a global provider of ICT infrastructure and smart devices, Huawei is committed to enabling a fully connected, intelligent world.

Khazana Enterprise, dedicated to providing innovative products and services, aims to simplify and enhance the lives of individuals and businesses across Pakistan. With a customer-centric approach, Khazana plans to establish physical service centers and dedicated customer support channels, emphasizing human interaction to address customer concerns throughout their financial journey.

The launch event solidified the collaboration between Huawei and Khazana Enterprise, marked by the signing of Memoranda of Understanding (MOUs) with fintech companies, including Raqami Islamic Digital Bank, HengShan, and TitliS Technology. Khazana’s National Cloud services will establish a robust and secure infrastructure, enhancing operational efficiency, reducing costs, and fostering innovation across various sectors. Khazana envisions a thriving digital ecosystem where businesses can collaborate and contribute to Pakistan’s economic growth.