Freelancers association and HBL sign deal on banking services

The Pakistan Freelancers Association (PAFLA) and Habib Bank Limited (HBL) have signed a memorandum of understanding to support freelancers across the country with better banking services, according to a press release published by The Nation on 9 October from Karachi.

Under the agreement, HBL will offer specialised banking products, foreign currency accounts, international payment solutions and digital banking services aimed at freelancers. The release did not give a launch date, pricing or the number of freelancers the bank expects to reach.

The two sides also plan joint work beyond products. The release listed financial literacy workshops, educational sessions and professional development programmes for upskilling, along with joint events, community engagement, industry partnerships and awareness campaigns. The stated aim is to support sustainable entrepreneurship, income growth and economic empowerment.

PAFLA chairman Ibrahim Amin said freelancers were becoming an integral part of the digital economy. He added that they earn foreign exchange for the country and create jobs, and that banks have an important role in supporting skill development and financial literacy, the release said.

Why banking matters to freelancers

Getting paid is one of the sector's practical problems. Pakistani freelancers earned a record $1.76 billion in foreign exchange in FY26, according to State Bank of Pakistan data reported by Profit by Pakistan Today, and Khurram Schehzad, an adviser to the finance minister, named better cross border payment systems among the things that further growth would need.

The deal is a memorandum, which signals intent rather than a binding commercial rollout. The detail of the products will decide whether it changes much for freelancers who currently rely on a mix of platforms, banks and informal channels.

Reported from a PAFLA and HBL press release carried by The Nation and coverage in Profit by Pakistan Today.