Lahore, 16th FEB, 2016: i8 Global, Inov8 Limited’s parent company and the region’s leading mobile payments company, is proud to announce the addition of two new members to its newly formed Advisory Board: Mr. Yaseen Anwar, who previously served as Governor State Bank of Pakistan and Lt. General (R) Sabahat Husain, ex-Chairman Pakistan Ordinance Factories. Both gentlemen bring valuable experience to i8 Global as it sets out to expand its business in Pakistan and globally.
Yaseen Anwar, a graduate of the Wharton School at the University of Pennsylvania, served as Governor of the State Bank of Pakistan till January 2014. He is currently Senior Advisor to the Industrial and Commercial Bank of China (ICBC) Singapore, the largest bank in the world, and is also on the Advisory Board of the prestigious International Monetary Institute (IMI) of Renmin University, Beijing. Mr. Anwar has also served in other prestigious institutions such as the Financial Stability Board (FSB) of Bank for International Settlements (BIS), JP Morgan-Chase, Bank of America and Merrill Lynch. As Governor State Bank, his vision of implementing branchless banking and other financial inclusion policies helped create the market in which Inov8 is offering services today.
On this occasion, Mr. Yaseen Anwar stated, “Being a fellow Wharton alum, I believe that the founders of Inov8 have the vision and talent to create global impact in the areas of financial inclusion via mobile payments technology. Pakistan has some of the best developed regulations in the world for financial inclusion and with the right guidance there is no barrier to technology emanating from this market which can serve the needs of global markets.”
Lt. General (R) Sabahat Husain has had a distinguished career in the Pakistan Army, where amongst many prestigious positions, he has commanded a corps and served as Chairman Pakistan Ordinance Factories, one of the largest industrial complexes in the country. He has also served as the Chairman Wah Noble Group of companies and Chairman Punjab Public Service Commission. Lt. General (R) Sabahat is currently a member of the Advisory Committee of Ministry of Planning, Development and Reforms of Government of Pakistan and member of Governor KPK’s FATA Reforms Commission. He is currently serving as the Chairman of GS Global Pvt. Ltd. and is also a member of a global organization called ACMP Global (Association of Change Management Professionals). General Sabahat also provides his expertise to a think tank working for global and regional peace.
General Sabahat shared, “Inov8, where imagination is limitless, is a trendsetter in undertaking challenging projects. Recent disbursement of funds to IDP’s of FATA and KPK is a case in point, where large scale transactions were made in a time constrained environment. With a dynamic and enterprising leadership and professionally strong team, the company is destined to go many miles.”
While welcoming the new advisory board members, Hasnain Sheikh, Co-CEO i8 Global and Inov8 Limited, stated, “We have had a good run over the last three years in which we have gained a strong market share in Pakistan and had a great funding round and valuation of over $100m. With the guidance of the new board of advisors, we seek to ensure that we make larger strides in the region.”
About Inov8 Limited
Inov8 Limited is the region’s fastest growing digital payments company and has grown to become a leading partner to banks and mobile operators, both locally and internationally. The company recently secured Series A Funding of $5.4 million and achieved a valuation in excess of $100 million. H.H. Sheikh Nahayan Mabarak Al Nahayan, Minister of Culture, Youth and Social Development of U.A.E., is the principal investor for Inov8 in the Series A funding. Inov8 is the dominant player in the Pakistan market offering next generation products designed to address all facets of the digital financial services and commerce value chains.
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