In a momentous development set to reshape Pakistan’s technological landscape, Huawei Technologies Ltd and Khazana Enterprise have collaborated to introduce Pakistan’s inaugural hyper-scaler financial cloud system.
This milestone was formally announced during a significant launch ceremony graced by prominent figures from the financial industry, government, and business sectors of Pakistan.
What is this technology?
Hyperscale cloud is the technology platform that powers the digital transformation of the financial services industry. It is an advanced and massive-scale cloud infrastructure specifically designed to cater to the financial industry’s complex and data-intensive requirements.
Pakistan’s first hyper-scaler financial cloud system
The unveiling of the First National In-Country Cloud marks a transformative leap not only for Pakistan’s ICT industry but for the entire economy. Until now, Pakistan has been deprived of millions of dollars due to its reliance on accessing Cloud Services from overseas. With this innovative initiative, that financial drain will be a thing of the past, as local entities can now harness the power of cloud services right within the country, benefiting both local businesses and the national exchequer.
“Pakistan is denied millions of dollars for access to Cloud Services. This initiative paves the way for entities to opt for a solution in Pakistan that benefits local businesses and the exchequer” according to the official statement.
Nadeem Hussain, the Executive Chairman of Planet N Group, congratulated Huawei Management and Khazana team for this successful cloud launch. “If you want digital Pakistan, then you have tons of data and this data needs to be stored somewhere either in physical storage or on a cloud and the world has demonstrated the benefits of cloud over physical data storage i.e. flexibility, agility, cost cyber security.” He said that Huawei Cloud is the answer to all needs being one of the top cloud service providers.
Bob Din, Chairman Khazana, also commended the tech industry of Pakistan and praised the proactive regulatory environment that has fostered the development of cloud infrastructure in the country.
Digital revolution
Shahzad Rasheed, CEO of Huawei Cloud Pakistan, stressed the significance of the upcoming digital revolution and the need for digital divers like AI, IoT, and Machine Learning, which can only thrive on a reliable cloud infrastructure. Huawei Cloud, being one of the three hyper-scaler federated clouds available in Pakistan, and its provision of software services and solutions for digital banks with just a single click, set it apart from the competition, he said.
Speaking at the event, Akif Saeed, Chairman of SECP, acknowledged the importance of data protection and hailed the partnership between Huawei and Khazana for addressing concerns related to data sovereignty and security.
Sima Kamil, Deputy Governor of the State Bank of Pakistan, praised the launch of Huawei Cloud, stating that it aligns with SBP’s vision of formulating a robust regulatory framework for Cloud Services. She listed five main reasons for SBP’s approval, including data security, data sovereignty, improved efficiency, economic growth, and cost optimization.
Huawei Cloud
Huawei Cloud’s global presence, with deployments in 29 regions worldwide, has made it the preferred choice for customers in various industries, particularly finance and manufacturing, seeking to migrate to the cloud. As a leading global provider of ICT infrastructure and smart devices, Huawei’s commitment to digital connectivity resonates with its 207,000 employees operating in over 170 countries and regions, serving billions of people worldwide.
In Pakistan, Khazana Enterprise, dedicated to providing innovative products and services, envisions revolutionizing the financial landscape. With their National Cloud services, Khazana aims to establish a secure infrastructure to store, manage, and analyze data, fostering operational efficiency and innovation across sectors. Their customer-centric approach includes establishing physical service centers and dedicated support channels, prioritizing tailored assistance throughout the financial journey.
The launch event culminated in several memorandums of understanding (MOUs) with prominent fintech companies like Raqami Islamic Digital Bank, HengShan, and TitliS Technology, further solidifying the collaborative spirit to drive Pakistan’s digital ecosystem forward.