Page 70 - CMA Journal (July-August 2025)

Focus Section

Investments in digital transformation are expected to (diagnostics), and governance (tax analytics, subsidy
surpass USD 74 billion by 2026, while PwC estimates AI tracking) to build credibility and encourage
could add USD 320 billion to the region’s GDP by 2030. adoption.
Growth is supported by sovereign AI programs, cloud 5) Develop Specialized Data and AI Training
adoption by banks and telecoms, and large-scale Programs: MENA initiatives, such as UAE’s AI
initiatives such as Dubai’s “Dubai Pulse,” which bring University and Egypt’s Applied Innovation Hubs,
together public and private investment. At the same supply skilled analysts to the market. Pakistan could
time, regulatory frameworks are advancing, with upgrade DigiSkills and NICs into specialized Data
countries including the UAE, Saudi Arabia, Egypt, and and AI Academies, training freelancers and
Bahrain strengthening data protection and governance enterprise-level professionals in data engineering,
laws to balance privacy with innovation. machine learning, and cloud analytics.
Competition is intensifying as banks, telecoms, and Conclusion
payment firms reinvent themselves as data-driven
enterprises, while specialized AI players such as G42 and Fintech and data analytics offer transformative
Bayanat expand into healthcare, geospatial, and opportunities for Pakistan, but their success depends on
government services. In North Africa, companies like clear regulation, coordinated governance, and
Morocco’s HPS are scaling regionally by exporting collaboration across the ecosystem. Despite funding
analytics and payment-processing solutions. fluctuations and regulatory gaps, Pakistan has shown
strong progress in financial inclusion, digital wallets, and
Lessons for Pakistan from MENA’s Data AI-driven startups.
and AI Experience MENA’s experience demonstrates that structured
sandboxes, national data platforms, and sector-focused
1) Set Up a National Data and AI Authority: The UAE
analytics programs can accelerate adoption and reduce
(National Data Strategy) and Bahrain (PDPL and
systemic risks. For Pakistan, priorities include creating a
open-banking sandbox) have unified frameworks
graduated fintech licensing framework, establishing a
that align regulators, public agencies, and private
National Data and AI Authority, and developing applied
players. Pakistan could combine NITB, NCAI, and
analytics pilots in agriculture, healthcare, and public
NCBC efforts under a single National Data and AI
finance.
Authority to ensure consistent standards for privacy,
interoperability, and data use. By combining local innovation with global best practices,
Pakistan can move from fragmented progress to a
2) Build National Data Platforms and Marketplaces:
structured digital economy strategy, enhancing
MENA governments have invested in national data
resilience, boosting investor confidence, and fostering
exchanges—Dubai Pulse (UAE) integrates
inclusive growth powered by fintech and data analytics.
government and private data for urban planning,
while BENEFIT in Bahrain provides shared analytics References
for payments and digital ID. Pakistan could create a https://invest2innovate.com/the-fintech-landscape-in-pakistan-progress-and-
National Data Bank with an API marketplace to allow potential/
https://profit.pakistantoday.com.pk/2025/04/20/raast-processes-892-million-tr
startups, fintechs, and universities to develop ansactions-surpassing-rs-20-trillion/
products on secure, shared datasets. https://www.statista.com/outlook/tmo/software/enterprise-software/business
-intelligence-software/pakistan
3) Introduce an Open-Data Policy: Countries like https://www.mckinsey.com/industries/financial-services/our-insights/banking-
Morocco and the UAE have made thousands of matters/mena-fintechs-ascent-growth-investment-and-the-path-forward
datasets machine-readable through open portals, https://www.mordorintelligence.com/industry-reports/mena-fintech-market
https://fintechnews.ae/26047/fintech/mena-and-turkey-see-booming-fintech-
supporting startups and SMEs. Pakistan could sector-with-26-soonicorns/#:~:text=Fintech%20adoption%20surges&text=In%
implement a mandatory open-data policy for 202023%2C%20penetration%20rates%20of,fintech%20leaders%20in%20the
%20region.
ministries and SOEs, making anonymized datasets
https://www.sbp.org.pk/press/2025/Pr-25-Jun-2025.pdf
publicly available to fuel analytics-driven https://www.facebook.com/photo/?fbid=1124777463011994&set=a.64125370
entrepreneurship. 1364375
https://www.dawn.com/news/1913238
4) Launch Sector-Specific Pilot Projects: In Morocco, https://www.statista.com/outlook/tmo/software/enterprise-software/business
HPS/SWAM used transaction data to generate -intelligence-software/pakistan
merchant risk and behavior insights, while the UAE https://www.statista.com/outlook/tmo/cybersecurity/cyber-solutions/cloud-se
curity/pakistan
applies analytics in healthcare (genomics), energy https://www.statista.com/outlook/tmo/artificial-intelligence/pakistan
(smart grids), and logistics (ports). Pakistan could run (This article is prepared by Maiyra Ahmed, Assistant Director, R&P,
pilots in agriculture (crop forecasting), health under the guidance of Shahid Anwar, Director R&P)

68 ICMA’s Chartered Management Accountant, Jul-Aug 2025