ABS & Co has examined the enactment of the Virtual Assets Act, 2026 (the “Act” or “VA Act 2026”) and the subsequent operationalisation of the Pakistan Virtual Asset Regulatory Authority (“PVARA”) mark the most consequential structural change to Pakistan’s financial-services landscape in over a decade. The Act applies to all Virtual Asset Service Providers that carry on, or hold themselves out as carrying on a Virtual Asset Service in or from Pakistan, as well as to any Issuer that offers, originates or distributes, on its own behalf, a Virtual Asset in or from Pakistan.

ABS & Co is advising Yango on the structuring, launch, and regulatory assessment of its proposed Buy Now, Pay Later and fintech product offerings in Pakistan. The mandate includes a comprehensive review of the applicability of the non-banking financial company regulatory regime, digital lending and consumer finance laws, payment systems regulations, foreign exchange considerations, and consumer protection requirements.

In this article, we examine the Punjab Labour Code, 2026 (the “Code”), a landmark legislative reform enacted to consolidate and modernise Punjab’s labour and employment framework. ABS & Co has reviewed the Code and its implications for businesses operating within the province, particularly in relation to workforce structuring, employment documentation, workplace governance, and compliance obligations arising from the transition to a unified and rights-based employment regime.

ABS & Co is advising on a significant cross-border technology engagement relating to the entry of an international technology-focused enterprise into Pakistan’s Special Technology Zone landscape within Silicon Village, Capital Smart City, Islamabad. The engagement involves the structuring and negotiation of a comprehensive partnership framework between an international group and Future Developments Holdings (Private) Limited through its designated project vehicle responsible for the development, management, and operation of Silicon Village.

ABS & Co has secured a significant appellate victory before the Lahore High Court, successfully setting aside an order that referred disputes exceeding PKR 2 billion to a composite arbitration proceeding across multiple contracts.

In this alert, we examine the allocation of financial risk and the viability of commercial concession agreements for private operators within Gulf aviation hubs in the context of the 2026 Gulf War. Disruptions to transit traffic, retail operations, and passenger volumes during periods of hostilities expose severe structural weaknesses in standard force majeure clauses, insurance covers, and sovereign safety nets that are often calibrated for peacetime conditions. These issues arise across airport retail environments, duty-free concessions, maintenance services, and hospitality frameworks, where private parties rely on fixed-rent contracts and standard insurance provisions that may not adequately respond to conflict-driven losses.

ABS & Co advised on PKR 4 billion consumer loan portfolio due diligence for SME Bank–NBP asset transfer, covering enforceability of securities, NPL risk, and banking regulatory compliance in Pakistan.

ABS & Co has continued its longstanding engagement with a leading microfinance institution during its strategic transition into a digital retail bank. This transition required a comprehensive realignment of the bank’s documentation, governance structure, and regulatory posture to comply with an entirely new licensing and operational framework.

ABS & Co has successfully advised on the development and structuring of a nano-lending product designed for deployment through a digital platform. The mandate involved the creation of a high-frequency, low-ticket credit product featuring tiered APRs linked to loan tenor and credit limits. The engagement was critical in balancing risk-based pricing with consumer protection standards and regulatory compliance within Pakistan’s rapidly evolving digital lending landscape.

ABS & Co advised Habib Rafiq Engineering (Private) Limited (“HRL”), in relation to a landmark Joint Venture Agreement executed with the Prime Institute of Health Sciences (“PIHS”). This strategic collaboration establishes a comprehensive framework for the operation of advanced healthcare facilities and the phased rollout of allied health sciences education within Capital Smart City.

ABS & Co has successfully advised on a PKR 100 million Shariah-compliant Murabaha financing facility for the procurement of raw materials. The transaction was meticulously structured as an asset-backed Islamic working capital facility, tailored to meet specific commercial requirements while ensuring full adherence to Islamic finance principles.

ABS & Co has advised on the banking and financial aspects of a proposed “Gold Bank” model in Pakistan. The mandate involved the structuring of a framework for the acceptance of gold as an investable asset, the issuance of investment instruments, profit-sharing return mechanisms, and gold-backed lending arrangements.

ABS & Co has successfully advised on the development and structuring of a Shariah-compliant “Musawammah” product for digital Buy Now, Pay Later (BNPL) lending. This mandate was designed for deployment through fintech and digital platforms, requiring a sophisticated reconciliation of Islamic financing principles with modern digital lending mechanics. The engagement was critical in ensuring alignment with SECP regulatory frameworks, consumer protection standards, and evolving BNPL regulations in Pakistan.

In this alert, we examine the allocation of risk in commercial contracts and marine insurance frameworks in the context of armed conflict affecting Gulf trade routes. Disruptions to shipping, port operations, and cargo transit during periods of hostilities expose structural weaknesses in force majeure clauses, war risk cover, and liability regimes that are often drafted for peacetime conditions. These issues arise across shipping and logistics arrangements, terminal operations, freight forwarding structures, and cross-border trade contracts, where parties rely on standard form provisions and insurance clauses that may not adequately respond to conflict-driven losses.

ABS & Co advised a leading global technology company on a strategic assessment of Pakistan’s political, regulatory, and geopolitical landscape in support of its internal government relations and long-term investment planning functions.

ABS & Co advised Habib Rafiq Engineering (Private) Limited (“HRL”) in relation to a proposed large-scale development initiative and international project within the Republic of Uzbekistan. Acting as legal counsel, our role required the structuring of a robust Letter of Intent (LOI) to facilitate the participation of a group of Korean companies within an international consortium to be led and coordinated by HRL.