Astrik, in partnership with Grant Thornton, has signed an engagement with JS Bank to develop and implement an IFRS 9–compliant automation system for Expected Credit Loss (ECL) and Effective Interest Rate (EIR) reporting. The signing ceremony, held at JS Bank’s head office in Karachi, marks a significant step in the ongoing digital transformation of Pakistan’s financial sector.
The collaboration will combine Astrik’s technological innovation with Grant Thornton’s technical and regulatory expertise to deliver a robust, enterprise-grade platform. The system will automate JS Bank’s ECL and EIR computation and reporting processes, integrating multiple modules into a unified, auditable, and secure framework, replacing manual spreadsheets with a fully automated and compliant solution.
In attendance were Basir Shamsie, President & CEO JS Bank; Adeel Ehtesham, CFO JS Bank; Noman Soomro, Chief of Staff JS Bank; Khurram Jameel, Partner Grant Thornton; and Shahnawaz Abro, Founder & CEO Astrik, along with their respective senior management teams. “This system will enhance the accuracy of our IFRS 9 reporting while strengthening our overall risk management and data-driven decision-making capabilities,” said Basir Shamsie, President & CEO JS Bank.
Khurram Jameel, Partner at Grant Thornton, added, “Our partnership with Astrik and JS Bank demonstrates how collaboration between financial and technology experts can redefine compliance automation in the banking industry.” Shahnawaz Abro, Founder & CEO of Astrik, stated, “Astrik’s mission is to bridge technology and compliance through intelligent automation. This project showcases how we help institutions achieve not just regulatory efficiency, but analytical depth and transparency.”
The new system forms the cornerstone of JS Bank’s credit risk infrastructure, offering real-time computation, configurable scenario testing, and a complete audit trail of data and model assumptions. Designed for scalability, governance, and international alignment, the platform supports both internal oversight and regulatory readiness.
This initiative underscores Astrik’s expanding role as a technology enabler in Pakistan’s financial ecosystem and highlights the growing importance of intelligent automation in enhancing compliance, efficiency, and strategic decision-making across the banking industry.
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