Astrik, Grant Thornton, and JS Bank Join Forces to Automate IFRS 9 Compliance through Intelligent Technology

In a landmark step toward financial digital transformation, Astrik, in partnership with Grant Thornton Pakistan, has officially signed an agreement with JS Bank to develop and implement a comprehensive IFRS 9–compliant Expected Credit Loss (ECL) and Effective Interest Rate (EIR) automation system.

The signing ceremony took place at JS Bank’s head office in Karachi and was attended by top leadership, including Basir Shamsie (President & CEO, JS Bank), Adeel Ehtesham (CFO, JS Bank), Noman A. Soomro (Chief of Staff, JS Bank), Khurram Jameel (Partner, Grant Thornton), and Shahnawaz Abro (Founder & CEO, Astrik) along with their respective teams.

This collaboration marks a powerful fusion of Astrik’s technological innovation and Grant Thornton’s financial expertise, designed to deliver an enterprise-grade automation solution that transforms JS Bank’s IFRS 9 ECL and EIR computation processes. The new system replaces manual spreadsheet-driven workflows with a secure, automated, and regulatory-compliant platform, ensuring enhanced accuracy, transparency, and governance.

Speaking at the event, Basir Shamsie, President & CEO of JS Bank, shared,

“This system will enhance the accuracy of our IFRS 9 reporting while strengthening our overall risk management and data-driven decision-making capabilities.”

Khurram Jameel, Partner at Grant Thornton, emphasized,

“Our partnership with Astrik and JS Bank demonstrates how strategic collaboration between financial and technology experts can set new standards for compliance automation in the finance industry.”

Adding to this, Shahnawaz Abro, Founder & CEO of Astrik, noted,

“Astrik’s mission has always been to bridge technology and compliance through intelligent automation. This initiative showcases how we’re enabling financial institutions to achieve regulatory efficiency, analytical depth, and governance transparency.”

The ECL & EIR automation system will serve as the cornerstone of JS Bank’s credit risk infrastructure — enabling real-time computation, configurable scenario testing, and complete audit trails for model assumptions and data. Built with scalability and transparency at its core, the solution aligns seamlessly with international best practices, ensuring both internal governance and external regulatory readiness.

This engagement reinforces Astrik’s growing role as a trusted technology enabler for Pakistan’s financial institutions and underscores its commitment to driving intelligent automation across the country’s banking landscape.