INFORMATION TECHNOLOGY LAW

Where digital finance meets the law, Lex Legal Practice is at the centre of it. Ranked Tier 1 by The Legal 500 for Technology Law and Band 1 by Chambers & Partners for Fintech.

Lex Legal Practice (Solicitors & Attorneys) is a Lahore-based law firm built with a singular focus on the laws that govern technology, digital finance and the businesses reshaping Pakistan's economy. Over the past decade, the firm has grown into the most sought-after fintech legal practice in the country, advising on landmark transactions, first-of-their-kind regulatory approvals and the most ambitious companies operating in Pakistan's rapidly evolving digital landscape.

Our clients range from global cryptocurrency exchanges and stablecoin payment platforms to digital banks, electronic money institutions, venture-backed startups and the digital banking arms of Pakistan's leading commercial banks. 

When international technology companies enter Pakistan, and when Pakistani innovators go global, they come to Lex.

In recent years, the firm has advised on a remarkable number of fintech transactions in Pakistan, setting a record in the industry. This includes assisting our clients in obtaining regulatory licenses and approvals from the Pakistan Virtual Assets Regulatory Authority ("PVARA"), State Bank of Pakistan (“SBP”) and Securities and Exchange Commission Pakistan ("SECP"), for various financial operations such as Virtual Assets Services, Digital Banking, Electronic Money Institutions (EMI), Payment System Operators (PSO), Payment Service Providers (PSP), Non-Banking Finance Companies (NBFC), Third Party Service Providers (TPSP), Branchless Banking Agency (BBA) and Super Agency licenses and authorizations. 

"Lex Legal Practice is a leading Pakistan boutique firm with a strong specialization in digital payments law. The team offers regulatory advice and assistance with transactional matters to a wide range of FinTech clients." Chambers & Partners

"Not only did their team understand complex and sophisticated matters but they also always simplified the responses for us as a client. We have never encountered an opinion or work that has been questioned or objected to internally or by regulators. From managing partner to associates, the level of information and quality of responses has always been consistent." Chambers & Partners 

Lex Legal Practice maintains a consistently robust and diverse clientele in the broader information technology industry, which includes Education Technology Companies, Software and Application Developers, Ride-Hailing Service Providers, Game Developers, Digital Logistics Service Providers, and Agriculture Technology Platforms.

Our virtual asset practice covers the full regulatory lifecycle:

• VASP licensing and NOC applications before PVARA, from business model articulation to Fit and Proper documentation.

• Regulatory sandbox structuring for novel token architectures, including asset-referenced tokens and sovereign yield infrastructure.

• AML/CFT compliance architecture built to FATF standards, covering KYC, transaction monitoring, Travel Rule compliance, sanctions screening and proof-of-reserves frameworks.

• Cross-border structuring for global platforms establishing regulated Pakistani operations

• Token classification and product analysis under Pakistan's virtual asset, securities and foreign exchange frameworks

No other firm in Pakistan has advised a comparable portfolio of tier-one global virtual asset businesses on regulated market entry.

Fintech Licensing & Regulation. The firm has advised on more fintech licensing mandates than any other practice in Pakistan, including Digital Banks, Electronic Money Institutions, Payment System Operators, Payment Service Providers, Non-Banking Finance Companies and Branchless Banking approvals. Lex advised on Pakistan's first EMI Pilot Approval issued by the State Bank of Pakistan.

Digital Lending & Embedded Finance. From digital credit cards and BNPL frameworks to BIN sponsorship and card issuing programmes across Pakistan and the MENA region, the firm structures the products defining modern consumer finance, including Shariah-compliant digital lending models.

Corporate, M&A & Venture Capital. The firm advises on acquisitions, Series funding rounds, cross-border holding structures and shareholder arrangements for high-growth technology companies, including some of the largest foreign acquisitions in Pakistan's startup ecosystem.

Payments & Cross-Border Infrastructure. Lex advises global payment providers on cross-border aggregation, settlement rails and intermediation models, helping international money movement platforms operate compliantly in Pakistan.

Technology, Media & Data. The practice extends across software, gaming, animation, e-commerce, logistics platforms, intellectual property and data protection, serving the full spectrum of Pakistan's digital economy.

Policy & Regulatory Engagement. The firm's partners advise the Ministry of Information Technology and Telecommunication and are regularly consulted by Pakistan's principal financial regulators on emerging digital finance issues, placing Lex at the intersection of policy and practice.

Our team regularly provides contractual advice to our tech clients on the following:
 

• Virtual Asset Service Provider (VASP) Licensing
• Software Licensing Agreements
• Software Integration and Implementation Agreements
• Software Customisation Agreements
• Software Support and Maintenance Agreements 
• Cache Services Agreements
• Penetration Testing Agreements
• Mobile Application Terms of Use
• Online Marketplace Terms of Use
• Privacy Policies
• Disclaimers
• Non-Disclosure Agreements
• Service Level Agreements
• Mobile Application Development Agreements 
• Website Development Agreement
• Mobile Wallet Integration Agreements
• Payment Aggregation Agreements
• Logistic Aggregation Agreement
• Payment Gateway Agreements
• Cross-Platform Payment Agreements
• Branchless Banking Super Agency Agreements 
• Branchless Banking Sub Agent Agreements
• User Interface Programming Agreement
• Source Code Escrow Agreement
• Source Code Deposit Agreement
• Branchless Banking Merchant Agreement 
• E-Commerce Platform Agreement
• Online Marketplace Agreement
• Online Merchant Establishment Agreement 
• Middleware Connector Agreement
• Automated Salary Disbursement Agreement
• DPLC Agreements
• Share Purchase Agreement
• Investor Rights Agreement
• Shareholder Agreement
• Share Vesting Agreement

Electronic Money Institution (EMI)

Lex Legal Practice successfully assists in obtaining Pakistan’s first "Commercial EMI Pilot Approval" from the State Bank of Pakistan.