ISLAMABAD – Sept 2025: Prime Minister Shehbaz Sharif launched Mashreq Digital Retail Bank in Islamabad, the country’s second all-digital bank. The move is being welcomed as a landmark towards transforming the economy of the country and moving towards a cashless, paperless, and transparent economic system.
A Big Step Towards Digital Pakistan
PM Shehbaz Sharif stated that digitalization is the demand of the hour, adding that lesser human intervention in banking activities will ensure efficiency, transparency, and long-term growth.
He pointed out that Pakistan’s youth — the nation’s largest group — are its biggest asset and will be the most benefited from innovative digital banking services.
UAE Partnership & Global Vision
Guests of the event included:
- Abdul Aziz Al Ghurair, Chairman, Mashreq
- Ahmed Abdelaal, Group CEO, Mashreq
- Aurangzeb Khan, Pakistan Finance Minister
- Jameel Ahmad, Governor, State Bank of Pakistan
The UAE delegation lauded Pakistan as a “strategic partner”, citing trade, remittances, and common regional interests. Mashreq leaders stated that Pakistan was picked as the initial market for a full-fledged digital retail bank because it has a vibrant youth, increasing fintech adoption, and forward-looking regulations.
What Mashreq Bank Will Provide
Mashreq’s offerings will be:
- Mashreq NEO (for individuals)
- Mashreq NEOBiz (for SMEs)
- 24/7 mobile-first banking
- Paperless onboarding
- Free debit cards
- Zero-fee ATM withdrawals
- AI-powered security
Overseas Pakistanis in the UAE will also be able to open an account and send remittances easily, enhancing cross-border financial interlinkages.
Impact on Pakistan’s Economy
Finance Minister Aurangzeb Khan stated digital banking will:
- Increase remittances (Pakistan’s lifeline)
- Strengthen SMEs and agriculture
- Enhance job creation in fintech
- Boost global confidence in Pakistan’s economy
Mashreq leaders further stated that their aim is to re-shape Pakistan’s financial environment, making it inclusive, transparent, and innovative.
✅ Key Takeaway
With the launch of Mashreq Digital Bank, Pakistan took a huge leap towards digital finance. Experts think this will:
- Empower youth
- Attract foreign investment
- Increase financial inclusion
- Put Pakistan on the map as a regional fintech hub
The launch marks a new chapter of banking in which Pakistanis at home and abroad will be able to enjoy hassle-free, tech-enabled financial services.
