By Justin Varghese
Copyright gulfnews
Dubai: UAE-based Mashreq Bank has officially launched its full-service digital retail bank in Pakistan, marking the first international deployment of its award-winning digital banking platform outside the UAE. The launch event in Islamabad was attended by Pakistan’s Prime Minister Muhammad Shehbaz Sharif, alongside senior government officials, regulators, and Mashreq’s global leadership team.The bank, Mashreq Bank Pakistan, will operate as a fully Shariah-compliant digital retail bank offering both individual and SME banking solutions. The services, including Mashreq NEO for individuals and Mashreq NEOBiz for businesses, promise 24/7 mobile-first, paperless banking, zero-fee ATM withdrawals, AI-driven risk controls, and free debit cards. The platform also facilitates account opening for overseas Pakistanis in the UAE, enabling seamless remittances..Mashreq posts Dh6.2b in H1 income as lending, digital gains rise.Strategic investmentMashreq has committed $100 million by 2025 to support its Pakistan operations, including its Global Capability Centre (Mashreq Global Network, MGN), which employs over 415 professionals in technology, compliance, credit, HR, and customer experience. The workforce is expected to double in the coming years, strengthening Pakistan’s position as a hub for digital financial innovation.Abdul Aziz Al Ghurair, Mashreq Chairman, emphasized the long-standing UAE-Pakistan relationship and said, “Pakistan is a story of resilience and sustained ambition, and we’re here because the future is promising. We want to help build it.”Ahmed Abdelaal, Group CEO, added that Pakistan’s progressive regulatory framework for digital banking, growing tech adoption, and youthful population make it a strategic market for Mashreq’s expansion. “The launch reflects our commitment to long-term investment, financial innovation, and inclusive growth,” he said..Mashreq launches NEO PLUS Saver Account with UAE’s most rewarding savings interest rate.Growth potentialFernando Morillo, Group Head of Retail Banking, said the Pakistan launch represents a key step in Mashreq’s strategy to transform retail banking in high-growth international markets. Muhammad Hamayun Sajjad, CEO of Mashreq Bank Pakistan, noted the bank aims to create world-class digital banking experiences, foster local talent, and contribute to Pakistan’s fintech ecosystem.The new digital bank is expected to drive financial inclusion, support SMEs, enhance cross-border remittances, and promote Pakistan’s integration into a digitally connected global financial system.
