Prime Minister Muhammad Shehbaz Sharif has inaugurated Mashreq Digital Bank, marking the launch of Pakistan’s second digital retail bank and calling it a milestone in the country’s journey toward a cashless, paperless economy. Speaking at the ceremony in Islamabad, the prime minister said that digitalisation was not a choice but a necessity in the modern era, and the establishment of Mashreq Digital Bank would play a crucial role in strengthening financial transparency, promoting economic progress, and reducing human intervention in financial systems.
Highlighting Pakistan’s youthful population as a key driver of digital adoption, the prime minister said that empowering youth with digital financial tools would unlock new opportunities for growth and innovation. He welcomed Mashreq Digital Bank’s entry into the market, noting that the United Arab Emirates has consistently supported Pakistan’s economic and social development, with Emirati investors playing an important role in strengthening bilateral relations.
The event was attended by Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Petroleum Minister Ali Pervaiz Malik, Railways Minister Hanif Abbasi, Maritime Affairs Minister Junaid Anwar, State Bank Governor Jameel Ahmad, and Finance Secretary Imdad Ullah Bosal.
Finance Minister Aurangzeb said the government’s reforms were stabilising the economy and pointed to international credit rating agencies’ positive assessments as evidence of progress. Mashreq Bank Chairman Abdulaziz Al Ghurair said the bank was proud to support Pakistan’s reform agenda and foreign investment goals. CEO Mohammad Humayun Sajjad added that digital payments in Pakistan had grown by 30 percent over the past year, with young consumers leading adoption.
The inauguration concluded with Prime Minister Shehbaz and Al Ghurair formally launching Mashreq Digital Bank’s operations in Pakistan, marking a new chapter in the country’s digital financial landscape.
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