Global digital operator VEON Group has reaffirmed its confidence in the growth potential of Pakistan’s microfinance sector and Mobilink Bank by investing USD 15 million in fresh capital to drive the bank’s strategic ambitions. This significant investment underscores VEON’s commitment to advancing digital innovation and fostering sustainable economic development.
The capital injection will enable Mobilink Bank to expand its offerings in Micro, Small, and Medium Enterprise (MSME) financing, explore Islamic banking, and accelerate its ongoing transition into a technologically advanced, future-ready digital bank. As Pakistan’s leading digital microfinance institution, Mobilink Bank remains dedicated to fostering financial inclusion and addressing the evolving needs of its diverse customer base.
This investment comes at a pivotal moment for the banking industry, as the State Bank of Pakistan (SBP) has significantly lowered its policy rate to stimulate economic growth and stability. Mobilink Bank plans to leverage these funds to optimize operational capabilities, broaden outreach, and introduce innovative digital products and services for individual and enterprise customers.
With a strong emphasis on underserved and unbanked segments, Mobilink Bank aims to catalyze economic activity by providing accessible financial solutions that fuel socio-economic development. VEON’s strategic vision aligns with Mobilink Bank’s mission to play a key role in Pakistan’s financial ecosystem.
“This capital infusion of USD 15 million by VEON underscores their steadfast confidence in Mobilink Bank’s vision and trajectory. It empowers us to further expand our portfolio, driving growth in MSME financing, Islamic banking, and technology-driven operations,” said Aamir Ibrahim, Chairman Mobilink Bank & CEO Jazz.
“Together, we are fostering digital readiness and financial inclusion, ensuring that Mobilink Bank continues to shape a progressive and inclusive financial landscape in Pakistan.”
Interim CEO Mobilink Bank, Haaris Mahmood Chaudhary, highlighted the importance of this investment in advancing the bank’s strategic goals.
“VEON’s investment signifies the solid confidence our parent company places in Mobilink Bank’s capability to lead the fintech revolution in Pakistan. The timing of this strategic investment is fitting, as Pakistan’s economy enters a revival phase, and the banking industry anticipates enhanced activity following the SBP’s significant policy rate reduction.”
Mobilink Bank, with over 20 million monthly active users and a vast network of more than 400,000 touchpoints, champions inclusivity, technological innovation, and customer-centricity. The bank’s commitment to advancing financial inclusion and social mobility remains steadfast, reinforced by this transformative investment.
VEON Group, a global digital operator serving nearly 160 million customers across six dynamic markets, continues to demonstrate its dedication to driving technological advancements and empowering communities. Mobilink Bank’s enhanced capabilities, fueled by VEON’s investment, are set to redefine Pakistan’s financial landscape while promoting socio-economic progress.
