Global digital operator VEON Group has announced a fresh investment of 20 million dollars into Mobilink Bank, reinforcing its long-term strategy to strengthen digital financial services and expand Islamic banking in Pakistan. The capital injection reflects VEON’s continued confidence in the bank’s performance and growth outlook, particularly as Pakistan’s demand for regulated, technology-enabled financial services continues to rise among individuals and small businesses.
This latest investment follows a 15 million dollar capital infusion made by VEON in January 2025, underscoring sustained backing for Mobilink Bank’s evolving business model. Mobilink Bank operates as a subsidiary of VEON Group and is closely integrated with JazzCash, one of Pakistan’s largest digital financial platforms. Together, the ecosystem supports millions of users by combining mobile connectivity with digital payments, savings, lending, and branchless banking services. VEON Group, which is listed on Nasdaq under the ticker VEON, operates a global digital network serving more than 150 million connectivity customers and around 140 million monthly active digital users across five countries, accounting for over six percent of the global population, according to the company’s press release.
The newly announced capital will primarily be used to scale Mobilink Bank’s micro, small, and medium enterprise financing portfolio, with a strong emphasis on Shariah-compliant products. Islamic banking remains a key growth area in Pakistan’s financial sector, driven by rising consumer awareness and regulatory encouragement. Mobilink Bank plans to enhance its digital Islamic banking offerings to help small businesses formalize cash flows, gain access to regulated credit, and transition away from informal financial practices. Alongside MSME lending, the investment will support the bank’s broader ambition to accelerate its transformation into a digitally native, technology-led institution, capable of delivering seamless banking services through mobile-first platforms.
Beyond business expansion, the investment is also aimed at improving access to regulated financial services for underserved segments of society. Mobilink Bank has been positioning itself as a strong advocate for financial inclusion, particularly for women entrepreneurs and small businesses operating outside traditional banking channels. Its growing deposit base and targeted lending programs are enabling entrepreneurs to move toward formal banking, improve financial resilience, and better manage economic uncertainty. The bank’s women-focused financial products and green financing initiatives are also playing a role in supporting inclusive and sustainable growth, especially as Pakistan faces ongoing economic pressures and climate-related challenges.
Commenting on the development, Aamir Ibrahim, VEON Group Executive Committee Member and Chairman of Mobilink Bank, said the continued investment highlights VEON’s long-term commitment to Pakistan and its confidence in the country’s digital financial services transformation. He noted that the funding will strengthen both Mobilink Bank and JazzCash by enabling investment in robust technology infrastructure and supporting strategic priorities focused on inclusive digital banking. Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, added that the capital will accelerate the expansion of Shariah-compliant banking services and reinforce the bank’s mission to deliver technology-enabled solutions that empower entrepreneurs, particularly women and underserved communities, across Pakistan.
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