Global digital operator VEON Group has doubled down on its commitment to Pakistan’s digital banking future with a fresh $20 million investment in Mobilink Bank, aiming to accelerate the expansion of digital and Islamic banking across the country. This latest capital injection builds on a $15 million investment made in early 2025, demonstrating growing confidence in the bank’s growth and potential.
Mobilink Bank, a subsidiary of VEON Group, is part of a broader digital financial ecosystem that includes JazzCash, one of Pakistan’s largest mobile financial services platforms with millions of customers and a nationwide agent network. Together, these units are helping reshape how Pakistanis access financial services — especially in underserved communities where traditional banking has limited reach.
The new funds will be used to scale the bank’s micro, small and medium enterprise (MSME) financing portfolio and to expand its Shariah-compliant Islamic banking offerings. This focus on Islamic banking reflects strong local demand, following Mobilink Bank’s launch of dedicated Islamic banking services in late 2025 after receiving its licence from the State Bank of Pakistan. The bank has since opened its first Islamic banking branch in Karachi and plans further expansion nationwide.
Mobilink Bank’s leadership says the investment will help more entrepreneurs and small business owners formalise their financial activities, move away from informal cash systems, and access regulated credit — a key factor in building economic resilience. The bank’s products also include women-centric financial services and green financing initiatives, which aim to support long-term growth while addressing climate and economic challenges.
VEON’s investment comes at a time when Pakistan’s digital financial sector is gaining momentum. With rising smartphone use and mobile internet penetration, more people are turning to online financial solutions for payments, savings, and credit. JazzCash itself has processed transaction volumes in the trillions of rupees, underlining the scale and impact of fintech growth in Pakistan.
Aamir Ibrahim, VEON Group Executive Committee Member and Chairman of Mobilink Bank, said the continuous flow of capital reflects long-term confidence in Pakistan’s digital finance ecosystem. He reaffirmed that the investment strengthens both infrastructure and strategic execution, enabling Mobilink Bank and JazzCash to deliver more inclusive, technology-driven financial solutions across the country.
With this substantial backing, Mobilink Bank is poised to play a bigger role in Pakistan’s financial transformation, supporting small businesses, advancing financial inclusion, and cementing the country’s position in the rapidly evolving digital economy.
