VEON Group, the parent company of Mobilink Bank, has committed USD $15 million in fresh capital to Mobilink Bank. This investment underscores VEON’s confidence in the bank’s growth potential and its vision of transforming Pakistan’s financial landscape through technological innovation and financial inclusion.
Mobilink Bank, a leading digital microfinance bank, will use the funds to expand its offerings in Micro, Small, and Medium Enterprise (MSME) financing, explore Islamic banking solutions, and further accelerate its transition into a technologically advanced, future-ready digital bank.
The capital infusion comes at a critical juncture for Pakistan’s banking industry, following a significant reduction in the State Bank of Pakistan’s (SBP) policy rate, which aims to stimulate economic growth and stability.
“Mobilink Bank will utilize these funds to optimize its operational capabilities, expand its outreach, and introduce cutting-edge digital products and services to its individual and enterprise customers,” the statement read.
Empowering Economic Growth and Financial Inclusion
The timing of global digital operator VEON Group’s investment is especially significant as Pakistan’s economy shows signs of revival. The SBP’s move to lower interest rates has created a favorable environment for financial activity, particularly in the MSME sector, which has been a key focus for Mobilink Bank.
With over 20 million monthly active users and a network of more than 400,000 touchpoints, the bank is well-positioned to reach underserved and unbanked communities across Pakistan.
“This capital infusion of $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,” Chairman Mobilink Bank & CEO Jazz, Aamir Ibrahim said.
Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, also emphasized the investment’s strategic importance saying that the timing of this strategic investment is fitting as Pakistan’s economy is in a revival phase, and the banking industry anticipates enhanced activity in the wake of a significant reduction in policy rates by the SBP.
“This investment will be pivotal in further advancing our strategic goals, promoting MSME growth, expanding into Islamic banking, and enhancing our digital capabilities to strengthen our position as a future-ready digital bank,” he said.
Pakistan’s adviser to Finance Minister Khurram Schehzad welcomed VEON Group’s investment in a post on X.
Vision for the future
VEON’s support reflects its broader commitment to advancing financial inclusion, social mobility, and technological innovation. As part of the VEON Group, which serves nearly 160 million customers across six dynamic markets, Mobilink Bank is primed to expand its digital services, helping to foster sustainable economic development in Pakistan.
With a strong focus on driving socio-economic progress and providing accessible financial solutions, Mobilink Bank aims to continue playing a pivotal role in Pakistan’s financial ecosystem. This investment will pave the way for more inclusive financial services, empowering individuals and businesses to thrive in a digital-first world.