Mashreq has officially announced the commercial launch of its full-service digital retail bank in Pakistan, Mashreq Bank Pakistan.
Following this announcement, the initiative represents the first full-scale international deployment of Mashreq’s digital banking platform outside the region of the UAE, as well as an important development in Pakistan’s digital banking journey.
Mashreq Bank Pakistan aims to offer secure and optimised digital banking solutions, built to be fully Shariah-compliant. In addition, the financial institution will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on Mashreq’s launch of Mashreq Bank Pakistan
According to the official press release, the operations are set to be powered by improved technology, a safe customer experience, and a strong commitment to responsible banking. With a strategy that extends over the next 5-10 years, Mashreq aims to accelerate the development of the Pakistani banking sector, as well as drive digital transformation, financial inclusion, foster growth and job creation, as well as promote sustainable development.
Furthermore, Mashreq aims to introduce its key propositions tailored for Pakistanis, which will include Mashreq NEO for individuals and Mashreq NEOBiz for SMEs, developed in order to deliver a 24/7, paperless, and mobile-first banking experience. The services will enable customers to benefit from secure onboarding, zero-fee ATM withdrawals, AI-driven risk controls, and free debit cards, optimising the experience of digital banking in Pakistan. At the same time, Mashreq will also enable Overseas Pakistanis in the UAE to open bank accounts in Pakistan and remit funds efficiently, further strengthening cross-border connectivity. Through its operations, Mashreq is expected to accelerate the country’s transition to a digitally inclusive, secure, and globally connected financial ecosystem.
