VEON has announced that Mobilink Microfinance Bank, its financial services subsidiary, has rolled out Islamic banking operations across Pakistan.
Through this move, VEON’s Mobilink Microfinance Bank aims to facilitate access to Shariah-compliant financial services, with the launch coming as a response to scaling customer demand for such solutions across the region.
Expanding financial choice and inclusion
Mobilink Microfinance Bank rolled out its first dedicated Islamic banking branch in December 2025 in Karachi, Pakistan’s economic hub. Later during the same month, the financial institution intends to launch a second Islamic banking branch in Peshawar. Following this, a phased rollout of such services is planned in additional locations nationwide.
Commencing these operations comes after Mobilink Microfinance Bank obtained its Islamic Banking licence from the State Bank of Pakistan earlier in 2025. The receipt of the approval from the State Bank of Pakistan enabled the bank to offer responsible, Shariah-compliant financial services to underserved communities in the region.
Introducing Islamic banking in Pakistan assists the bank’s strategy to expand financial choice and inclusion for individuals, micro-entrepreneurs, and small businesses across the region. Mobilink Microfinance Bank aims to provide Shariah-compliant deposit and financing products, developed to meet financial needs and facilitate the growth of businesses’ operations.
Talking about this milestone, Aamir Ibrahim, Chairman of the Mobilink Bank Supervisory Board, mentioned that the launch of Islamic Banking at Mobilink Bank reflects the financial institution’s commitment to inclusive, customer-centric financial services. Additionally, considering the continued expansion of Islamic banking in Pakistan, Mobilink Microfinance Bank intends to address these demands through solutions that serve individuals and businesses.
Adding to this, Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, said that delivering transparent, faith-aligned products through physical branches and digital channels enables the bank to extend access to formal financial services across Pakistan.
Pakistan’s Islamic banking landscape
Recent data from the State Bank of Pakistan’s Islamic Banking Bulletin showcases that such assets reached nearly USD 44 billion for the period ending September 2025. This accounted for 21.6% of the total banking sector assets. Additionally, Islamic banking deposits accounted for 26.5% of the total deposits nationwide.
