The State Bank of Pakistan granted Mashreq Pakistan a restricted licence for pilot operations as part of the government's strategy to optimise the country’s digital potential and provide greater access to financial services for underserved communities.
This collaboration introduces modern digital services to individuals and businesses that aim to help grow the digital economy, accelerate digital payment adoption, and drive financial inclusion in Pakistan.
The partnership highlights Mastercard’s and Mashreq’s shared vision to support Pakistan’s growth by offering better customer experiences and financial accessibility. By leveraging Mastercard’s collaboration, Mashreq has access to improved efficiency, reliability, and security across card products for both businesses and consumers. The company aims to simplify payments through fast and secure transactions, improve service delivery that supports financial growth, and drive mutual value and financial support.
Through this collaboration, Mastercard aims to develop the financial service ecosystem in the country and aid Mashreq with its launch as a digital bank in Pakistan. This move will transform the digital economy and broaden access to digital financial services across Pakistan.
Vision 2025 was a plan launched in 2014 by the Government of Pakistan to guide the country’s socio-economic development. It focused on seven pillars, including developing human and social capital, achieving sustained and inclusive growth, strengthening governance and institutions, ensuring sustainable resources, boosting innovation, optimising education, and expanding trade routes. However, the plan faced challenges in implementation, and political changes impacted its continuity.
Another framework emerged in 2024, which aims to transform Pakistan into a USD 1 trillion economy by 2035. Key objectives include increasing exports from USD 30 billion to USD 100 billion within eight years and implementing efficient energy solutions to meet future demands.
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