A Major Step in Pakistan’s Banking Transformation
Mashreq Digital Bank (MDB), one of the Middle East’s leading financial institutions, has officially started operations in Pakistan. The launch marks a major milestone in the country’s journey toward a digital-first banking system, offering advanced financial solutions, free remittance services, and new job opportunities for locals.
Free Remittances for Overseas Pakistanis
One of the biggest highlights of Mashreq’s entry into Pakistan is its fee-free remittance service. Overseas Pakistanis with Mashreq accounts in the UAE can now easily open accounts in Pakistan and transfer money back home without paying any transfer charges.
This step not only reduces financial burdens on families relying on remittances but also strengthens Pakistan’s economy by channeling money through official banking networks instead of informal sources.
Launch Ceremony in Islamabad
The official launch event took place in Islamabad and brought together senior government and banking leaders, including:
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Bilal Azhar Kayani – Minister of State for Finance
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Jamil Ahmed – Governor, State Bank of Pakistan
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Abdul Aziz Al Ghurair – Chairman, Mashreq Group
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Ahmed Abdul Al – Group CEO, Mashreq Bank
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Senior representatives from the Pakistan Banking Association (PBA)
The high-profile participation highlighted the strong confidence and expectations tied to Mashreq’s operations in Pakistan.
Driving Economic Growth and Innovation
At the event, Zafar Masood, Chairman of the Pakistan Banking Association, noted that the arrival of global digital banks like Mashreq will accelerate the country’s shift toward modern, technology-driven banking. He emphasized that digital finance plays a key role in ensuring economic growth and stability.
Similarly, Yousaf Hussain, Senior Vice Chairman of PBA, shared that the Al Ghurair Group’s projects in Pakistan will bring long-term benefits through job creation and investment opportunities.
450 Jobs with a Focus on Women’s Inclusion
A major announcement came from Minister Bilal Azhar Kayani, who revealed that Mashreq Digital Bank will create 450 new jobs in Pakistan. Notably, 45% of these positions are reserved for women, reflecting Mashreq’s commitment to gender diversity and equal opportunities in the financial and technology sectors.
This approach is expected to encourage more women to join the workforce and contribute to the country’s growing digital economy.
Among Pakistan’s First Licensed Digital Banks
According to the Governor of the State Bank of Pakistan, out of 40 applicants for digital banking licenses, only five banks were granted approval. Mashreq Digital Bank is among these select few, officially becoming one of the first five licensed digital banks in Pakistan.
This achievement is a key step in Pakistan’s progress toward a cashless and digital economy, bringing safer, faster, and more inclusive financial services for everyone.
A New Era for Banking in Pakistan
The launch of Mashreq Digital Bank Pakistan is more than just a new financial service—it is a game-changer for the country’s banking sector. With free remittance services, employment opportunities, and modern digital solutions, Mashreq is well-positioned to support both individuals and the national economy.
As Pakistan continues to embrace digital transformation, the arrival of international players like Mashreq will help ensure secure, innovative, and customer-friendly banking for all citizens.
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