Islamabad: Global digital operator VEON Group has announced a significant investment of USD 15 million into Mobilink Bank, signaling its continued confidence in Pakistan’s microfinance sector. This capital infusion aims to enhance the bank’s strategic growth initiatives, focusing on expanding MSME financing, exploring Islamic banking, and advancing its transformation into a digital bank.
According to Mobilink Bank, the investment arrives at a crucial juncture for the banking sector, as the State Bank of Pakistan has recently reduced its policy rate to promote economic stability. Mobilink Bank plans to leverage the funds to improve its operations, broaden its reach, and introduce new digital products and services for both individual and enterprise clients, thereby promoting financial inclusion.
Mobilink Bank’s efforts are geared toward serving underserved and unbanked populations, fostering economic activity, and providing accessible financial solutions. VEON Group’s investment aligns with its strategic vision to support digital innovation and underscores its commitment to Mobilink Bank’s role in Pakistan’s financial ecosystem. The investment is also in line with VEON’s broader goals of driving technological advancements and empowering communities through sustainable development.
Aamir Ibrahim, Chairman of Mobilink Bank and CEO of Jazz, remarked, “This capital infusion 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.”
Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, added, “The timing of this strategic investment is fitting as Pakistan’s economy is in a revival phase. This investment will be pivotal in further advancing our strategic goals, promoting MSME growth, expanding into Islamic banking, and enhancing our digital capabilities.”
VEON’s investment marks a transformative period for Mobilink Bank, reinforcing its commitment to financial inclusion and social mobility. With over 20 million monthly active users and an extensive network of touchpoints, the bank is dedicated to technological innovation and customer-centric services, alongside socio-economic and environmental progress.