VEON Group invests $20m in Mobilink Bank

January 02, 2026 (MLN):  Global digital operator VEON Group is investing $20 million in Mobilink Bank to support the bank’s growth and expansion of digital Islamic banking services in Pakistan.

This follows a $15m capital injection made by VEON in January 2025, which reflects the company’s confidence in Mobilink Bank’s growth trajectory and its integrated digital financial ecosystem with JazzCash.

Mobilink Bank, a subsidiary of VEON Group, is part of a global digital network serving over 150 million connectivity customers and 140 million monthly active digital users across five countries, representing more than 6% of the world’s population, according to a press release issued.

VEON Group is listed on Nasdaq under the ticker VEON.

The capital will be directed towards scaling Mobilink Bank’s micro, small, and medium enterprise (MSME) financing portfolio, enhancing its Islamic banking offerings, and accelerating its transformation into a technology-driven, digitally native bank.

The investment also aims to expand access to regulated financial services for underserved communities, including small businesses and women entrepreneurs.

Commenting on the development, Aamir Ibrahim, VEON Group Executive Committee Member and Chairman of Mobilink Bank, said, "This continued investment demonstrates VEON’s long-term commitment to Pakistan and our confidence in the ongoing transformation of the country’s digital financial services sector.

It will strengthen Mobilink Bank and JazzCash’s ability to deliver on strategic priorities, invest in robust technology infrastructure, and promote inclusive digital banking."

Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, added, "This funding will accelerate the growth of our Shariah-compliant banking services, helping small businesses formalize cash flows, access regulated credit, and build financial resilience.

As a future-ready digital bank, our priority remains delivering technology-enabled solutions that empower entrepreneurs, particularly women and underserved communities, across Pakistan."

Mobilink Bank’s growing deposit base and MSME-focused lending are enabling small businesses to move from informal cash usage to formal banking channels.

Additionally, women-centric financial products and green financing initiatives are supporting inclusive growth and resilience amid Pakistan’s economic and climate challenges.

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