PM Shehbaz Inaugurates Mashreq Digital Bank to Boost Pakistan’s Digital Economy

MG News | September 16, 2025 at 08:16 PM GMT+05:00

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September 16, 2025 (MLN): Prime Minister Shehbaz Sharif officially inaugurated Mashreq Digital Retail Bank in Pakistan on Tuesday, calling it a transformative step toward a modern, paperless, and inclusive financial system.

The PM praised UAE-based Mashreq Bank and its Chairman Abdul Aziz Al Ghurair for their investment, highlighting the move as a milestone in promoting cashless transactions and financial inclusion, particularly among youth. He pledged full government support to drive digital transformation across key sectors like banking, agriculture, and investment.

Finance Minister Muhammad Aurangzeb noted the digital bank's role in documenting the informal economy and emphasized the need for policy consistency amid improving macroeconomic indicators.

Mashreq Pakistan CEO Muhammad Hamayun Sajjad announced a target of onboarding 10 million new users, citing a 35% surge in digital transaction volumes but continued financial exclusion.

The event was attended by senior ministers and SBP Governor Jameel Ahmad, underscoring the government's commitment to accelerating the shift to a digital economy.

The State Bank of Pakistan had earlier declared Mashreq Bank Pakistan Limited a Scheduled Bank, effective September 15, 2025.

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