ISLAMABAD – Mashreq Digital Bank, already operational in the United Arab Emirates, has officially launched its services in Pakistan.
Pakistani citizens holding Mashreq Digital Bank accounts in the UAE can now open accounts in Pakistan and send remittances to their families free of charge.
The launch ceremony in Islamabad was attended by key figures including State Minister for Finance Bilal Azhar Kayani, State Bank Governor Jameel Ahmad, Mashreq Group Chairman Abdulaziz Al Ghurair, Group CEO Ahmed Abdul, and leaders from the Pakistan Banking Association (PBA).
Chairman of the Pakistan Banking Association, Zafar Masood, highlighted that Mashreq Digital Bank will play a vital role in stabilizing Pakistan’s economy. Senior Vice Chairman of PBA, Yusuf Hussain, expressed optimism about the new employment opportunities the Al Ghurair Group’s project will create in Pakistan.
Mashreq Pakistan CEO Humayun Sajjad and Group CEO Ahmed Abdul also shared their views during the event. Minister Bilal Azhar Kayani announced that the bank will create 450 jobs in Pakistan, with 45% reserved for women.
State Bank Governor Jameel Ahmad revealed that Pakistan has received 40 applications for digital banking licenses, with five banks approved so far, including Mashreq Digital Bank, which has already begun operations.
