Islamabad, September 16, 2025 – Prime Minister Muhammad Shehbaz Sharif on Tuesday inaugurated the Mashreq Digital Retail Bank, describing it as a milestone in Pakistan’s journey toward a fully digital and paperless economy.
The launch represents the entry of a leading international financial institution into Pakistan’s fast-evolving banking sector.
In his address at the inauguration ceremony, the prime minister extended warm congratulations to Chairman Mashreq Bank, Abdul Aziz Al Ghurair, and appreciated his efforts in strengthening Pakistan-UAE relations. He noted that the initiative not only demonstrates investor confidence in Pakistan’s economy but also opens new avenues for modern financial solutions.
“The introduction of Mashreq Digital Bank is a groundbreaking step that will help accelerate the shift toward cashless transactions in Pakistan,” said Shehbaz Sharif. “This will particularly empower our youth, who represent both our greatest challenge and our greatest asset.” He assured complete government support for the venture, emphasizing that sustainable development in areas such as banking, agriculture, and investment depends on rapid digital transformation.
Finance Minister Senator Muhammad Aurangzeb echoed these views, expressing optimism that Mashreq Bank would inject innovation and inclusivity into Pakistan’s financial system. He highlighted recent macroeconomic progress acknowledged by global rating agencies, and underlined the importance of policy continuity to ensure long-term growth. Aurangzeb added that the new digital Bank would play a critical role in formalizing the economy by bringing millions of unbanked Pakistanis into the regulated financial net.
Abdul Aziz Al Ghurair, Chairman of Mashreq, commended the prime minister’s leadership. “Pakistan is on the path to becoming a digital economic hub in South Asia. Under your vision, we are confident that the banking industry will see a new era of innovation,” he remarked.
CEO of Mashreq Pakistan, Muhammad Hamayun Sajjad, disclosed that while digital transactions in the country have risen by 35% in recent years, a substantial portion of the population still remains outside the banking system. He announced Mashreq’s goal of onboarding 10 million new users, making digital finance accessible to underserved communities.
The ceremony was attended by senior government officials, including Minister for Planning and Development Ahsan Iqbal, Petroleum Minister Ali Pervez Malik, Railway Minister Hanif Abbasi, Minister for Maritime Affairs Junaid Anwar, and Governor of the State Bank of Pakistan Jameel Ahmad. Their presence underscored the government’s commitment to advancing digital banking as a national priority.