HBL has teamed up with Mastercard to launch its new Business Debit Card, designed specifically for Pakistan’s small and medium-sized enterprises (SMEs), sole proprietors, and entrepreneurs. The initiative features two variants: the Classic Business Debit Card and the World Business Debit Card. This development is a significant step in HBL’s ongoing commitment to provide innovative financial solutions and drive the nation’s transition toward a cashless economy.
SMEs form a critical part of Pakistan’s economic landscape, with over five million businesses contributing nearly 40 percent to the national GDP and employing approximately one-third of the workforce. Recognizing this, HBL has emerged as a leading enabler for the sector, becoming the first bank in Pakistan to surpass PKR 100 billion in SME lending. The institution has pioneered non-collateralized lending and continues to expand access to financing for small businesses, directly contributing to Pakistan’s economic growth.
The newly launched Business Debit Card allows SMEs to manage daily financial transactions with speed, security, and convenience. HBL, already the largest issuer of debit cards in the country, sees this launch as an extension of its commitment to financial inclusion and the promotion of a fully digitized banking ecosystem. The card is designed to streamline payments, enhance operational efficiency, and encourage SMEs to embrace digital financial tools.
The launch event took place on 27 August 2025 at HBL Tower, Karachi, attended by key figures including Muhammad Nassir Salim, President & CEO of HBL, Aamir Kureshi, Head of Products, Transactional Services & Solution Delivery at HBL, and J.K. Khalil, Division President, East Arabia, Mastercard, alongside senior executives from both organizations.
At the event, Muhammad Nassir Salim emphasized the strategic importance of supporting SMEs in Pakistan, stating, “The Government of Pakistan and the State Bank continue to emphasize SME growth as a driver of economic stability, innovation, and employment. HBL stands aligned with this vision. By equipping SMEs, sole proprietors, and entrepreneurs with the means to transact securely and seamlessly, HBL is supporting the national agenda of enabling businesses to grow, formalize, and contribute to Pakistan’s economic progress.”
J.K. Khalil of Mastercard highlighted the role of small businesses in the national economy, noting, “Small businesses are the backbone of Pakistan’s economy, and Mastercard and HBL share a commitment to empowering them to grow and thrive. Our latest collaboration aligns with our drive to expand our presence across key business segments in the country while accelerating the adoption of digital transactions. This initiative reinforces our dedication to driving financial inclusion and supports SBP’s vision to digitize SMEs and strengthen economic resilience.”
Aamir Kureshi added, “HBL remains committed to SME lending, given its criticality to Pakistan’s economic progress. Today’s launch of the Business Debit Card represents a natural stride forward, extending our support from financing into payment solutions, with fast, convenient, and secure transactions leading the drive to a more digitized customer behavior. This initiative reflects our vision of enabling every business to unlock its potential and thrive in a digital-first economy.”
HBL and Mastercard have maintained a strong partnership since 2013, introducing several innovative payment solutions in Pakistan. With the launch of the Business Debit Card, both institutions reaffirm their commitment to empowering SMEs, advancing financial inclusion, and facilitating a smoother transition toward a cashless, digitally driven business environment.
By providing a secure, efficient, and accessible payment solution, HBL and Mastercard are not only supporting day-to-day operations for small businesses but also contributing to Pakistan’s broader economic development, encouraging transparency, and modernizing the country’s payment infrastructure.