Mashreq has launched NEO BIZ in Pakistan, introducing a dedicated digital banking proposition for small and medium-sized enterprises (SMEs), sole proprietors and self-employed individuals. The platform is designed to help businesses manage their financial activities through digital channels, bringing together banking, payments and collections while creating scope for additional services as companies expand. The launch extends Mashreq’s business banking proposition into Pakistan and targets businesses seeking more accessible financial services without depending heavily on traditional branch-based processes.
Pakistan’s micro, small and medium-sized enterprises (MSMEs) play a substantial role in the national economy. According to figures cited in the announcement, the country has approximately 7.14 million MSMEs, which contribute nearly 40% of gross domestic product, account for around 30% of exports and employ more than 80% of the non-agricultural workforce. Despite this contribution, many businesses continue to face difficulties accessing formal financing and suitable financial services. Outstanding SME financing stood at approximately Rs882 billion as of December 2025, indicating the scale of existing credit activity as well as the potential for further development in this market.
NEO BIZ is intended to address some of these challenges by giving eligible businesses a digital route to open and manage accounts, conduct routine transactions and handle payments and collections. By reducing reliance on physical branch visits, the platform aims to simplify day-to-day financial management for business owners. Mashreq is positioning the service as an integrated solution rather than a basic digital account, with a broader development plan covering tools that can support businesses as their financial and operational requirements become more complex.
Fernando Morillo, Group Head of Retail Banking at Mashreq, said the bank’s experience across international markets had demonstrated how digital-first banking models could improve business efficiency, transparency and access to financial services. He described NEO BIZ as an extension of Mashreq’s international business banking proposition, combining commercial banking capabilities with a platform designed to serve the needs of SMEs. Morillo also identified Pakistan as a market with significant potential, citing the launch as a step towards supporting businesses in an economy undergoing digital change.
The platform’s planned services extend beyond account management and payments. Its broader roadmap includes business debit and virtual cards, payroll solutions, invoice-based payments, transaction analytics and bookkeeping capabilities. These features are intended to help business owners organise financial activity, monitor transactions and manage routine administrative responsibilities through digital tools. The announcement describes these capabilities as part of an expanding proposition, meaning that the wider set of services is expected to develop over time rather than necessarily being available in full at launch.
Muhammad Hamayun Sajjad, Chief Executive Officer of Mashreq Bank Pakistan, said the country’s SME sector remained underserved in terms of access, awareness and digital capabilities. He said NEO BIZ had been designed around local business requirements, with an emphasis on simplifying banking and reducing dependence on physical service channels. Sajjad added that the launch aligned with Mashreq’s broader objective of supporting financial inclusion and Pakistan’s economic development through digital financial services.
Mashreq also plans to develop NEO BIZ into a wider business services ecosystem through Banking-as-a-Service capabilities and strategic partnerships. Potential additions include bookkeeping, supply chain solutions, tax facilitation, analytics, invoicing and cash flow-based financing. These services could help businesses manage several operational functions through a more connected platform, although their rollout will follow a phased approach. The announcement did not specify launch dates, pricing or detailed eligibility conditions for each planned service.
Syed Jaffar Abbas Shirazi, Head of NEO BIZ at Mashreq Bank Pakistan, said the platform was designed to address common SME challenges, including fragmented financial tools, limited visibility of available products and barriers to financing. He explained that the objective was to bring financial operations together in one place, combining account opening and payments with tools such as invoicing, bookkeeping and analytics as the proposition develops.
NEO BIZ will reach businesses through digital channels, strategic partnerships and physical-digital service touchpoints, a distribution approach intended to support access across Pakistan’s diverse SME market. Mashreq expects the proposition to encourage wider adoption of digital financial services, improve digital payment acceptance and support entrepreneurs and self-employed individuals. Its longer-term contribution will depend on how effectively the platform expands its services and reaches businesses that remain underserved by formal financial institutions.
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