Global digital operator VEON Group has announced a further investment of $20 million in Mobilink Bank, underlining its continued confidence in Pakistan’s digital banking landscape and the bank’s long-term growth strategy. The latest capital injection is aimed at supporting Mobilink Bank’s expansion as a digitally native institution, with a strong focus on Islamic banking services and technology-driven financial solutions.
This investment follows a previous $15 million capital injection made by VEON in January 2025. Together, these investments highlight VEON’s belief in Mobilink Bank’s growth trajectory and its close integration with JazzCash, one of Pakistan’s largest digital financial platforms. The bank operates as a subsidiary of VEON Group, which runs a global digital network serving more than 150 million connectivity customers and 140 million monthly active digital users across five countries, representing over 6% of the world’s population.
VEON Group is publicly listed on the Nasdaq under the ticker symbol VEON, reinforcing its position as a global digital operator with a strong presence in emerging markets. According to the press release, the newly announced capital will be strategically deployed to strengthen Mobilink Bank’s micro, small, and medium enterprise financing portfolio, expand its Shariah-compliant banking offerings, and accelerate its evolution into a fully technology-driven digital bank.
A key objective of the investment is to broaden access to regulated financial services for underserved segments of society. Mobilink Bank aims to deepen outreach to small businesses, women entrepreneurs, and communities that traditionally remain outside the formal banking system. By leveraging digital platforms and data-driven solutions, the bank is seeking to bridge gaps in access to credit and financial tools across Pakistan.
Commenting on the development, Aamir Ibrahim, Executive Committee Member at VEON Group and Chairman of Mobilink Bank, said the continued investment reflects VEON’s long-term commitment to Pakistan. He noted that the funding will strengthen the combined capabilities of Mobilink Bank and JazzCash, enabling both platforms to advance strategic priorities, invest in resilient technology infrastructure, and support inclusive digital banking at scale.
Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, emphasized that the fresh funding will accelerate the growth of the bank’s Islamic banking services. He stated that Shariah-compliant products play a critical role in helping small businesses formalize cash flows, gain access to regulated credit, and build financial resilience in a challenging economic environment. According to him, Mobilink Bank’s strategy centers on delivering technology-enabled financial solutions that empower entrepreneurs, particularly women and underserved communities across the country.
Mobilink Bank’s expanding deposit base and MSME-focused lending model are already contributing to the shift from informal cash-based transactions to structured banking channels. This transition is seen as a crucial step in strengthening Pakistan’s financial system and improving transparency. In parallel, the bank’s women-centric financial products and green financing initiatives are supporting inclusive growth while addressing broader economic and climate-related challenges.
As Pakistan’s digital finance ecosystem continues to evolve, VEON’s latest investment positions Mobilink Bank as a key player in shaping the future of Islamic digital banking. The move reflects growing investor confidence in fintech-led financial inclusion and highlights the increasing role of technology in transforming banking services across the country.
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