VEON Group, the parent company of Mobilink Bank, has injected US$15 million of fresh capital to support the bank’s strategic initiatives, including expanding financing for micro, small and medium enterprises (MSMEs), exploring Islamic banking, and accelerating its transformation into a global bank. The first digital bank.
Mobilink Bank announced in a statement that the investment will enhance its ambitions to become a technologically advanced and comprehensive bank, in line with the State Bank of Pakistan’s recent monetary policies aimed at economic stability.
Amer Ibrahim, Chairman of the Board of Directors of Mobilink Bank and CEO of Jazz, highlighted the importance of the capital injection, saying: “This investment confirms our firm confidence in the bank’s vision and growth path.”
He added that Mobilink Bank’s focus in the future will remain on inclusivity, innovation and customer-centric services, with a long-term goal of promoting social, economic and environmental progress.
With a customer base exceeding 20 million monthly active users, the bank aims to leverage the new funding to expand its offerings in underserved sectors, especially small, medium and micro enterprises, while exploring Islamic banking as a means of growth.
Advisor to the Minister of Finance Khurram Shehzad welcomed VEON Group’s investment in… mail On X, formerly known as Twitter. “According to the CEO of Mobilink Bank, the timing of the investment is appropriate as the Pakistani economy is going through a recovery phase.” Let’s build on the momentum! Shehzad wrote, indicating optimism about the potential for economic growth.