Veon Group invests $15 million in Pakistan's Mobilink Bank

Global telecommunications and digital services company VEON has invested another $15 million in Mobilink Bank to drive the bank’s strategic ambitions.

“The capital investment will empower Mobilink Bank to expand its offerings in Micro, Small, and Medium Enterprise (MSME) financing, explore Islamic banking, and accelerate its ongoing transition into a technologically advanced, future-ready digital bank,” a statement noted.

Mobilink Bank is Pakistan’s top digital microfinance bank, dedicated to increasing financial access.

At a time when the State Bank of Pakistan has lowered its policy rate to support economic growth, Mobilink Bank will use the new investment funds to improve operations, expand reach, and launch new digital services.

The bank aims to boost economic activity in underserved areas and provide accessible financial solutions.

VEON Group’s investment supports Mobilink Bank’s mission to be a key player in Pakistan’s financial sector, aligning with VEON’s goals of advancing technology and empowering communities.

Chairman Mobilink Bank & CEO Jazz, Aamir Ibrahim said, "This capital infusion of USD 15 million by VEON underscores their steadfast confidence in Mobilink Bank’s vision and trajectory. It empowers us to further expand our portfolio, driving growth in MSME financing, Islamic banking, and technology-driven operations."

"Together, we are fostering digital readiness and financial inclusion, ensuring that MMBL continues to play a pivotal role in shaping a progressive and inclusive financial landscape in Pakistan."