Islamabad, Pakistan – VEON Group, the parent company of Jazz⁢ and Mobilink Bank, announced a ‍$20 million investment in Mobilink Bank to fuel its growth⁤ and expand its digital Islamic banking services within Pakistan. This ​investment follows ‌a $15 million capital deployment in⁤ January ⁣2025,demonstrating VEON’s⁤ continued confidence in Mobilink Bank’s trajectory.

The ‍funding will be​ strategically allocated to bolster Mobilink Bank’s financing for Micro, Small, and Medium Enterprises (MSMEs), enhance ⁢its islamic banking offerings, and accelerate its ⁣transformation into a technology-driven, digitally native bank. A key focus remains on broadening access ‍to regulated financial services for underserved communities, notably small businesses and women entrepreneurs.

Strategic ‍Importance & Market Context

VEON Group⁢ Executive Committee Member and chairman of Mobilink ⁤Bank, Aamir​ Ibrahim, stated‌ the continued investment underscores VEON’s long-term commitment to​ Pakistan and its⁣ belief in the ongoing structural shift within the country’s ⁤digital financial services sector. The investment is occurring amidst ​the ‍rapid growth of Pakistan’s digital banking and‌ microfinance industries.

Mobilink Bank, alongside ⁣JazzCash,‍ currently serves over ⁤57 million customers.this extensive reach ​is supported by a nationwide‍ network exceeding one​ million merchants and agents, establishing one of pakistan’s⁣ largest ⁣digital⁢ financial ecosystems.

Key Investment Areas

• MSME ‍Financing: Expanding access to financial resources for small and ⁣medium-sized businesses.
• Islamic Banking: Developing and ‌enhancing sharia-compliant financial products and services.
• Digital Transformation: ⁣Investing in technology to create a⁣ fully digital banking experience.
• Financial ⁣Inclusion: Prioritizing ⁤access‌ to financial services for⁢ underserved populations,including⁣ women.