Veon Group Invests $15 Million in Mobilink Bank for Growth and Tech Advancements

ISLAMABAD: Veon Group, a global digital operator, has invested $15 million in Mobilink Bank Pakistan to support the bank’s growth initiatives and technological transformation. The capital aims to bolster Mobilink Bank’s efforts in expanding its services in Micro, Small, and Medium Enterprise (MSME) financing, exploring Islamic banking, and transitioning into a more digitally advanced financial institution.

This development comes as Pakistan’s microfinance sector and banking industry experience increased activity following a reduction in the State Bank of Pakistan’s (SBP) policy rate, designed to promote economic stability. Mobilink Bank plans to use the investment to enhance its operational capabilities, introduce innovative digital products, and extend its outreach to underserved communities.

Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, described the investment as a step toward strengthening the bank’s position in Pakistan’s financial landscape. “This investment will help us advance our strategic goals, promote MSME growth, expand into Islamic banking, and enhance our digital capabilities,” he said.

Aamir Ibrahim, Chairman of Mobilink Bank and CEO of Jazz noted that the funding reflects Veon’s confidence in the bank’s potential. He emphasized the importance of financial inclusion and digital innovation in driving socio-economic progress.

Mobilink Bank, with over 20 million monthly active users and a network of more than 400,000 touchpoints, focuses on providing accessible financial solutions. The investment is expected to further the bank’s mission of fostering economic activity and bridging financial gaps in Pakistan.

Veon Group operates in six markets, serving nearly 160 million customers globally. Its latest investment underscores its commitment to supporting digital transformation and economic development in Pakistan.