Mastercard has signed a multi-year agreement with Mashreq to support the company’s launch as a digital bank in Pakistan. This move comes after the State Bank of Pakistan granted Mashreq a restricted licence for pilot operations, part of the government’s strategy to enhance digital services and increase access to financial services in underserved communities.
The partnership introduces modern digital banking services to individuals and businesses, aiming to accelerate digital payment adoption, drive financial inclusion, and contribute to Pakistan’s digital economy. Through this collaboration, Mashreq will leverage Mastercard’s expertise to enhance efficiency, reliability, and security across card products, providing both businesses and consumers with fast, secure payment solutions.
This collaboration aligns with Mastercard and Mashreq’s shared vision to support Pakistan’s growth, improve customer experiences, and broaden financial accessibility. By helping Mashreq launch as a digital bank, the partnership aims to transform Pakistan’s financial services ecosystem and expand access to digital financial solutions.
The initiative is in line with Pakistan’s Vision 2025, which aims to guide socio-economic development and boost the country’s digital transformation. With a new framework in place for 2024, Pakistan is working toward its goal of becoming a USD 1 trillion economy by 2035, with a focus on export growth and energy efficiency.
