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Pakistan launches UAE-backed digital bank to boost cashless economy and financial inclusion.
Prime Minister Shehbaz Sharif inaugurated Mashreq Digital Retail Bank in Pakistan, a UAE-based digital bank launching its first international branch, aiming to modernize the country’s financial system and promote a cashless economy.
The bank offers Shariah-compliant, mobile-first, paperless services for individuals and SMEs, with plans to onboard 10 million users and invest $100 million by 2025.
It aims to boost financial inclusion, support SMEs, enhance remittances, and drive digital transformation through advanced technology and a 24/7 digital platform.
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Pakistán lanza un banco digital respaldado por Emiratos Árabes Unidos para impulsar la economía sin dinero en efectivo y la inclusión financiera.