VEON to invest $15 million in Mobilink Bank to advance financial inclusion
VEON Group, a leading global digital operator, has announced a $15 million
investment in Mobilink Bank, Pakistan’s premier digital microfinance
institution. This capital infusion underscores VEON’s commitment to advancing
financial inclusion and supporting economic growth in Pakistan.
The investment will enable Mobilink Bank to expand its Micro, Small, and
Medium Enterprise (MSME) financing portfolio, launch Islamic banking services,
and accelerate its evolution into a cutting-edge, technology-driven digital
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Driving Financial Inclusion and Economic Growth
As a leader in digital microfinance, Mobilink Bank is dedicated to addressing
the financial needs of underserved and unbanked communities. This investment
will bolster the bank’s operational capabilities, enhance outreach, and
introduce innovative digital solutions for individual and enterprise customers.
At a critical juncture for Pakistan’s banking sector—marked by the State
Bank of Pakistan (SBP)’s recent policy rate reduction—Mobilink Bank is
well-positioned to catalyze economic activity and fuel socio-economic
development.
Strategic Vision and Commitment
VEON’s investment aligns with its broader mission to empower communities
through digital innovation and sustainable development. By supporting Mobilink
Bank’s growth, VEON reinforces its vision of fostering technological progress
and driving financial inclusion in Pakistan.
Leadership Remarks
Welcoming the investment, Aamir Ibrahim, Chairman of Mobilink
Bank and CEO of Jazz, stated:
“This $15 million capital infusion by VEON underscores their unwavering
confidence in Mobilink Bank’s vision and strategic direction. This funding
empowers us to grow our MSME financing, Islamic banking, and technology-driven
services, fostering digital readiness and financial inclusion while shaping a
progressive financial landscape in Pakistan.”
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Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank,
added:
“VEON’s investment reflects their trust in Mobilink Bank’s ability to lead the
fintech revolution in Pakistan. This timely support will help us achieve our
strategic goals, strengthen MSME growth, expand into Islamic banking, and
advance digital capabilities during this pivotal phase of economic revival.”
Mobilink Bank’s Impact
With over 20 million monthly active users and a network exceeding 400,000
touchpoints, Mobilink Bank is a driving force for financial inclusion and
socio-economic progress in Pakistan. The bank remains committed to delivering
customer-centric solutions, leveraging technological innovation, and promoting
environmental and social responsibility.
Source: Mettis Global