Prime Minister Shehbaz Sharif inaugurated Mashreq Digital Bank and called it a landmark for a modern cashless economy. He said digitalisation is essential for transparency and faster services with less human intervention.
He also noted that Pakistan’s youth are a national asset and central to future growth.
Second digital bank to modernise Pakistan’s finance
Mashreq is the first to launch pilot operations as a digital retail bank and is now the second digital bank operating in Pakistan.
The service aims to cut paperwork, improve access, and support secure payments. Interior, finance, planning, petroleum, railways, and maritime ministers attended the event, along with the State Bank governor and the finance secretary.
The prime minister said the project reflects the government’s focus on public relief and better financial inclusion.
UAE investors back reforms and new investment
Shehbaz Sharif thanked the United Arab Emirates for steady support to Pakistan’s economy. He praised the role of UAE investors in strengthening ties and bringing new capital.
Finance Minister Muhammad Aurangzeb said global rating agencies have noted an improvement in performance, which shows that reforms are on track under the current leadership.
Youth, payments growth and regulatory support in focus
Mashreq Bank Chairman Abdulaziz Al Ghurair said the bank is proud to begin its journey in Pakistan and will support reforms and investment.
CEO Mohammad Humayun Sajjad said digital payments grew by 30 percent over the past year and that the youth will power the sector’s future.
Under the model, Pakistan Railways and the Capital Development Authority will coordinate with the State Bank where relevant rules apply.
The ceremony ended with the joint inauguration by the prime minister and Al Ghurair, marking a clear step toward wider digital finance.
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