ISLAMABAD: Prime Minister Shehbaz Sharif formally launched Mashreq Digital Bank in Islamabad on Tuesday, describing it as a pivotal move toward fostering a cashless economy and strengthening Pakistan’s financial infrastructure.
The event was held in collaboration with Abdul Aziz Al Ghurair, Chairman of Mashreq Bank. During his speech, the Prime Minister highlighted the importance of digital transformation, emphasizing that adopting digital technologies is essential for creating a paperless economy and minimizing reliance on manual processes.
He expressed enthusiasm for the establishment of Pakistan’s second digital bank, recognizing the ongoing support from the United Arab Emirates for Pakistan’s economic and social development. Shehbaz Sharif also praised UAE business leaders for their role in enhancing bilateral relations and lauded the capabilities of the Mashreq Bank team.
The Prime Minister stressed the need to promote growth in business, agriculture, industrial sectors, and banking services nationwide. He pointed out that digital innovation is crucial for accelerating economic progress and expressed confidence that Mashreq Bank’s launch will improve access to high-quality financial services for the people.
Finance Minister Muhammad Aurangzeb also attended the event, welcoming Mashreq Digital Bank’s entry into Pakistan’s financial sector. He noted that the government is actively working on reforms across administration, energy, banking, and state-owned enterprises, with a focus on maintaining policy stability.
Abdul Aziz Al Ghurair, Chairman of Mashreq Bank, stated that Pakistan was selected for launching Mashreq’s first fully digital bank due to its strategic geographic position and conducive business environment. He affirmed Pakistan’s potential to emerge as a prominent digital economy hub.
