Mashreq has launched its full-service digital retail bank in Pakistan under the name Mashreq Bank Pakistan.

This move marks the first international deployment of Mashreq’s digital banking platform outside the UAE and signifies an important step in Pakistan’s advancement towards more digital banking solutions.

The new bank aims to provide secure and optimized digital banking services that are fully Shariah-compliant. It will also focus on addressing the evolving needs, preferences, and demands of its customers while ensuring compliance with industry regulations.

Details of Mashreq Bank Pakistan’s Launch

Mashreq claims that the operations will be driven by advanced technology, a secure customer experience, and a commitment to responsible banking. The strategy over the next 5-10 years includes accelerating the development of the Pakistani banking sector, promoting digital transformation, financial inclusion, growth, job creation, and sustainable development.

Mashreq’s offerings for individuals will include Mashreq NEO, while its propositions for SMEs are encapsulated in Mashreq NEOBiz. These services promise a 24/7, paperless, and mobile-first banking experience. Customers can benefit from secure onboarding, zero-fee ATM withdrawals, AI-driven risk controls, and free debit cards. Additionally, the bank plans to facilitate Overseas Pakistanis residing in the UAE by allowing them to open accounts in Pakistan and efficiently remit funds.