VEON’s financial services arm, Mobilink Microfinance Bank, has launched Islamic banking operations across Pakistan.

Facilitating Access to Shariah-Compliant Financial Services

The bank aims to meet the growing demand for Shariah-compliant solutions by introducing these services. The launch of Islamic banking was first announced in Karachi, the economic capital of Pakistan, with plans for expansion to Peshawar and other locations nationwide.

Mobilink Microfinance Bank secured its Islamic Banking license from the State Bank of Pakistan earlier this year, enabling it to offer compliant financial products to underserved communities. The bank’s strategy is geared towards expanding financial choices and inclusion, particularly for individuals and small businesses.

Leadership Statements

Aamir Ibrahim, Chairman of the Mobilink Bank Supervisory Board, emphasized the significance of this launch in reflecting the bank’s commitment to inclusive, customer-centric services. He highlighted that these Shariah-compliant products will be introduced through both physical and digital channels.

Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, underscored the importance of providing transparent, faith-aligned financial solutions to extend formal banking access across Pakistan.

Islamic Banking Landscape in Pakistan

According to recent State Bank of Pakistan data from its Islamic Banking Bulletin, assets under Islamic banking reached approximately USD 44 billion as of September 2025, accounting for about 21.6% of total banking sector assets. Similarly, deposits under Islamic banking represented around 26.5% of the country’s overall deposit base.