Prime Minister Muhammad Shehbaz Sharif on Tuesday inaugurated Mashreq Digital Bank, describing its establishment as a landmark step toward the complete digitalisation and modernisation of Pakistan’s economy.
Speaking at the ceremony, the prime minister stressed that digitalisation is a necessity of the modern era and essential for building a transparent, paperless economy with reduced human intervention. He said Pakistan’s youth, who make up a large share of the population, are a tremendous asset and central to the country’s economic future.
Mashreq becomes the first bank to launch pilot operations as a digital retail bank and is now the second digital bank operating in Pakistan. PM Shehbaz welcomed the move, noting that the United Arab Emirates has consistently supported Pakistan’s economic and social progress, with its business community playing a vital role in strengthening bilateral ties.
The event was attended by Finance Minister Muhammad Aurangzeb, Planning Minister Ahsan Iqbal, Petroleum Minister Ali Pervaiz Malik, Railways Minister Hanif Abbasi, Maritime Affairs Minister Junaid Anwar, State Bank Governor Jameel Ahmad, and Finance Secretary Imdad Ullah Bosal.
Finance Minister Aurangzeb highlighted that international rating agencies have confirmed Pakistan’s improved economic performance, demonstrating that the country is on the right track under PM Shehbaz’s leadership.
Mashreq Bank Chairman Abdulaziz Al Ghurair said the bank was proud to begin its financial journey in Pakistan and to contribute to economic reforms, development, and foreign investment. CEO Mohammad Humayun Sajjad added that digital payments in Pakistan have grown by 30% in the past year, stressing that the country’s youth represent the digital future of the financial sector.
At the conclusion of the ceremony, Prime Minister Shehbaz Sharif and Abdulaziz Al Ghurair jointly inaugurated Mashreq Digital Bank in Pakistan.
