Mastercard and Dubai-based Mashreq have signed a multi-year strategic agreement to support Mashreq’s launch as a digital bank in Pakistan.
The collaboration will focus on Mashreq’s card portfolio across consumer, affluent, and business market segments.
The State Bank of Pakistan has granted Mashreq Pakistan a restricted license for pilot operations as part of the government’s efforts to expand digital financial services.
Mashreq and Mastercard aim to introduce digital banking solutions in Pakistan.
The partnership seeks to promote digital payment adoption, financial inclusion, and the broader digital economy.
“Our strategic collaboration with Mastercard exemplifies the strong synergy between our two organisations and our shared vision to support Pakistan’s growth by delivering exceptional customer experiences and greater financial accessibility,”
said Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan.
“This collaboration will enable us to offer efficiency, reliability, and security across card products for both consumers and businesses.”
Arslan Khan, Country Manager for Pakistan and Afghanistan at Mastercard, added:
“We are committed to harnessing the power of collaboration to develop the financial services ecosystem in Pakistan. Our collaboration with a leader like Mashreq serves to transform the digital economy and broaden access to financial services while driving meaningful change for underserved communities in Pakistan.”
Featured image credit: Mastercard
