Mastercard Partners with Mashreq to Launch Bank

Mastercard has entered into a multi-year strategic partnership with Mashreq to support its launch as a digital bank in Pakistan. This collaboration, announced at a signing ceremony at Mashreq’s headquarters in Dubai, marks a significant step in enhancing financial accessibility in the country. Focusing on card portfolios across consumer, affluent, and business segments, the partnership is set to introduce innovative digital payment solutions.

Mashreq Pakistan has been granted a restricted license for pilot operations by the State Bank of Pakistan, aligning with the government’s vision to unlock digital potential and expand financial services to underserved communities. By combining Mashreq’s regional expertise with Mastercard’s global and local knowledge, this partnership aims to accelerate the adoption of digital payments, strengthen financial inclusion, and contribute to Pakistan’s digital economy.

Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, highlighted that this collaboration reflects a shared commitment to delivering seamless, secure, and efficient payment experiences. Similarly,Arslan Khan, Country Manager for Mastercard in Pakistan and Afghanistan, emphasized Mastercard’s dedication to expanding digital financial services and making a lasting impact on Pakistan’s economic landscape. Together, the two organizations are poised to redefine the country’s financial ecosystem and drive sustainable growth.