Global Satellite Operators Await Pakistan Approval for Broadband Launch
November 26, 2025
Mashreq Bank Pakistan has launched the country’s first profit-bearing current account, offering up to 5% annually. The initiative aims to attract remittances and expand digital banking services, marking a milestone for Pakistan’s financial sector.
Read more: PM Inaugurates Mashreq Digital Bank in Pakistan
Mashreq Bank Pakistan, one of the nation’s licensed retail digital banks, has introduced Pakistan’s first-ever profit-bearing current account, offering returns of up to 5% per annum. The announcement was made during the launch of Mashreq NEO, a digital banking platform designed for local customers. Shahzad Khokhar, Head of Islamic Banking, highlighted that the Shariah-compliant current account will provide competitive profit rates, while Islamic savings accounts will deliver up to 10% returns. Conventional products will also feature attractive rates.
The inauguration was led by Prime Minister Shehbaz Sharif, who described the launch as a significant milestone for Pakistan’s economy. With headquarters in Dubai, Mashreq has invested $100 million in Pakistan and aims to serve 10 million customers within five years, positioning itself as a major foreign direct investor.
CEO Muhammad Hamayun Sajjad emphasized the bank’s focus on remittances, noting that Mashreq UAE already facilitates transfers from nearly 300,000 overseas Pakistanis. These services include instant, zero-fee remittances and simplified account opening for non-resident Pakistanis. With remittances contributing 10% to Pakistan’s GDP and reaching $38 billion in FY 2024–25, Mashreq’s strategy aligns with national economic priorities. Future plans include SME banking by 2026, consumer lending, and cash-deposit ATMs nationwide.
