VEON Invests $20 million in Mobilink Bank

VEON Group is investing $20 million in Mobilink Bank to expand digital and Islamic banking services in Pakistan. The funds will boost MSME financing, enhance digital offerings, and increase financial access for underserved communities. Mobilink Bank, together with JazzCash, now serves over 57 million customers nationwide.

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Global digital operator VEON Group, the parent company of Jazz and Mobilink Bank, has announced a 20 million investment in Mobilink Bank to support its growth and the expansion of digital Islamic banking in Pakistan. This follows a prior $15 million capital injection in January 2025 and reflects VEON’s continued confidence in Mobilink Bank’s growth trajectory and integrated digital financial ecosystem alongside JazzCash.

The new capital will be directed toward scaling Mobilink Bank’s micro, small, and medium enterprise (MSME) financing portfolio, advancing its Islamic banking products, and reinforcing its evolution into a technology-driven, digitally native bank. A key objective is to expand regulated financial access for underserved communities, particularly small businesses and women, supporting inclusive economic development.

Mobilink Bank, combined with JazzCash, serves over 57 million customers and operates through a network of more than one million merchants and agents. VEON Group Executive Committee Member and Mobilink Bank Chairman Aamir Ibrahim emphasised that this continued investment underscores the company’s long-term commitment to Pakistan and confidence in the ongoing structural transformation of the country’s digital financial services ecosystem.