ISLAMABAD – VEON Group has invested USD 20 million in Mobilink Bank to support its expansion in digital Islamic banking and microfinance services across Pakistan. The capital injection follows a previous USD 15 million investment made in January 2025, bringing VEON’s total commitment to USD 35 million over two years.

Mobilink Bank, a subsidiary of the Nasdaq-listed VEON Group, is expected to use the funding to scale its financing portfolio for micro, small and medium enterprises (MSMEs), expand its shariah-compliant banking products, and strengthen its digital infrastructure. The bank’s strategy includes increasing access to regulated financial services for underserved communities, with a particular focus on small businesses and women-led enterprises.

VEON Group operates in five countries and serves over 150 million connectivity customers globally. Its investment in Mobilink Bank aligns with broader efforts to develop technology-driven financial ecosystems in emerging markets.

Mobilink Bank’s leadership said the funding would accelerate its transition into a digitally native institution, supporting formalization of cash flows and access to credit for small businesses. The bank also plans to expand its women-centric financial products and green financing initiatives aimed at promoting inclusive growth.

Mobilink Bank works in tandem with JazzCash, one of Pakistan’s largest digital payment platforms, which serves over 57 million customers and is supported by a network of more than one million merchants and agents. In 2025, JazzCash processed gross transaction value exceeding PKR 15 trillion, reflecting the growing role of fintech in Pakistan’s financial inclusion efforts.

The investment comes amid continued growth in Pakistan’s digital banking sector, with international operators increasingly participating in the country’s financial services landscape.

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