ISLAMABAD: Mobilink Bank, Pakistan’s leading digital microfinance institution, has officially launched its Islamic banking operations, aiming to deliver responsible and Shariah-compliant financial services nationwide. The announcement was made during VEON Group’s annual strategy session, Ignite, held in Abu Dhabi, shortly after the Bank received its Islamic Banking License from the State Bank of Pakistan (SBP).
The milestone also paves the way for JazzCash to introduce Islamic financial products, positioning it to become the country’s largest Shariah-compliant digital wallet.
In the initial rollout, Mobilink Bank will offer Islamic banking services through two dedicated branches in Karachi and Peshawar, along with ten Islamic banking windows. The Bank plans to expand this network to 15 branches and 20 windows in the next phase.
Aamir Ibrahim, Chairman of Mobilink Bank and CEO of Jazz, said the launch would help address rising demand for Shariah-compliant microfinance solutions across Pakistan.
“This license enables Mobilink Bank to meet the growing demand for Shariah-compliant microfinance solutions in Pakistan. By providing faith-aligned products tailored to the microfinance segment, we can help address financing constraints faced by SMEs and contribute to greater economic participation in underserved communities,” he noted.
Mobilink Bank President and CEO Haaris Mahmood Chaudhary said the move reflects the organization’s commitment to strengthening financial inclusion.
“This launch is a meaningful step forward in our journey to build an inclusive financial ecosystem powered by digital-first, future-ready solutions,” he said. “By extending Shariah-compliant offerings, we are broadening financial choice for communities that have long remained underserved. Our Islamic banking portfolio is designed to provide reliable, transparent, and faith-aligned products that empower customers to participate in the formal economy.”
As part of the launch, the Bank introduced three Shariah-compliant products aligned with Islamic financial principles:
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‘Takmeel’ Current Account – Supporting everyday transactions within a Shariah-guided framework
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‘Yaqeen’ Savings Account – Offering customers a secure, faith-aligned savings solution
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‘Umeed’ Murabaha Financing – Providing halal and transparent financing for individual and household needs
These products form the initial portfolio for Islamic banking services and will be rolled out nationwide in phases.
Mobilink Bank also plans to introduce a comprehensive suite of Shariah-compliant digital products in the coming months, further strengthening its vision of advancing financial inclusion through responsible innovation and customer-centric service.
