Mashreq has launched NEO BIZ in Pakistan, a digital banking proposition designed for small and medium-sized enterprises (SMEs), sole proprietors and self-employed professionals. The platform brings business banking, payments and collections into an integrated digital environment, aiming to simplify routine financial operations for businesses. The launch comes as Pakistan’s micro, small and medium-sized enterprise sector continues to face challenges in accessing formal financing and digital financial services. According to figures cited in the launch announcement, the country has approximately 7.14 million MSMEs, contributing nearly 40% of gross domestic product and 30% of exports while employing more than 80% of the non-agricultural workforce. Despite this economic contribution, outstanding SME financing stood at around PKR 882 billion as of December 2025. Mashreq says NEO BIZ is intended to make business banking more accessible and help companies manage their finances through digital channels rather than relying primarily on traditional branch-based processes.
NEO BIZ allows eligible businesses to open and manage accounts digitally, reducing the need to visit a bank branch for routine banking requirements. The proposition combines business account services with payments and collections, enabling businesses to manage transactions with suppliers, vendors and customers through a single platform. Mashreq’s Pakistan offering includes Islamic current and savings accounts, extending Shariah-compliant banking services to business customers. According to the bank’s published product information, eligible sole proprietors and self-employed individuals can apply digitally using a valid Computerised National Identity Card (CNIC) and an active National Tax Number (NTN), subject to the applicable eligibility criteria. The digital account-opening process is designed to be completed in approximately 10 minutes, although additional verification may take longer for some applicants. By bringing account access and transaction services together, the bank aims to reduce administrative friction for smaller businesses that need reliable ways to receive payments, transfer funds and manage day-to-day financial activity.
The launch also includes plans to expand NEO BIZ beyond its initial banking and payment functions. Mashreq’s broader product roadmap includes business debit and virtual cards, payroll services, invoice-based payments, transaction analytics and bookkeeping capabilities. The bank also intends to develop the platform through Banking-as-a-Service (BaaS) capabilities and strategic partnerships, with potential additions including supply chain solutions, tax facilitation, invoicing and cash-flow-based financing. These features are planned as part of a phased expansion, and the bank has not indicated that every service is available at launch. If implemented, the additional tools could help businesses consolidate activities that are often managed through separate banking, accounting and administrative systems. Transaction analytics and bookkeeping, for example, may help business owners monitor cash movement and maintain better records, while invoice-related services could support the management of receivables and payments. The eventual value of these capabilities will depend on their availability, integration and suitability for different types of businesses.
NEO BIZ will be distributed through digital channels, strategic partnerships and physical-digital touchpoints, allowing Mashreq to reach businesses with different levels of digital readiness. Muhammad Hamayun Sajjad, CEO of Mashreq Bank Pakistan, said the SME sector remains underserved in areas including access, awareness and digital capability. Fernando Morillo, Group Head of Retail Banking at Mashreq, described the launch as an extension of the bank’s digital-first business banking experience into Pakistan. The platform’s focus on integrated services reflects a wider shift in business banking, where financial institutions are increasingly combining account management, payment processing and operational tools in a single digital offering. However, digital access alone does not resolve every challenge faced by SMEs, particularly where businesses need affordable financing, financial literacy or support with formal documentation. NEO BIZ’s progress will therefore depend on customer adoption, the delivery of planned features and the platform’s ability to meet the practical needs of Pakistani entrepreneurs. The launch establishes Mashreq’s new digital business banking offering in Pakistan, with further developments expected as the service evolves.
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