Pakistan’s leading digital microfinance institution, Mobilink Bank, has announced the launch of its Islamic banking operations, signaling a significant step toward expanding Shariah-compliant financial services in the country. The announcement was made during the VEON group’s annual strategy session ‘Ignite’ held in Abu Dhabi, following the Bank’s approval of an Islamic Banking License by the State Bank of Pakistan (SBP). This landmark achievement will also allow JazzCash, Mobilink Bank’s digital payment platform, to introduce Islamic financial products, positioning it to become the largest Shariah-compliant digital wallet in Pakistan.
In the initial phase, Mobilink Bank will roll out Shariah-compliant services through two dedicated Islamic banking branches in Karachi and Peshawar, complemented by ten Islamic banking windows. The Bank plans to expand this network to fifteen branches and twenty windows in the next phase, aiming to create a widespread infrastructure for digital Islamic banking across the country.
Aamir Ibrahim, Chairman of Mobilink Bank and CEO of Jazz, highlighted the strategic significance of this move, stating that the license enables the Bank to address the growing demand for Shariah-compliant microfinance solutions in Pakistan. He emphasized that faith-aligned products tailored to microfinance clients can help overcome financing constraints faced by small and medium-sized enterprises (SMEs) while fostering greater economic participation in underserved communities.
Haaris Mahmood Chaudhary, President and CEO of Mobilink Bank, added that the launch represents a crucial milestone in the Bank’s journey to build an inclusive financial ecosystem through digital-first and future-ready solutions. By offering Shariah-compliant products, Mobilink Bank is broadening financial choice for communities that have traditionally remained underserved. The Bank’s Islamic banking portfolio is designed to provide reliable, transparent, and faith-aligned solutions that enable customers to engage confidently with the formal economy.
As part of the launch, Mobilink Bank unveiled three Shariah-compliant products. The current account, named ‘Takmeel,’ allows customers to perform everyday transactions under a Shariah-guided framework. The savings account, ‘Yaqeen,’ provides a secure avenue for managing deposits, while the Murabaha financing product, ‘Umeed,’ offers transparent and halal funding for individual and household financial needs. These initial offerings form the foundation of Mobilink Bank’s Islamic banking operations and will be rolled out in phases to cover a wider customer base nationwide.
Looking ahead, Mobilink Bank plans to expand its Islamic product portfolio further, offering a comprehensive suite of Shariah-compliant digital solutions. This initiative supports the Bank’s broader vision of enhancing financial inclusion in Pakistan through responsible innovation and customer-focused service delivery. Analysts suggest that Mobilink Bank’s entry into digital Islamic banking could set a precedent for other fintech players, accelerating the adoption of Shariah-compliant financial products and strengthening Pakistan’s position in the growing digital microfinance sector.
The launch of Mobilink Bank’s Islamic banking operations represents a convergence of technology, financial inclusion, and ethical finance, reflecting a new era where underserved communities can access faith-aligned, digitally enabled financial services with transparency and convenience.
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