In a groundbreaking move for the country’s financial sector, Mashreq Bank has officially launched its first full-service digital retail bank in Pakistan, expanding its award-winning digital banking platform beyond the UAE for the very first time. This marks a significant milestone in Pakistan’s journey toward modern, technology-driven financial services.
Shariah-Compliant Digital Banking
Mashreq’s new operations will provide fully Shariah-compliant banking through two dedicated platforms:
- Mashreq NEO for individual customers
- Mashreq NEOBiz for small and medium enterprises (SMEs)
These services promise 24/7 mobile-first banking, paperless processes, and zero-fee ATM withdrawals, ensuring customers enjoy seamless, convenient, and cost-effective banking experiences.
Key Features and Innovations
The digital bank integrates AI-driven risk controls, robust security protocols, and free debit cards, reflecting Mashreq’s commitment to safe, user-friendly banking. The mobile-first approach allows customers to perform transactions, manage accounts, and access financial tools anytime, anywhere—eliminating the need for traditional branch visits.
Convenience for Overseas Pakistanis
A unique advantage of this launch is the ability for overseas Pakistanis in the UAE to open accounts easily, streamlining seamless remittances and cross-border transactions. This feature is expected to attract a large expatriate community seeking faster, more efficient ways to support their families and investments back home.
Transforming Pakistan’s Banking Landscape
Industry experts view Mashreq’s entry as a catalyst for digital financial inclusion and increased competition in Pakistan’s banking sector. By offering innovative, mobile-based services, Mashreq aims to empower individuals and SMEs while setting a new benchmark for customer-centric digital banking in the region.
📌 Disclaimer: This article is for informational purposes only. Respective authorities are responsible for their services and commitments. The accompanying image is AI-generated for reference. Please visit Mashreq Bank’s official website for further details.
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