PM Shehbaz inaugurates Mashreq Digital Bank in Islamabad

Islamabad (Web Desk): Prime Minister Shehbaz Sharif inaugurated the Mashreq Digital Bank in Islamabad on Tuesday, calling it a milestone for advancing cashless payments and strengthening the country’s financial sector. The ceremony was held alongside Mashreq Bank Chairman Abdul Aziz Al Ghurair.

Addressing the ceremony, the premier underlined that embracing digitalization is crucial for building a paperless economy and reducing unnecessary human involvement in transactions.

He welcomed the establishment of Pakistan’s second digital bank and extended appreciation to the United Arab Emirates for its steady support toward the nation’s economic and social development.

PM Shehbaz acknowledged the contributions of UAE business leaders in promoting stronger bilateral relations and lauded the expertise of Mashreq Bank’s team.

He stressed the need to promote growth in business, agriculture, industry, and the banking system, remarking that digital transformation has become essential for achieving economic progress.

The prime minister expressed confidence that the new initiative would enhance the delivery of modern and efficient financial services to citizens.

Speaking on the occasion, Finance Minister Muhammad Aurangzeb said that the arrival of Mashreq Digital Bank is a valuable addition to Pakistan’s financial landscape.

He explained that the government is working on reforms in areas such as energy, banking, and state-owned enterprises, with an emphasis on continuity and stability in policies.

In his remarks, Chairman of Mashreq Bank Abdul Aziz Al Ghurair said that Pakistan was chosen as the launch site for the bank’s first fully digital operation because of its strategic location and favorable environment for business and finance.

He added that Pakistan holds strong potential to become a significant digital economy in the region.