Islamabad: Prime Minister Shehbaz Sharif inaugurated Mashreq Digital Bank in Islamabad, marking a significant step towards promoting cashless transactions and advancing Pakistan’s financial sector.

According to Radio Pakistan, the inauguration was made jointly with Chairman of Mashreq Bank, Abdul Aziz Al Ghurair. Addressing the ceremony, the Prime Minister emphasized that digitalization is essential for fostering a paperless economy and reducing human intervention. He welcomed the establishment of Mashreq Digital Bank as Pakistan’s second digital bank and acknowledged the United Arab Emirates’ consistent support for the country’s economic and social progress.

The Prime Minister highlighted the vital role of UAE business leaders in enhancing Pakistan-UAE relations and praised the capabilities of the Mashreq Bank team. He underscored the importance of promoting business, agriculture, industrial activity, and the banking system across Pakistan. He noted that this is the era of digital transformation, and leveraging modern technology can significantly boost economic growth.

The Prime Minister expressed optimism that the launch of Mashreq Bank will bring meaningful improvements in delivering high-quality financial services to the public. Addressing the event, Finance Minister Muhammad Aurangzeb welcomed Mashreq Digital Bank’s entry into Pakistan’s financial landscape. He stated that the government is implementing administrative reforms and undertaking initiatives in energy, banking, and state-owned enterprises, with a strong focus on policy continuity.

Chairman of Mashreq Bank Abdul Aziz Al Ghurair, in his remarks, said that Pakistan was chosen for the launch of Mashreq’s first fully digital bank due to its strategic location and favorable environment for business and financial activities. He affirmed that Pakistan has the potential to become a digital economic powerhouse.