KARACHI: Mobilink Bank, the digital microfinance institution, has announced the launch of its Islamic banking operations to offer Shariah-compliant financial services in the country.

The launch was announced during VEON Group’s annual strategy session, ‘Ignite,’ in Abu Dhabi, following the bank’s receipt of an Islamic banking licence from the State Bank of Pakistan. The move will also allow JazzCash to introduce Islamic products, setting it on course to become Pakistan’s largest Shariah-compliant digital wallet.

In the first phase, the bank will roll out Shariah-compliant services through two dedicated Islamic banking branches in Karachi and Peshawar, supported by 10 Islamic banking windows. The network is expected to expand to 15 branches and 20 windows in the next phase.

Aamir Ibrahim, the chairman of Mobilink Bank and CEO of Jazz, said: “This licence enables Mobilink Bank to meet growing demand for Shariah-compliant microfinance solutions in Pakistan.”

Published in Dawn, November 21st, 2025