Mobilink Bank, a leading digital microfinance institution in Pakistan, has earned the distinguished title of ‘Best Digital Banking Services’ in the Microfinance Category at the 21st Annual Excellence Awards hosted by CFA Society Pakistan. This accolade marks the Bank’s second consecutive year of receiving this honor, reinforcing its status as a frontrunner in digital banking innovation.
In 2024, Mobilink Bank has achieved significant milestones in its digital channels, recording a remarkable 56% growth. The bank’s monthly transactions through its digital platforms now exceed PKR 20 billion, reflecting a 50% increase from previous figures.
The Dost app, a standout feature of Mobilink Bank’s digital offerings, has seen impressive results, with PKR 4.5 billion booked in loans, representing a staggering 422% growth. Furthermore, Mobilink Bank is distinguished as the only microfinance institution providing real-time, AI-based account opening through its Dost App, setting a new standard in the industry.
Alongside Mobilink Bank’s achievements, JazzCash, Pakistan’s leading fintech platform, has experienced a significant 83% year-over-year surge in service revenue. This growth is attributed to a Gross Transaction Value of PKR 7.4 trillion in the second quarter of 2024. JazzCash’s extensive network, including 252,000 registered agents and over 357,000 merchants, has played a crucial role in advancing digitalization and transforming the financial landscape in Pakistan.
Haaris Mahmood Chaudhary, Interim CEO of Mobilink Bank, emphasized the bank’s commitment to innovation and customer-centric solutions. “Our digital offerings reflect our vision for a future-ready bank, designed to meet the evolving needs of our customers,” Chaudhary said. The introduction of the ‘Inheritance Calculator’—a first-of-its-kind tool within the Dost app—highlights the bank’s dedication to empowering individuals, particularly women, through advanced technology.
Mobilink Bank’s efforts extend beyond digital services, as it also leads in promoting gender equality and financial inclusion. The Bank topped the State Bank of Pakistan’s Women Friendliness Grid scorecard, underscoring its commitment to advancing gender equity and supporting women, especially in the Micro, Small, and Medium Enterprises (MSME) sector.
Looking forward, Mobilink Bank aims to revolutionize the microfinance sector with its state-of-the-art digital solutions. The bank is focused on extending premium financial services to remote and underserved areas, where traditional banking options are limited. This strategy is particularly impactful for women who often face barriers to accessing formal financial systems.
As part of the VEON group—a global digital operator serving nearly 160 million customers across six dynamic markets—Mobilink Bank is committed to providing innovative connectivity and digital services. The VEON group’s expansive reach underscores Mobilink Bank’s potential to drive financial inclusion and digital advancement on a broader scale.
In summary, Mobilink Bank’s latest accolades and advancements highlight its leading role in the digital banking sector and its ongoing commitment to enhancing financial access and inclusion across Pakistan.
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