Mashreq Launches NEO BIZ in Pakistan to Support SMEs with Digital Banking

Mashreq has launched NEO BIZ in Pakistan to help small and medium-sized enterprises (SMEs), sole proprietors and self-employed professionals access integrated digital banking services. The new platform aims to simplify business finances and support growth across Pakistan’s digital economy.

Mashreq is one of the leading financial institutions in the Middle East and North Africa (MENA) region. Through NEO BIZ, the bank aims to address the changing needs of Pakistani businesses and expand access to digital financial services.

Pakistan’s SME Sector Offers Significant Potential

Pakistan has approximately 7.14 million micro, small and medium-sized enterprises (MSMEs). According to the Ministry of Industries and Production, these businesses contribute nearly 40% of GDP and 30% of exports. They also employ more than 80% of the country’s non-agricultural workforce.

However, many businesses still face challenges in accessing formal financing. Outstanding SME financing stood at approximately PKR 882 billion as of December 2025. This highlights the opportunity to improve financial inclusion and expand access to business banking services.

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NEO BIZ aims to address these gaps through digital tools and simplified financial management. The initiative also reflects Mashreq’s broader strategy of using technology to support business growth and cross-market collaboration.

Integrated Banking Services for Businesses

NEO BIZ combines digital business banking, payments, collections and value-added services in one platform. Eligible businesses can open and manage accounts digitally. This reduces reliance on branch visits and simplifies routine transactions.

The platform’s planned capabilities include business debit and virtual cards, payroll solutions, invoice-based payments and transaction analytics. Bookkeeping tools are also part of its broader roadmap.

Fernando Morillo, Group Head of Retail Banking at Mashreq, said digital-first banking models can improve business efficiency and access to financial services.

“NEO BIZ builds on this global experience, combining strong commercial capabilities with a scalable platform designed to meet the needs of SMEs,” Morillo said.

He added that Pakistan represents a high-potential market. The launch marks an important step in extending Mashreq’s global business banking proposition into the country’s evolving digital economy.

Mashreq Highlights Financial Inclusion

Muhammad Hamayun Sajjad, CEO of Mashreq Bank Pakistan, said the country’s SME sector remains dynamic but underserved. He identified gaps in access, awareness and digital capabilities as key challenges.

“With NEO BIZ, we are introducing a platform that is built specifically for the realities of this market,” Sajjad said. He added that the service aims to simplify banking, reduce dependence on physical channels and support businesses as they grow.

According to Sajjad, the launch also reflects Mashreq’s commitment to Pakistan. The bank aims to advance financial inclusion and support economic transformation through digital innovation.

Future Plans Include Business Support Services

Mashreq plans to expand NEO BIZ into a connected business ecosystem. Banking-as-a-Service (BaaS) capabilities and strategic partnerships will support this development.

The roadmap includes bookkeeping, supply chain solutions, tax facilitation, analytics, invoicing and cash flow-based financing. These services aim to help businesses manage daily operations and make better financial decisions.

Syed Jaffar Abbas Shirazi, Head of NEO BIZ at Mashreq Bank Pakistan, said the platform addresses challenges such as fragmented financial tools, limited product visibility and barriers to financing.

“Our approach is to bring everything into a single, integrated platform that allows businesses to manage their financial operations seamlessly,” Shirazi said.

He added that NEO BIZ aims to move beyond traditional banking. Its planned tools include instant account opening, payments, analytics, invoicing and bookkeeping.

Digital Channels to Expand Access

Mashreq will distribute NEO BIZ through digital channels, strategic partnerships and physical-digital, or phygital, touchpoints. This approach aims to reach businesses across Pakistan and expand the platform’s presence.

With the launch, Mashreq aims to encourage digital financial services among SMEs, strengthen digital payment acceptance and support entrepreneurs and self-employed professionals.

The bank expects NEO BIZ to contribute to a more inclusive and digitally connected economy as Pakistani businesses increasingly adopt digital financial solutions.