- Introduces Shariah-compliant Islamic remunerative current account with a market-first profit rate of up to 5% per annum
- Aims to serve 10 million Pakistanis in the next 5 years
Karachi, Pakistan – November 24, 2025: Mashreq, one of the leading financial institutions in the MENA region, has officially introduced Mashreq NEO in Pakistan, a fully digital and Shariah-compliant banking experience built around how Pakistanis live, save, and transact. Following the bank’s official launch under the patronage and in the presence of the Honorable Prime Minister of Pakistan, Muhammad Shehbaz Sharif, Mashreq NEO is now fully operational nationwide, offering a seamless, secure, and values-based digital banking experience for all Pakistanis, including the Non-Resident Pakistanis (NRPs).
As the country’s first Islamic-first digital banking platform, Mashreq NEO offers a modern and convenient way to manage their finances – from account opening in minutes to profit-bearing current and savings accounts, free digital transactions, and nationwide ATM access – removing paperwork, queues, and complex onboarding. The platform also introduces Shariah-compliant remunerative current account with a market-first profit rate for customers of up to 5% per annum and Islamic savings account delivering the best-in-market return of up to 10%, and competitive rates on conventional variants.
“Mashreq’s mission has always been to advance how people bank, save, and grow,” said Fernando Morillo, Group Head of Retail Banking at Mashreq& Chairman, Mashreq Bank Pakistan.“Mashreq has spent decades building trusted digital systems across the UAE, Egypt, and other key markets, demonstrating how digital transformation can unlock economic opportunity. The launch of Mashreq NEO underscores our long-term commitment to empowering individuals and businesses in one of the world’s most dynamic digital markets with our global innovation legacy.”
Mashreq NEO aims to become a trusted financial partner for salaried professionals, freelancers, women entrepreneurs, and overseas Pakistanis, through its personalized banking journeys and lifestyle rewards. The platform’s debit cards, powered by leading payment networks, bring customers exclusive access to discounts at more than 30,000 outlets nationwide, alongside secure, intuitive app-based controls. Mashreq NEO in Pakistan will also leverage the bank’s global infrastructure to allow instant account opening for NRPs based in the UAE, enabling faster and zero-fee remittances.
“Pakistanis have always found a way to adapt, innovate, and move forward. It’s time their banking did the same,”said Muhammad Hamayun Sajjad, CEO Mashreq Bank Pakistan. “With Mashreq NEO, we are combining global innovation with local insight to deliver a banking experience that reflects the values, habits, and aspirations of Pakistanis everywhere. Our Islamic-first digital model is designed to make everyday banking simple, transparent, and inclusive to empower customers to bank with trust and ease.”
Built on a cloud-based infrastructure aligned with State Bank of Pakistan regulations, Mashreq NEO applies international-grade security standards to ensure safety, scalability, and transparency across all transactions.
As Pakistan advances toward greater financial and digital inclusion, Mashreq NEO represents a bridge between global innovation and national progress, enabling more people to participate in the formal economy and benefit from secure, ethical and digitally intelligent banking in a connected economy.
About Mashreq:
Mashreq is more than half-century old, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers all the way to powering some of the region’s most prominent corporations and wealth accounts.
The bank’s mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them achieve their goals and unlock their vision of success.
Reassuringly present in major financial centres of the world, Mashreq’s home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers. Mashreq has been recognized as the fastest-growing Middle East brand, by Banking 500 rankings for 2024 by Brand Finance.
Find your way to Rise Every Day at: www.Mashreq.com/RiseEveryDay
For media inquiries, please write to: media@mashreq.com
