Mashreq announces incorporation in Pakistan to drive digitisation

Mashreq has revealed its successful incorporation in Pakistan as it looks to drive digitisation and financial inclusion.

The move comes as part of the firm’s wider expansion strategy, which is set to see it target high-growth markets in order to improve digitisation and financial inclusion in the respective area.

The Dubai-based organisation is committed to fostering growth across Pakistan by utilising local talent and expertise. Mashreq aims to do so by creating a digital eco-system supported by robust infrastructure and institutional frameworks their attempt to drive digital innovation and significantly enhance financial inclusivity in the country.

Fernando Morillo, Group Head of Retail Banking at Mashreq, said: “Our foray into Pakistan is a pivotal moment for Mashreq, marking a new chapter in our strategic expansion. We eagerly anticipate the opportunities to collaborate with local stakeholders and contribute towards a robust digital ecosystem that will transform the country’s financial landscape.

“We are committed to playing a vital role in the country’s digitisation efforts and financial development, particularly in the sectors of SME, payments, and inclusion.

“The bank’s tech-ready infrastructure, coupled with its digital DNA, will be leveraged to empower customers in the market, meet their evolving needs, deliver seamless banking experiences and support the country’s vision of a financially inclusive, digitally led economy.”

Mashreq has already established a Centre of Excellence (CoE) in Pakistan to deliver a portfolio of innovative products. Leveraging its successful incorporation in Pakistan, in hopes that its involvement in the country can lay the foundation for a partnership that benefits consumers, businesses, and the economy.

To commemorate the expansion, a high-level Mashreq delegation including senior members of the executive committee, visited Pakistan to strengthen ties and consider collaboration to recognise this momentous milestone alongside independent board members Syed Naseer Hassan and Rashid Khan.

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