Pakistan’s financial sector has just received massive news today. Mobilink Microfinance Bank (MMBL) has officially acquired the Digital Retail Bank (DRB) license from the State Bank of Pakistan (SBP). This major update marks a massive leap forward for digital banking in the country. Furthermore, this achievement highlights a resounding success for Pakistan’s rapidly evolving financial ecosystem.
Understanding the DRB License & What it Means for Mobilink Microfinance Bank
The State Bank of Pakistan (SBP) issues Digital Retail Bank permits under its dedicated digital banking framework. These specialized licenses focus strictly on retail customers, small-to-medium enterprises, and microfinance segments. Consequently, license holders operate entirely through digital platforms and mobile apps without physical brick-and-mortar branches. Additionally, the DRB license features a lower starting Minimum Capital Requirement that scales up to PKR 4 billion over a three-year transition period. The SBP previously awarded the country’s first DRB license to Easypaisa Digital Bank. Other pioneering charters include HugoBank, KT Bank Pakistan, Mashreq Pakistan, and Raqami Islamic Digital Bank.
MMBL launched its operations in 2012. Today, the institution serves more than 57 million registered users across Pakistan. VEON Microfinance Holdings B.V. owns 99.99% of the bank. Subsequently, the VEON Group injected $15 million into the bank in January 2025. VEON followed this up with another $20 million investment in January 2026. These funds actively support the bank’s digital expansion and Islamic banking infrastructure. Through these strategic investments, MMBL successfully delivered PKR 78.7 billion in revenue in 2025.
| Metric | Details |
| Founding Year | 2012 |
| Registered Users | 57 Million+ |
| Parent Company | VEON Microfinance Holdings B.V. (99.99%) |
| 2025 Revenue | Rs. 78.7 Billion |
| DRB Focus Segments | Retail, SMEs, Microfinance |
| Target Scaled Capital | Rs. 4 Billion |
JazzCash, Strategic Acquisitions & The Transition to Islamic Banking
MMBL powers extensive branchless banking services through arrangements with Pakistan Mobile Communications Limited and JC Fintech. For instance, consumers can now invest in government T-bills directly through the JazzCash app. Users can access these securities digitally for as low as PKR 5,000. Furthermore, the bank actively pursues industry consolidation. MMBL plans to acquire Apna Microfinance Bank. Negotiations remain ongoing, and the bank extended the deadline for its public offer announcement to December 7, 2026.
Pakistan actively accelerates its transition toward Islamic finance. Consequently, all lenders must convert to interest-free banking by December 2027. MMBL proactively launched its Islamic banking operations in late December 2025. The bank opened its first dedicated Islamic branch in Karachi and plans to add a second branch in Peshawar. CEO Haaris Mahmood Chaudhary states that the bank focuses heavily on small business financing, value chain financing, and digital agri-finance. Ultimately, this newly acquired DRB license empowers MMBL to scale these Sharia-compliant products directly to retail consumers nationwide.
