Mobilink Microfinance Bank receives digital retail banking license

Mobilink Microfinance Bank (MMBL) has secured a No Objection Certificate (NOC) for a Digital Retail Bank (DRB) license from the State Bank of Pakistan (SBP). This license allows the institution to operate entirely through digital platforms and mobile applications, without the need for physical brick-and-mortar branches.

The DRB framework focuses on retail customers, small-to-medium enterprises, and microfinance segments. Under the SBP regulations, license holders must scale their minimum capital requirement to PKR 4 billion over a three-year transition period. MMBL, which is 99.99% owned by VEON Microfinance Holdings B.V., currently serves over 57 million registered users.

This development follows recent investments from the VEON Group, including $15 million in January 2025 and $20 million in January 2026, aimed at supporting digital expansion and Islamic banking infrastructure. MMBL reported PKR 78.7 billion in revenue for 2025.