UAE-based banking group Mashreq has teamed up with Mastercard to support its planned digital bank launch in Pakistan.

The multi-year strategic partnership will aim to introduce a range of digital offerings to Pakistani consumers and businesses.

The collaboration announcement comes two months after Mashreq Pakistan secured a restricted licence from the State Bank of Pakistan (SBP) enabling it to begin pilot operations as a digital retail bank in the country.

The bank said at the time that its Pakistan business aims to “onboard millions of retail customers catering to all their personal and business needs” over the next five years.

With its entry into Pakistan, Mashreq now operates in 14 countries.

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