Mashreq Launches NEO BIZ in Pakistan to Empower SMEs through Integrated Digital Banking

KARACHI – Mashreq, one of the Middle East and North Africa (MENA) region’s leading financial institutions, has officially launched NEO BIZ in Pakistan, a dedicated digital banking proposition designed to address the evolving needs of small and medium-sized enterprises (SMEs), sole proprietors and self-employed professionals, while helping unlock the country’s business potential.

Pakistan is home to approximately 7.14 million micro, small and medium-sized enterprises (MSMEs), contributing nearly 40% to GDP, 30% to exports and employing more than 80% of the non-agricultural workforce. Despite their significant contribution, access to formal financing remains limited. As of December 2025, outstanding SME financing stood at approximately PKR 882 billion. While access to credit has expanded, considerable opportunities remain to strengthen financial inclusion and provide businesses with accessible, digitally enabled financial services.

Positioned at the intersection of economic opportunity and digital transformation, NEO BIZ reflects Mashreq’s broader vision of enabling business growth through innovation and cross-market collaboration. Drawing on Mashreq’s international banking expertise, the proposition aims to simplify financial management for Pakistani businesses while supporting greater participation in the formal digital economy.

Fernando Morillo, Group Head of Retail Banking, Mashreq, added: “Across our international markets, we have seen how digital-first banking models can transform the way businesses operate, improving efficiency, transparency and access to financial services. NEO BIZ builds on this global experience, combining strong commercial capabilities with a scalable platform designed to meet the needs of SMEs. Pakistan represents a high-potential market and NEO BIZ is an important step in extending our global business banking proposition into a rapidly evolving digital economy.”

Designed as a comprehensive solution, NEO BIZ brings together digital business banking, payments, collections and an expanding range of value-added services within an integrated ecosystem. The proposition enables eligible businesses to open and manage accounts digitally, reducing reliance on branch visits and simplifying routine financial transactions. Its broader roadmap encompasses business debit and virtual cards, payroll solutions, invoice-based payments, transaction analytics and bookkeeping capabilities, supporting businesses as their operational and financial needs evolve.

Commenting on the local opportunity, Muhammad Hamayun Sajjad, CEO, Mashreq Bank Pakistan, said: “Pakistan’s SME sector is both dynamic and under-served, with significant gaps in access, awareness and digital capability. With NEO BIZ, we are introducing a platform that is built specifically for the realities of this market, one that simplifies banking, reduces dependency on physical channels and supports businesses as they grow. This launch is a natural extension of our commitment to Pakistan and aligns with our broader vision of enabling financial inclusion and supporting the country’s economic transformation through digital innovation.”

Beyond core banking, NEO BIZ is designed to progressively evolve into a connected business ecosystem through Banking-as-a-Service (BaaS) capabilities and strategic partnerships, with plans to integrate bookkeeping, supply chain solutions, tax facilitation, analytics, invoicing and cash flow-based financing. Through a phased approach, Mashreq aims to simplify operational complexities, enhance business efficiency and deliver solutions that respond to the evolving needs of entrepreneurs at different stages of growth.

Providing further detail on the proposition, Syed Jaffar Abbas Shirazi, Head of NEO BIZ, Mashreq Bank Pakistan, said: “NEO BIZ has been designed with a clear understanding of the challenges SMEs face today, from fragmented financial tools and limited product visibility to barriers in accessing financing. Our approach is to bring everything into a single, integrated platform that allows businesses to manage their financial operations seamlessly. From instant account opening and payments to advanced tools such as analytics, invoicing and bookkeeping, NEO BIZ is built to move beyond traditional banking and become a true business enabler.”

NEO BIZ will be distributed through a combination of digital channels, strategic partnerships and phygital touchpoints, ensuring accessibility across a diverse SME base and enabling Mashreq to scale its reach across Pakistan’s business ecosystem.

With this launch, Mashreq aims to accelerate the adoption of digital financial services among SMEs, strengthen digital payment acceptance, support entrepreneurs and self-employed professionals, and contribute to Pakistan’s transition toward a more inclusive, transparent and digitally connected economy.