Easypaisa Bank Limited (formerly Telenor Microfinance Bank Limited) has been awarded the first Digital Retail Bank (DRB) license by the Governor of the State Bank of Pakistan (SBP), Jameel Ahmad.
The award was presented in a landmark ceremony held at the SBP in Karachi, authorizing the bank to commence commercial operations.
The DRB license to Easypaisa Bank Limited is expected to promote innovation, enhance financial inclusion, and ensure the availability of accessible and affordable digital financial services, according to the press release issued today.
The Governor of SBP underscored SBP’s strategic role in establishing the framework for digital banking in Pakistan and facilitating the development of digital banks through a structured licensing process.
He urged Easypaisa Bank Limited to draw inspiration from its sponsor, Ant Group, by prioritizing the digital transformation of small and medium enterprises (SMEs) in Pakistan.
The Governor also highlighted the critical importance of achieving licensing milestones.
He encouraged digital banks to innovate and design customer-centric solutions tailored to the needs of individuals, micro, small, and medium enterprises (MSMEs), and other underserved segments.
