KARACHI: Mashreq 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.
Under Mashreq NEO BIZ, entrepreneurs can open a business account in just 10 minutes through the mobile app, without visiting a bank branch or office. The digital account-opening process is designed to provide entrepreneurs with a convenient and hassle-free banking experience, enabling them to access banking services quickly and efficiently.
Mashreq NEO BIZ account holders can also benefit from a range of complimentary services, including a free cheque book, fund transfer, bill payments and debit card, as well as freedom from ATM transaction charges with a daily transfer limit of Rs 30 million.
NEO BIZ brings together digital business banking, payments, collections and an expanding range of value-added services within an integrated ecosystem. 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.
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.
Addressing the NEO BIZ launching ceremony, Fernando Morillo, Group Head of Retail Banking, Mashreq, said that NEO BIZ builds on this global experience, combining strong commercial capabilities with a scalable platform designed to meet the needs of SMEs.
Muhammad Hamayun Sajjad, CEO, Mashreq Bank Pakistan, said that 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”, he added.
He said that this launch is a natural extension of Mashreq commitment to Pakistan and aligns with our broader vision of enabling financial inclusion and supporting the country’s economic transformation through digital innovation.”
Hamayun said that 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.
Providing further detail on the proposition, Syed Jaffar Abbas Shirazi, Head of NEO BIZ, Mashreq Bank Pakistan, said that 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”, he added.
NEO BIZ will be distributed through a combination of digital channels, strategic partnerships and physical touch points, 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.
Copyright Business Recorder, 2026