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

Mashreq, a prominent financial institution in the Middle East and North Africa (MENA) region, has introduced NEO BIZ in Pakistan. This digital banking solution targets small and medium-sized enterprises (SMEs), sole proprietors, and self-employed professionals, aiming to unlock the country's business potential. Pakistan hosts around 7.14 million MSMEs, which contribute approximately 40% to the GDP, 30% to exports, and employ over 80% of the non-agricultural workforce.

Despite their significant role, these businesses often face challenges in accessing formal financing, with outstanding SME financing amounting to about PKR 882 billion as of December 2025.

NEO BIZ is positioned at the intersection of economic opportunities and digital transformation, embodying Mashreq's strategy to foster business growth via innovation and cross-market collaboration. Leveraging the international banking expertise of Mashreq, this proposition seeks to streamline financial management for Pakistani businesses and promote their integration into the formal digital economy.

Fernando Morillo, Group Head of Retail Banking, Mashreq, notes that digital-first banking models have transformed business operations internationally, improving efficiency, transparency, and access to financial services. NEO BIZ capitalizes on this global experience, offering a scalable platform to cater to the specific needs of SMEs.

As a comprehensive solution, NEO BIZ integrates digital business banking, payments, collections, and a growing suite of value-added services within an interconnected ecosystem. Eligible businesses can open and manage accounts digitally, minimizing branch visits and streamlining routine financial transactions. The platform's future roadmap includes additional services such as debit and virtual cards, payroll solutions, invoice-based payments, transaction analytics, and bookkeeping capabilities, adapting to the evolving operational and financial requirements of businesses.

Muhammad Hamayun Sajjad, CEO of Mashreq Bank Pakistan, emphasizes that Pakistan's SME sector is dynamic yet under-served, with significant gaps in access, awareness, and digital capabilities. NEO BIZ addresses these issues by providing a market-specific platform that simplifies banking, reduces the need for physical channels, and supports business growth. This launch aligns with Mashreq's broader commitment to financial inclusion and Pakistan's economic transformation through digital innovation.

Looking ahead, NEO BIZ is poised to evolve into a connected business ecosystem through Banking-as-a-Service (BaaS) capabilities and strategic partnerships. These partnerships will enable the integration of services such as bookkeeping, supply chain solutions, tax facilitation, analytics, invoicing, and cash flow-based financing.

Mashreq plans to implement this solution in phases, aiming to simplify operational complexities, enhance business efficiency, and deliver tailored solutions that meet the diverse needs of entrepreneurs at various growth stages.

Syed Jaffar Abbas Shirazi, Head of NEO BIZ at Mashreq Bank Pakistan, explains that NEO BIZ is tailored to the challenges SMEs face today, including fragmented financial tools, limited product visibility, and barriers to financing. The platform aims to provide a single, integrated solution for managing financial operations, from instant account opening and payments to advanced tools like analytics, invoicing, and bookkeeping. By moving beyond traditional banking, NEO BIZ seeks to become a genuine business enabler for SMEs.

NEO BIZ will be accessible through a mix of digital channels, strategic partnerships, and phygital touchpoints, ensuring that it reaches a broad range of SMEs across Pakistan. This approach supports Mashreq's goal of accelerating digital financial service adoption among SMEs, bolstering digital payment acceptance, assisting entrepreneurs and self-employed professionals, and contributing to Pakistan's shift toward a more inclusive, transparent, and digitally connected economy.