KARACHI: The State Bank of Pakistan (SBP) has granted the country’s first digital retail bank licence to Easypaisa Bank, formerly Telenor Microfinance Bank Ltd, allowing it to commence commercial operations.
At a ceremony held at the SBP, Governor Jameel Ahmad awarded the licence, highlighting the bank’s potential to drive financial innovation, expand financial inclusion, and provide affordable digital banking services. He reiterated SBP’s commitment to fostering a robust digital banking framework in Pakistan through a structured licensing process.
Easypaisa Bank was among five entities that received NOCs from SBP in January 2023, alongside HugoBank, KT Bank Pakistan Ltd, Mashreq Bank Pakistan Ltd, and Raqami Islamic Digital Bank Ltd. After securing in-principle approval in September 2023 and meeting all regulatory requirements, Easypaisa Bank is now set to launch its digital banking operations.
