Pakistan’s digital banks offering Islamic financial services have attracted a growing customer base, reflecting strong early momentum as their asset base surged to nearly Rs 7 billion within just two months.

According to the State Bank of Pakistan (SBP), the total assets of digital banks rose to Rs 6.90 billion by the end of December 2025, marking an increase of 109.2 percent from Rs 3.30 billion recorded in September 2025.

Deposits also recorded a sharp rise, reaching Rs 1.48 billion in December 2025, compared to Rs 60 million in September 2025.

These figures highlight increasing public confidence in digital Islamic banking solutions, strengthening their role in promoting financial inclusion and accelerating the growth of Pakistan’s digital finance ecosystem.

Under the strategic guidance of the State Bank of Pakistan, two pioneering institutions—Raqami Islamic Digital Bank Limited and Mashreq Bank Pakistan Limited—began pilot operations in 2025. Mashreq Bank Pakistan Limited was granted a digital bank license with Islamic window operations during the previous quarter.

Pakistan’s banking sector has recently witnessed a significant acceleration in digital transformation, particularly with the expansion of Shariah-compliant financial services.

Meanwhile, easypaisa Digital Retail Bank also commenced operations in 2025 and reported a profit of Rs 17.04 billion during the year.

In addition, two more digital banks—Hugo Bank and Buraq Bank—are expected to begin commercial operations later this year, further expanding Pakistan’s digital banking landscape.