Pakistan

Karachi – January 02, 2026: Global digital operator VEON Group has announced an investment of USD 20 million in Mobilink Bank to support its growth and digital Islamic banking expansion in Pakistan. The investment builds on USD 15 million capital deployed by VEON in January 2025 and underscores its confidence in Mobilink Bank’s growth momentum and its integrated digital financial ecosystem with JazzCash, amid the rapid expansion of Pakistan’s digital banking and microfinance sector. Mobilink Bank is a part of VEON Group, a global digital operator that provides services to over 150 million connectivity customers and over 140 million monthly active digital users. VEON Group (Nasdaq: VEON) is a Nasdaq-listed company that operates across five countries that are home to more than 6% of the world’s population. Read More: https://theboardroompk.com/jazzcash-reaches-57-million-customers-processes-massive-pkr-15-trillion-in-2025/ The capital will be used to scale Mobilink Bank’s MSME financing portfolio, advance its Islamic banking offerings, and strengthen its evolution into a technology-driven, digitally native bank, with a continued focus on expanding regulated financial access for underserved communities, particularly small businesses and women. The investment reflects VEON Group’s broader digital strategy of strengthening high-impact financial ecosystems through technology-led solutions and disciplined capital deployment, positioning Mobilink Bank as a key contributor to Pakistan’s evolving financial sector. Commenting on the development, VEON Group Executive Committee Member and Chairman Mobilink Bank, Aamir Ibrahim, said: “This continued stream of investment from VEON underscores our long-term commitment to Pakistan and confidence in the structural shift underway in the country’s digital financial services ecosystem. It strengthens Mobilink Bank and JazzCash’s ability to execute on our strategic priorities, invest in resilient technology infrastructure, and contribute to the development of inclusive and sustainable digital banking.” Haaris Mahmood Chaudhary, President and CEO Mobilink Bank, added: “This investment will accelerate the expansion of our shariah-compliant Islamic banking offerings, helping small businesses formalize cash flows, access regulated credit, and build long-term financial resilience. As a future-ready digital bank, our focus remains on delivering practical, technology-enabled financial solutions that empower entrepreneurs – particularly women and underserved communities – across Pakistan.” Mobilink Bank’s expanding deposit base and MSME-oriented lending portfolio are enabling small businesses to transition from informal cash usage to regulated banking, while targeted women-centric financial products and green financing initiatives support inclusive growth and resilience in the face of Pakistan’s climate and economic challenges. Mobilink Bank, together with JazzCash, which serves over 57 million customers and is supported by a nationwide network of more than one million merchants and agents, anchors one of Pakistan’s largest digital financial ecosystems. During the year, JazzCash processed gross transaction value exceeding PKR 15 trillion, underscoring the scale, resilience, and impact of fintech in advancing financial inclusion, social mobility, and responsible digital innovation across Pakistan.

ISLAMABAD, Jan 2: The Competition Commission of Pakistan (CCP) has imposed a penalty of PKR 150 million on Mezan Beverages (Private) Limited. The company was found to have imitated the packaging and trade dress of PepsiCo’s Sting energy drink, thereby engaging in deceptive marketing practices in violation of Section 10 of the Competition Act, 2010.The Commission held that Mezan’s “Storm” energy drink fraudulently copied the overall look, feel, colour scheme, bottle design, and branding elements of Sting, creating a likelihood of consumer confusion at the point of sale. The order concluded that such conduct amounted to parasitic copying and constituted deceptive marketing prohibited under Pakistan’s competition law. Long Legal Battle and Delay Tactics The case dates back to 2018, when PepsiCo Inc. filed a complaint alleging that Mezan’s Storm energy drink was designed to imitate Sting and benefit from PepsiCo’s goodwill.Instead of responding on merits, Mezan repeatedly challenged CCP’s jurisdiction and initiated prolonged litigation. Mezan obtained stay orders from the Lahore High Court in 2018 and 2021, delaying the inquiry for several years.In June 2024, the Lahore High Court dismissed Mezan’s petition, upheld the CCP’s authority, and ruled that early challenges to show-cause notices were not maintainable. The Court also clarified that proceedings under the Competition Act are separate from trademark cases. The Court ruled that challenging a show-cause notice at an early stage was not maintainable and observed that Mezan had used litigation to delay regulatory proceedings. Findings of Deceptive Marketing In its detailed order, the CCP found that Mezan’s Storm energy drink adopted:• A red-dominant colour scheme identical to Sting• Bold, slanted white lettering with aggressive visual motifs• Near-identical bottle shape and presentation• Branding elements likely to mislead an ordinary consumer with imperfect recollection The Commission emphasized that deception is assessed based on the overall commercial impression, not minute differences examined side by side. Even though Mezan held a registered trademark for “Storm,” the CCP ruled that trademark registration does not grant immunity from competition law where consumer deception and passing-off are established.The Commission, while imposing the PKR 150 million penalty, stated that copycat branding and misleading packaging will not be tolerated, regardless of the size or local status of the company.