- Bank’s innovation in digital banking and Shariah-compliant finance drives financial transformation and supports women entrepreneurs
Interview with Mohammed Adil Sami — Head of Marketing, Meezan Bank
PAGE: Tell me something about yourself, please:
Mohammed Adil Sami: I currently serve as the Head of Marketing at Meezan Bank, Pakistan’s first, largest, and most prestigious Islamic bank, which has been recognised as the Best Bank in Pakistan in 2018, 2020, 2023, and 2024. With nearly two decades of experience in the financial services industry, my career has focused on crafting impactful communication strategies, driving robust marketing campaigns, and positioning Islamic banking as the preferred choice in Pakistan. I have had the privilege of leading the marketing efforts at a bank that is a pioneer of Islamic banking in the country, which allows us to set new standards.
My focus has always been to work within the principles of Shariah on marketing strategies, creating campaigns that are not only Shariah-compliant but also elevate Meezan Bank’s brand equity, visibility and credibility.
PAGE: A substantial number of adult Pakistanis have been financially included over a decade in particular. Your perspective, please:
Mohammed Adil Sami: In my view, the journey towards financial inclusion in Pakistan began in 2002 with the launch of Meezan Bank and Islamic banking. Prior to that, many individuals were hesitant to engage with the banking sector, driven by concerns over interest and faith-based considerations. Meezan Bank became not just a disruptor in Pakistan’s financial and banking landscape, but also a key enabler of financial inclusion.
Over the past decade, Pakistan has made remarkable progress in this area, with significant contributions from Meezan Bank and other banks, microfinance institutions and fintech companies. The share of the adult population with bank accounts has grown from just 16% in 2015 to 64% by the close of 2023 *.
Initiatives by the State Bank of Pakistan, such as the National Financial Inclusion Strategy, have been instrumental in integrating millions into the formal financial system. However, financial inclusion extends beyond merely opening accounts. It’s about providing access to financial services that empower individuals — whether through financing for small businesses, Takaful (Islamic insurance) for low-income families or savings solutions for the unbanked. The rise of digital banking, mobile wallets and agent banking networks have played an important part in this shift. Going forward, the focus must be on ensuring these solutions are accessible, reliable and affordable for the masses. With innovations such as digital account opening, Asaan Mobile Account and RAAST, further growth in financial inclusion is expected.
PAGE: Is Pakistan’s financial services ecosystem still underdeveloped?
Mohammed Adil Sami: While Pakistan has made considerable progress, I believe the financial ecosystem remains in a developmental phase and has a lot of untapped potential. The key challenges include extending formal financial services to remote and underserved regions, bridging the gap in digital literacy, and addressing infrastructure limitations. That said, we stand on the brink of a major transformation. The rise of digital platforms, fintech startups, and collaborations between banks and technology providers is rapidly evolving the ecosystem. The next phase will require increased investment in technology, regulatory frameworks that foster innovation, and a concerted focus on customer education.
Islamic finance will continue to play a pivotal role, offering a sustainable and inclusive financial model, especially with the introduction of digital-only banks in Pakistan — one such bank, which will operate exclusively under Islamic principles, has generated significant anticipation ahead of its launch.
PAGE: How would you comment on financial inclusion for women entrepreneurs?
Mohammed Adil Sami: Financial inclusion for women, particularly entrepreneurs, represents a great opportunity in Pakistan. Despite comprising nearly half of the population, women’s participation in the formal economy remains limited. We need to dismantle the cultural and systemic barriers that hinder women’s access to financing, savings, and Takaful (Islamic insurance). As of December 2023, 31 million adult women had at least one bank account, compared to just 13 million in 2018. This represents a significant increase in financial inclusion, from 34% in 2018 to 47% in 2023*, driven largely by initiatives like the State Bank’s Banking on Equality policy, which has been a game-changer in advancing women’s access to financial services.
Meezan Bank, alongside other institutions, has developed women-centric products and services, and we are continuously working to design solutions that specifically meet the needs of women managers and entrepreneurs. Financial literacy programs are essential to building confidence and capability, while digital banking tools are increasingly empowering women to take control of their financial matters.
PAGE: How has technology helped financial inclusion in Pakistan?
Mohammed Adil Sami: Technology has been a transformative force for financial inclusion in Pakistan. The proliferation of mobile banking, fintech innovations and digital payment systems has extended financial services to millions of individuals who previously lacked access. The widespread availability of mobile phones has empowered people, even in the most remote areas, to participate in the formal economy through mobile wallets and branchless banking agents.
At Meezan Bank, we have long prioritised customer service and recognized technology as a critical driver of our strategy. Our focus on innovation has played a pivotal role in this journey. As early adopters of online and internet banking, we introduced Pakistan’s highest-rated mobile banking application and a state-of-the-art backend technology system. This proactive approach has not only allowed us to embrace digital transformation but also to lead it. Currently, around 50% of payment transactions in Pakistan (excluding ATM withdrawals) are conducted digitally, with the plans to exceed 80% by 2028*.
Moreover, the State Bank of Pakistan (SBP), has launched multiple initiatives through its National Financial Inclusion Strategy (NFIS) 2023, to broaden financial inclusion by leveraging technology. These initiatives, including the Asaan Mobile Account (AMA) Scheme, Digital Onboarding Framework, RAAST, Roshan Digital Account (RDA), and licenses for digital-only banks, are designed to make financial services more accessible, secure, and convenient. Looking ahead, the challenge will be to continuously innovate in ways that simplify access, improve service quality, build trust, and address the diverse needs of the population. Meezan Bank remains committed to staying at the forefront of this transformation, ensuring that digital solutions are inclusive, reliable and affordable for all.
Source: State Bank of Pakistan’s National Financial Inclusion Strategy 2024-28