JazzCash and Mobilink Bank launch Treasury Bills on smartphones
VEON's JazzCash and Mobilink Bank have launched Government Treasury Bills on the JazzCash app, enabling investments from PKR 5,000. The initiative, supported by the State Bank of Pakistan and the Ministry of Finance, targets one million active investors. JazzCash serves 60 million customers and processed PKR 16.8 trillion in gross transaction value in the year to March 2026.

*this image is generated using AI for illustrative purposes only.
VEON Ltd's digital financial services companies JazzCash and Mobilink Bank have democratized investment opportunities in Pakistan by introducing Government Treasury Bills directly through the JazzCash app. The initiative allows eligible customers to invest in 3-month Treasury Bills starting from as little as PKR 5,000, aiming to reach one million active investors. This move, developed in collaboration with the State Bank of Pakistan and the Ministry of Finance, seeks to extend formal investment access beyond the country's approximately 1.4 million existing public market participants.
Government securities in Pakistan were previously accessible only through banks and brokerages. Now, any eligible JazzCash customer with a verified account and an active Mobilink Bank deposit account can invest through a simple, secure journey built into the app. JazzCash serves a registered customer base of 60 million and processed more than PKR 16.8 trillion in gross transaction value in the year to March 2026, making this one of the largest digitally enabled retail investment channels in any emerging market.
The launch aligns with Pakistan's growing appetite for investment, as the Pakistan Stock Exchange reached 563,000 investors for the first time in May 2026, driven by strong Gen Z participation. Treasury Bills on JazzCash aim to open the door to millions more, extending access to regulated financial assets beyond conventional savings products. Plans to extend access to longer-maturity Treasury Bills are already underway.
Mobilink Bank acts as the regulated custodian and trustee for the product. VEON CEO Kaan Terzioglu emphasized the role of digital financial services in expanding Pakistan's economy, stating that the initiative provides real tools for citizens to create, build, and protect wealth. Federal Minister for Finance and Revenue Muhammad Aurangzeb highlighted the government's vision for an inclusive digital economy, noting that the initiative helps mobilize domestic savings and expand citizens' participation in the formal economy.
JazzCash CEO Murtaza Ali added that inclusion must go beyond payments to offer tools for saving, investing, and building financial resilience. The launch was held at JazzCash headquarters in Islamabad, with key stakeholders including VEON's CEO, the Finance Minister, and advisers from the Finance Division in attendance. JazzCash operates under a Branchless Banking charter in collaboration with Mobilink Microfinance Bank, offering a broad portfolio of services including payments, lending, insurance, and government-backed investment products.
How will the introduction of longer-maturity Treasury Bills impact the retention rates of Gen Z investors currently focused on short-term options?
What competitive responses are expected from traditional banks and brokerages facing this disruption in the retail investment sector?
Could this model be replicated by VEON in other emerging markets within its portfolio to drive similar financial inclusion?



























