VEON's JazzCash and Mobilink Bank Bring Government Treasury Bills to Smartphones, Democratising Investment for Millions of Pakistanis

VEON (Nasdaq: VEON) announced that JazzCash and Mobilink Bank now offer direct investment in Pakistani Government 3‑month Treasury Bills via the JazzCash app, with a minimum ticket of PKR 5,000 (about USD 18).

Rhea-AI Summary

VEON (Nasdaq: VEON) announced that JazzCash and Mobilink Bank now offer direct investment in Pakistani Government 3‑month Treasury Bills via the JazzCash app, with a minimum ticket of PKR 5,000 (about USD 18).

The service targets one million active investors, leveraging JazzCash’s 60 million registered customers and PKR 16.8 trillion in transaction value (year to March 2026), expanding access to regulated, government-backed assets.

Positive

• New T-Bill product targeting one million active investors on JazzCash
• Minimum investment set at PKR 5,000, broadening accessibility
• JazzCash customer base of 60 million supports large distribution reach
• PKR 16.8 trillion GTV in year to March 2026 evidences high platform usage

Negative

• None.

Argus Jun 16 session

+1.18% close to close Open Argus

Details

News Market Reaction – VEON

On Jun 16, the day this news came out, VEON closed 1.18% above the previous close.

Data tracked by StockTitan Argus for the Jun 16 session.

Key Figures

Minimum T-Bill investment: PKR 5,000 Target active investors: 1,000,000 investors JazzCash customer base: 60 million +5 more

Minimum T-Bill investment

PKR 5,000

Entry ticket for Treasury Bills via JazzCash

Target active investors

1,000,000 investors

Stated ambition for JazzCash T-Bill product

JazzCash customer base

60 million

Registered JazzCash customers

JazzCash transaction value

PKR 16.8 trillion

Gross transaction value year to March 2026

JazzCash GTV (USD)

USD 59.7 billion

Dollar equivalent of PKR 16.8 trillion GTV

PSX investors

563,000 investors

Pakistan Stock Exchange investor count in May 2026

Existing public market participants

1.4 million

Participants across equities, mutual funds and commodities

T-Bill tenor

3-month

Initial Treasury Bill maturity offered on JazzCash

Historical Context

5 past events · Latest: Jun 11

5 events

1. Jun 11

   Digital marketplace launch

   24h Move

   +2.1%

   Kyivstar’s Uklon launched Uklon Store marketplace, adding new revenue streams.

2. Jun 10

   Content rights deal

   24h Move

   +0.4%

   Banglalink secured OTT rights to stream all 104 World Cup 2026 matches.

3. Jun 09

   Executive appointment

   24h Move

   +1.0%

   VEON appointed Serkan Ozturk as Chief of Staff & Strategy Officer.

4. Jun 05

   Small acquisition

   24h Move

   -0.3%

   Uklon agreed to acquire E-wings for UAH 97.6M, adding micromobility.

5. Jun 03

   Earnings date set

   24h Move

   -4.9%

   Company scheduled 2Q26 earnings release and conference call for July 31, 2026.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

treasury bills, digital financial services, custodian, trustee

4 terms

treasury bills financial

"can invest in 3-month Treasury Bills through a simple, secure journey"

Short-term government IOUs sold to raise cash, typically maturing within one year; investors buy them at a price below the face value and receive the full amount at maturity. They matter because they are one of the safest, most liquid places to park money, set a baseline for short-term interest rates, and serve as a low-risk anchor in portfolios much like a savings account backed by the government.

digital financial services financial

"its digital financial services companies JazzCash and Mobilink Bank have democratized"

Digital financial services are banking, payments, lending, investing and insurance products delivered over the internet or mobile apps instead of in-person branches. For investors, they matter because moving a financial business online can boost customer reach and lower operating costs—like shifting a brick-and-mortar store to a 24/7 online shop—but also brings technology, competition and regulatory risks that can change growth and profit prospects.

custodian financial

"Mobilink Bank acting as the regulated custodian and trustee"

A custodian is a financial institution that holds and safeguards an investor's assets—such as stocks, bonds, or cash—and records transactions on the investor's behalf. Think of it as a trusted caretaker or safe-deposit box for investments; it helps prevent loss or theft, handles paperwork and transfers, and provides transparency and regulatory checks, so investors can focus on decisions rather than the mechanics or security of asset storage.

trustee financial

"Mobilink Bank acting as the regulated custodian and trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Dubai, New York and Islamabad, June 16 2026 — VEON Ltd (Nasdaq: VEON), a global digital operator, today announced that its digital financial services companies JazzCash and Mobilink Bank have democratized investment opportunities in Pakistan by introducing Government Treasury Bills directly through the JazzCash app, starting from as little as PKR 5,000 (approx. USD 18). The initiative aims to reach one million active investors, working in coordination with the State Bank of Pakistan and the Ministry of Finance, Pakistan.

Government securities in Pakistan have traditionally been accessible only through banks and brokerages. Now, any eligible JazzCash customer with a verified account and an active Mobilink Bank deposit account can invest in 3-month Treasury Bills through a simple, secure journey built into an app they already use. 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 (approx. USD 59.7 billion), making this one of the largest digitally enabled retail investment channels in any emerging market.

The launch comes as Pakistan's appetite for investment is growing. The Pakistan Stock Exchange reached 563,000 investors for the first time in May 2026, following strong recent Gen Z participation. Treasury Bills on JazzCash open that door to millions more, extending formal investment access well beyond the country's approximately 1.4 million existing public market participants across equities, mutual funds and commodities.

The product was developed in collaboration with the Ministry of Finance and the State Bank of Pakistan, with Mobilink Bank acting as the regulated custodian and trustee. Plans to extend access to longer-maturity Treasury Bills are already underway.

"Digital financial services are helping Pakistan's economy expand and diversify, bringing more people into the formal financial system and unlocking new opportunities for them to thrive. By making investing in government treasury bills more accessible, we are giving people across Pakistan real tools to create, build and protect their wealth. We are proud to be partnering with the government on this initiative to help democratize investment access for millions of Pakistanis," said Kaan Terzioglu, CEO of VEON.

Muhammad Aurangzeb, Federal Minister for Finance and Revenue, said, “Under the Prime Minister’s vision for an inclusive digital economy, the Government is working to deepen Pakistan’s financial markets, mobilize domestic savings and expand citizens’ participation in the formal economy. A stronger economy requires more Pakistanis to have access to regulated financial assets beyond conventional savings products. By enabling investment in Government securities, starting with Treasury Bills (T-Bills) through a trusted digital platform such as JazzCash, this initiative translates that broader vision into practical access for citizens while helping build a wider and more diversified domestic investor base.”

"Inclusion cannot stop at payments. It must also give people access to tools that help them save, invest and build financial resilience. With T-Bills on the JazzCash app, we are bringing a secure, government-backed investment product into an everyday digital wallet, allowing customers to participate in formal financial markets through a journey that is simple, and intuitive," added Murtaza Ali, CEO, JazzCash.

The launch was held at JazzCash headquarters in Islamabad today. Kaan Terzioglu, CEO of VEON, joined virtually, alongside Senator Muhammad Aurangzeb, Federal Minister for Finance and Revenue; Khurram Schehzad, Adviser to the Finance Minister; Omer M. Khan, Adviser on Debt Management, Finance Division; Muhammad Khaliq Zaman, Director Domestic Debt Management, Finance Division; Aamir Ibrahim, Chairman of JazzCash and Mobilink Bank; Murtaza Ali, CEO of JazzCash; and Haaris Mahmood Chaudhary, CEO of Mobilink Bank.

About VEON

VEON is a digital operator that provides connectivity to over 150 million customers and digital services to more than 205 million users. Operating across five countries that are home to more than 6% of the world’s population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. VEON is listed on NASDAQ. For more information, visit: https://www.veon.com.

About JazzCash

JazzCash is Pakistan’s leading digital financial services platform, operating under a Branchless Banking charter and offering mobile wallet services in collaboration with Mobilink Microfinance Bank. It serves over 60 million customers across Pakistan, providing a broad portfolio of services including payments, lending, insurance, welfare disbursements, and government-to-person payments and government-backed investment products. For more information, please visit: www.jazzcash.com.pk

About Mobilink Microfinance Bank
Mobilink Microfinance Bank is Pakistan’s leading digital microfinance institution, committed to promoting financial inclusion through digital and branch-based banking services. The bank has been recognized for its institutional and digital capabilities, including being named Best Microfinance Bank at the Pakistan Banking Awards 2024 and winning the Best Digital Banking Services Award (Microfinance category) at the CFA Society Pakistan Annual Excellence Awards for three consecutive years. The Bank operates with a network of 114 branches. For more information, please visit: https://mobilinkbank.com/

Forward-Looking Statements

This release contains “forward-looking statements,” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, including in relation to our strategy and product offerings.

Contact Information 

VEON
pr@veon.com

 

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did VEON (VEON) announce about JazzCash Treasury Bills on June 16, 2026?

VEON announced that JazzCash now enables direct investment in Pakistani Government 3‑month Treasury Bills via its mobile app. According to VEON, eligible users can invest starting from PKR 5,000, integrating T‑Bills into a simple, secure digital journey.

What is the minimum investment for Government Treasury Bills on JazzCash for VEON users?

The minimum investment for Government Treasury Bills on JazzCash is PKR 5,000, about USD 18. According to VEON, this low entry point is designed to democratize access to regulated, government-backed assets for millions of Pakistani retail investors.

How many investors does VEON aim to reach with JazzCash T-Bills in Pakistan?

VEON aims for one million active investors using JazzCash to buy Government Treasury Bills. According to VEON, the initiative leverages JazzCash’s 60 million registered customers to extend formal investment access far beyond existing public market participants.

How large is the JazzCash platform supporting VEON’s new Treasury Bill offering?

JazzCash serves 60 million registered customers and processed PKR 16.8 trillion in gross transaction value in the year to March 2026. According to VEON, this scale makes JazzCash one of the largest digitally enabled retail investment channels in emerging markets.

Who are VEON’s key partners for the JazzCash Government Treasury Bill product?

The product is developed with Pakistan’s Ministry of Finance and the State Bank of Pakistan, with Mobilink Bank as custodian. According to VEON, this structure provides a regulated framework for offering government securities through the JazzCash mobile app.

Can JazzCash users invest in longer-maturity Treasury Bills under VEON’s plan?

Currently, JazzCash offers access to 3‑month Treasury Bills through the app. According to VEON, plans are underway to extend access to longer-maturity Treasury Bills, which would broaden the range of government securities available to retail investors.