Pakistan’s central bank recently granted HugoBank a digital banking licence, allowing it to offer a range of services to unbanked citizens in the country
HugoBank, a Pakistan-based digital bank, has appointed Atyab Tahir as its chief executive officer.
Tahir will set up and lead HugoBank in Pakistan to offer digital services to consumers and small businesses across the country, once he receives regulatory approval.
Prior to HugoBank, Tahir led mobile payment company Jazzcash and worked as a country head for Mastercard. He also held positions with Tameer Bank and HBL.
HugoBank is a joint venture led by Singapore’s Atlas Consolidated, which owns and operates savings app Hugosave.
Pakistan’s central bank recently granted HugoBank a digital banking licence, allowing it to offer a range of services to unbanked citizens in the country.
The consortium aims to help Pakistan to achieve an 85% bank account penetration within five years, up from the current 16.29%, and is expected to open 34m new accounts by 2027.
On his new role, Tahir said: “I am thrilled to lead HugoBank at the beginning of its journey in Pakistan and am confident that our digital bank will catalyse financial inclusion and wellness for the people of Pakistan.
“I am excited to assemble a team to build a customer-centric bank focused on offering accessible, convenient, and secure digital financial services to underserved individuals and SMEs alike.”
David Fergusson, chief executive officer of Atlas Consolidated, commented: “With his extensive experience and deep understanding of the market, we are confident that he will lead HugoBank in promoting financial inclusion and literacy in Pakistan and help improve the lives of millions across the country.”