The banking sector of Pakistan has gone on massive leaps towards the digitalization process in the past few years. Nowadays, a person can create a mobile wallet within a few minutes or request a personal credit card rather easily. However, in the corporate industry, getting basic financial instruments, i.e. corporate credit cards in Pakistan is a very frustratingly tough challenge.
Even with recent regulatory efforts to streamline the business environment, a number of business owners are stuck in the maze of the paperwork, phone call black holes, and structural delays. Why then, is it so reluctant of Pakistani banks to give plastic to businesses?
The Disconnect Between Regulation and Reality
The scenery is promising on paper. Securities and Exchange Commission of Pakistan (SECP) has been busy in ensuring that the corporate banking experience is made easier. Recently, SECP has entered contracts with big financial actors such as Askari Bank Limited and NayaPay. This is preceded by other partnerships with Mobilink Microfinance Bank, Easypaisa, Mashreq Bank, and Raqami Islamic Digital Bank to help in instant opening of corporate accounts. Accounts do get opened eventually, but documentation requirements are extremely heavy. Delays happen, and they stop picking up your phone call,” the investor noted.
Opening a basic corporate account can still take weeks. If simply getting an account operational takes that long, applying for and receiving a corporate credit card becomes a distant dream, delaying essential operational payments for newly established businesses.
The Economics of Corporate Credit Cards
Why is it so much easier for an individual to get a credit card than a registered company? A senior banking executive explained that the reluctance isn’t necessarily a deliberate attempt to stifle business, but rather a harsh economic reality.
“Launching corporate credit cards requires big investment, but bank revenue is limited compared to individual credit cards,” the banker explained.
The primary issue is market size. The corporate sector that would actively utilize and qualify for these cards is surprisingly small. “The market is tiny, with likely fewer than 30,000 companies eligible. This makes it less commercially attractive for any bank. Can you blame us?” the banker added.
Furthermore, today’s corporate credit cards in Pakistan often lack proper reconciliation features and seamless integration with modern company accounting software, severely limiting their actual usefulness for finance departments.
High Risk and Heavy Compliance
Beyond the lack of commercial appeal, issuing credit to businesses involves significantly higher regulatory and financial risk compared to retail consumers.
The banker emphasized that corporate cards require intense scrutiny, constant monitoring, and far stronger compliance checks. In an economic environment where businesses can face sudden liquidity issues or default, banks prefer the relatively safer, statistically predictable risk of lending to thousands of individuals rather than large sums to a few corporations or Associations of Persons (AOPs).
According to industry insiders, traditional banking practices are slowing down corporate access to financial services. The banker noted that institutions like Askari Bank, Faysal Bank, and Bank Alfalah are perceived as some of the slowest in this regard. Even foreign banks like Standard Chartered Pakistan—though slightly better—remain reluctant to fast-track corporate credit card issuance, often citing bureaucratic bottlenecks tied to their international headquarters.
The Missing Link in Digital Transformation
Pakistan has undeniably made huge progress in digitizing company registration and upgrading its financial infrastructure. Regulatory reforms now promise paperless onboarding and a faster business setup process. However, this progress is bottlenecked at the banking level.
Industry experts warn that unless commercial banks fully align with these regulatory reforms—simplifying corporate account opening and expanding the issuance of corporate credit cards—Pakistan’s broader digital business transformation will remain incomplete.
For many startups and SMEs in Pakistan today, the biggest hurdle is no longer registering the company with the SECP. The real challenge is getting the traditional banking system to move at the speed of modern business.
Why is it hard to get a corporate credit card in Pakistan?
Getting a corporate credit card is difficult because banks view the eligible market (fewer than 30,000 companies) as too small to justify the high investment. Additionally, corporate cards require heavier compliance checks, constant monitoring, and carry higher financial risks compared to individual consumer cards.
Which banks offer corporate accounts in Pakistan?
Almost all major commercial banks offer corporate accounts. Recently, the SECP has partnered with banks and fintechs like Askari Bank, NayaPay, Mobilink Microfinance Bank, Easypaisa, Mashreq Bank, and Raqami Islamic Digital Bank to streamline corporate account opening.
Does the SECP help with opening corporate bank accounts?
Yes, the SECP has introduced regulatory reforms and signed agreements with several banks and fintech companies to promote paperless onboarding and faster, instant corporate account opening. However, practical implementation by banks can still be slow due to heavy documentation requirements.
Why do banks prefer issuing consumer credit cards over corporate cards?
Consumer credit cards offer higher revenue potential through a massive retail market. In contrast, corporate credit cards serve a much smaller market, require more expensive integration and reconciliation tools, and demand far stricter regulatory compliance, making them less commercially attractive for banks in Pakistan.
