Approval extends VEON's digital financial services ambitions under its "Invest in Bangladesh NOW!" framework

Dubai, Dhaka and New York, September 25, 2026 – VEON Ltd. (NASDAQ:VEON, ", VEON", ))), a global digital operator, today announced that a joint venture between VEON Digital Financial Group and Square Group, one of Bangladesh's leading business conglomerates, has received approval for a Digital Bank license from Bangladesh Bank, the central bank of Bangladesh. The license marks VEON's entry into full-scale digital banking in Bangladesh, building on Banglalink's existing Payment Service Provider (PSP) license, which underpins its Mukto Pay digital payments service.

This milestone reflects continued progress under "Invest in Bangladesh NOW!": a public-private partnership with the Government of Bangladesh that VEON formally launched in New York during UN General Assembly High-Level Week. VEON has committed an initial US$250 million anchor investment toward its ambition of mobilising US$1 billion in foreign direct investment for Bangladesh, advancing connectivity, digital infrastructure, digital financial services and AI.