In a significant move for Pakistan’s financial sector, Abhi Private Limited and TPL Corp Limited have gained State Bank of Pakistan’s approval to jointly acquire FINCA Microfinance Bank Limited. This partnership merges FINCA’s extensive microfinance expertise with Abhi’s digital financial services and TPL’s reach in retail, insurance, and technology, aiming to enhance financial inclusion for underserved communities, small businesses, and low-income populations across Pakistan.
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FINCA Pakistan, with its robust presence in over 100 cities, has empowered millions of Pakistanis through loans, savings, and innovative services like the country’s first mobile network-agnostic digital wallet. The new alliance intends to leverage FINCA’s microfinance network and integrate Abhi’s and TPL’s digital tools to provide a comprehensive suite of financial products designed to uplift rural populations and small entrepreneurs, particularly women-led businesses.
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Omair Ansari, CEO of Abhi, and Jeff Smith, Chair of FINCA Pakistan’s Board, highlighted the alignment in vision towards expanding financial inclusion. By merging resources, the newly formed entity aims to drive impactful solutions across Pakistan, with customers poised to benefit from Abhi’s digital-first approach. Updates on new financial products, tailored to meet the needs of Pakistan’s underserved communities, are expected in the coming months.
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