MMBL, SCBF, AGFUND to offer “fast-tracked” banking solutions to the unbanked
Mobilink Microfinance Bank Limited (MMBL) is partnering with the Swiss Capacity Building Facility (SCBF), a Switzerland-based innovative public-private platform, and the Arab Gulf Programme for Development (AGFUND), a Saudi Arabia-based development organization, to enhance its capacity to offer innovative and “fast-tracked” banking solutions to the unbanked and underbanked in Pakistan. SCBF has funded over 188 projects across 48 countries to date, with this being their second project in Pakistan.
Standard Chartered Pakistan earns record profit of PKR 50.1 billion before tax
MMBL is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people’s lives by creating opportunities for increased digital inclusion and by driving economic growth across countries that are home to more than 8% of the world’s population.
The two-year project, which will be implemented by Swiss-based consultancy firm Business & Finance Consulting (BFC), specifically aims to strengthen MMBL’s credit processes and outreach, with the ultimate goal of laying a foundation for communities across Pakistan to be able to have livable incomes, long-term employment opportunities, and personal growth & development. The potential outreach under the project is expected to be around 0.4 million with the majority of the clients coming from rural areas and at least 35% of them being women. Under this partnership, MMBL is committed to revolutionizing the digital banking ecosystem by implementing innovative technologies to deliver affordable and accessible financial solutions to women, small businesses, farmers, and other financially-excluded groups. The core objective of the arrangement is to increase the credit risk capabilities of MMBL in their loan offering/servicing for target businesses, particularly women, mainly in rural areas.
Jazz enables TCF to impart digital-age skills to over 250,000 students
At the project signing ceremony, Ghazanfar Azzam, President and CEO MMBL shared, “This partnership with SCBF and AGFUND will enable MMBL to deliver a superior banking experience through technology and offer innovative digital financial solutions to meet the increasing banking needs of our growing customer base. Through this collaboration, MMBL will foster responsible and inclusive financial solutions in Pakistan by expanding its reach and bringing more unbanked individuals, especially women under the financial fold.”
Bank of Punjab sets PKR 37,500 as minimum salary for all employees
MMBL is committed to addressing the challenges that have left marginalized groups behind, especially women and Micro, Small, and Medium Enterprises (MSMEs) from the financing system, and is consistently taking actionable measures to make banking more accessible to everyone, regardless of their location. MMBL recognizes that the banking industry is constantly evolving, and it is committed to staying at the forefront of these changes by providing products and services that are tailored to the unique financial needs and circumstances of marginalized groups nationwide.
You might also like:
- MMBL and iConsult form Strategic Partnership to Advance Financial Inclusion in Merged Districts
- Meezan Bank recognized as ‘Best Islamic Retail Bank in the World
- Khushhali Microfinance Bank Provides Educational Support to the Students of Haripur & Lala Musa
- HABIBMETRO Bank, IDEMIA, and VISA kick off tokenization & digital card programme
- Meezan Bank & Fieldfisher Capital to extend Islamic Finance Advisory to Europe & Middle East
- InfoTech Partners with Finastra to Introduce Fusion Essence Next-Gen Core Banking Solution
- Khushhali Microfinance Bank appointments Aameer Karachiwalla as its new president & CEO