Mobilink Microfinance Bank Limited (MMBL) has partnered with the Swiss Capacity Building Facility (SCBF) and the Arab Gulf Programme for Development (AGFUND) to offer innovative and fast-tracked banking solutions to unbanked and underbanked individuals in Pakistan. SCBF has funded over 188 projects across 48 countries, with this being their second project in Pakistan. MMBL is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries.
The two-year project, which will be implemented by Swiss-based consultancy firm Business & Finance Consulting (BFC), aims to strengthen MMBL’s credit processes and outreach to lay a foundation for communities across Pakistan to have livable incomes, long-term employment opportunities, and personal growth and 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.
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.
At the project signing ceremony, Ghazanfar Azzam, President and CEO MMBL shared that 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 their 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.
MMBL recognizes that the banking industry is constantly evolving and is committed to addressing the challenges that have left marginalized groups, especially women and Micro, Small, and Medium Enterprises (MSMEs), behind from the financing system. MMBL is consistently taking actionable measures to make banking more accessible to everyone, regardless of their location, by providing products and services that are tailored to the unique financial needs and circumstances of marginalized groups nationwide.
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