MMBL and SCBF are committed to promoting financial inclusion through innovative Credit Scoring & Banking Solutions
Mobilink Microfinance Bank Limited (MMBL) has partnered with the Swiss Capacity Building Facility (SCBF), a Swiss-based innovative public-private platform, and the Arab Gulf Program for Development (AGFUND), a Saudi Arabia-based development organization, to its ability to provide innovative and “fast” banking solutions to unbanked and unbanked people in Pakistan. SCBF has so far funded more than 188 projects in 48 countries, and this is their second project in Pakistan.
MMBL is part of the VEON group, a global digital operator providing converged connectivity and online services in seven countries. As part of its digital operator strategy, VEON is transforming people’s lives by creating opportunities for greater digital inclusion and driving economic growth in countries that are home to more than 8% of the world’s population.
The two-year project, which will be conducted by Swiss-based consultancy Business & Finance Consulting (BFC), specifically aims to strengthen MMBL’s lending processes and reach, with the ultimate goal of building a foundation for communities across Pakistan to to be able to have a living income, long-term job opportunities and personal growth and development. The project’s potential reach is expected to be around 0.4 million, with the majority of 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 provide affordable and accessible financial solutions to women, small businesses, farmers and other financially excluded groups. The core objective of the scheme is to enhance MMBL’s credit risk capabilities in providing loans/services to target companies, particularly women, primarily in rural areas.
Speaking at the project signing ceremony, Ghazanfar Azzam, President and CEO MMBL, shared
“This partnership with SCBF and AGFUND enables MMBL to deliver a superior banking experience through technology and provide innovative digital finance solutions to meet the increasing banking needs of our growing customer base. Through this partnership, MMBL will promote responsible and inclusive financial solutions in Pakistan by expanding its reach and bringing financial protection to more unbanked people, especially women.”
MMBL is committed to addressing the challenges that marginalized groups have left behind, especially women and micro, small and medium-sized enterprises (MSMEs) from the finance system, and consistently takes actionable measures to make banking more accessible to all, regardless of their location. MMBL recognizes that the banking industry is constantly evolving and is committed to staying ahead of these changes by offering products and services tailored to the unique financial needs and circumstances of marginalized groups across the country.
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