Mobilink Microfinance Bank Limited 4.57

Mobilink Microfinance Bank Limited (MMBL) is a leading microfinance bank of Pakistan, backed by VEON, a global telecom giant. MMBL is a hybrid model combining microfinance with mobile banking. It now operates with 51 brick & mortar branches & 70,000 agents offering MSME finance, savings, remittances, utility bill collection, mobile wallets, insurance, G2P & B2P payments through an alliance with Pakistan's largest telecom operator JAZZ under the brand name JAZZCASH. Jazz cash is playing a leading role in digitizing payments in Pakistan. Mobilink Bank aims to reach out to the vast majority of people of Pakistan who remain financially excluded, by leveraging digital and allied technologies, thus contributing in the promotion of financial inclusion. Improved access to finance is indeed closely linked to better economic conditions and prosperity for all.
Thanks to the role played by State Bank of Pakistan as a progressive and dynamic regulator, we in Pakistan, are one of the fastest growing financial services markets all over the world. Our challenge, as well as opportunity, is simple i.e. bridging the gap between tele density and banking coverage. Banking coverage in Pakistan is approximately 25% in savings and less than 8% in access to credit whereas tele density is over 65% and growing. Access to insurance services is also dismally low. There are over 70 million cell phone subscribers who don’t have any bank account but now have the opportunity to possess a truly real-time online mobile account or wallet on their cell phones. A wallet that could manage their savings, loans, purchases, funds transfer, utility bills, insurance and mobile top ups etc. etc. on the click of a button.
We, at Mobilink Bank, are very excited to be a part of this great initiative and transformation that Pakistan’s banking and financial sector is undergoing and thanks to our partner Mobilink, we are committed to making an increasingly larger contribution in this exciting journey