HBL Microfinance Bank and IFC Sign $80 Million Risk Sharing Agreement to Boost Financial Inclusion in Pakistan

HBL Microfinance Bank and IFC Sign $80 Million Risk Sharing Agreement to Boost Financial Inclusion in Pakistan

Karachi, Pakistan – In a landmark move to expand financial access for smallholder farmers and microenterprises, HBL Microfinance Bank (HBL MfB) has signed an $80 million Risk Sharing Agreement with the International Finance Corporation (IFC), a member of the World Bank Group. This strategic partnership aims to empower small businesses, with a particular focus on…

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HBL Microfinance Bank Partners with ETI-GB to Boost Financial Access for Rural Farmers

HBL Microfinance Bank Partners with ETI-GB to Boost Financial Access for Rural Farmers

Gilgit-Baltistan, Pakistan – HBL Microfinance Bank (HBL MfB) has signed a strategic agreement with the Economic Transformation Initiative, Gilgit-Baltistan (ETI-GB), to expand financial inclusion for rural farmers in the region. The collaboration aims to enhance access to finance, empowering small-scale farmers and agribusinesses. The Gilgit-Baltistan Rural Support Program (GBRSP) will serve as the implementing partner…

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AdalFi and The Bank of Punjab Drive Innovation in Consumer and SME Lending

AdalFi and The Bank of Punjab Drive Innovation in Consumer and SME Lending

AdalFi, in partnership with The Bank of Punjab (BOP), is revolutionizing digital lending at scale, leveraging AI-driven solutions to enhance financial accessibility for individuals and SMEs. BOP has been at the forefront of digital transformation, integrating cutting-edge technology to offer seamless and instant financial solutions. Through its collaboration with AdalFi, the bank has introduced a…

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Apna Microfinance Bank Appoints Nazish Ali as Acting President and CEO

Apna Microfinance Bank Appoints Nazish Ali as Acting President and CEO

KARACHI: Apna Microfinance Bank Limited has announced the appointment of Nazish Ali as its Acting President and CEO, following clearance from the State Bank of Pakistan (SBP). In a statement issued to the Pakistan Stock Exchange (PSX) on Monday, the bank confirmed that Nazish Ali assumed the role effective November 30, 2024, after receiving the…

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AdalFi Partners with UBL to power Instant Personal Loans for their Digital CashPlus Product

AdalFi Partners with UBL to power Instant Personal Loans for their Digital CashPlus Product

AdalFi, Pakistan’s leading AI-powered digital lending platform, has joined forces with United Bank Limited (UBL), one of the country’s largest banks, to enable instant personal loans through UBL’s Digital CashPlus product. This strategic partnership leverages AdalFi’s state-of-the-art AI Credit Scoring and Monitoring Models, allowing UBL to identify eligible customers with unparalleled precision and efficiency. By…

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Finance Minister Chairs Meeting with PMIC Leadership to Accelerate Financial Inclusion

Finance Minister Chairs Meeting with PMIC Leadership to Accelerate Financial Inclusion

Islamabad, January 16, 2025 – Finance Minister Senator Muhammad Aurangzeb chaired a high-level meeting with the leadership of the Pakistan Microfinance Investment Company (PMIC) today to address challenges and explore opportunities in the microfinance sector, a key driver of financial inclusion in Pakistan. Established in 2016 under the National Financial Inclusion Strategy (NFIS), PMIC operates as…

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Mobilink Microfinance Bank Appoints Haaris Mahmood Chaudhary as CEO

Mobilink Microfinance Bank Appoints Haaris Mahmood Chaudhary as CEO

Karachi, Pakistan – Mobilink Microfinance Bank (MMBL) has announced the appointment of Haaris Mahmood Chaudhary as its new Chief Executive Officer. With a distinguished career spanning over two decades, Haaris brings a wealth of experience in banking, digital innovation, and financial inclusion. Haaris joins MMBL after serving as the Chief Operating Officer (COO) and Interim…

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SBP Unveils 3rd NFIS 2024-28 to Achieve 75% Financial Inclusion by 2028

SBP Unveils 3rd NFIS 2024-28 to Achieve 75% Financial Inclusion by 2028

KARACHI: The State Bank of Pakistan (SBP) on Monday unveiled the third National Financial Inclusion Strategy (NFIS) 2024-28, targeting an increase in the access to banking services to 75% of the adult population, up from the current 64%, over the next four years. The strategy prioritizes marginalized groups such as women, youth, persons with disabilities,…

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SBP Governor Affirms Commitment to Further Increase Financial Inclusion

SBP Governor Affirms Commitment to Further Increase Financial Inclusion

KARACHI, Pakistan: State Bank of Pakistan (SBP) Governor Jameel Ahmad has reiterated the central bank’s unwavering commitment to advancing financial inclusion through robust collaboration with global and domestic stakeholders. The governor made these remarks during a bilateral meeting with Dr. Alfred Hannig, Chief Executive Officer of the Alliance for Financial Inclusion (AFI), held during Dr….

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CCP Approves Acquisition of 94.8% Stake in FINCA Microfinance Bank by TPL Corp and ABHI

CCP Approves Acquisition of 94.8% Stake in FINCA Microfinance Bank by TPL Corp and ABHI

The Competition Commission of Pakistan (CCP) has approved the acquisition of a 94.8% shareholding in FINCA Microfinance Bank Limited by TPL Corp Limited and ABHI (Private) Limited, according to a CCP press release. Under the terms of the Sale and Purchase Agreement, TPL Corp Limited will acquire a 33.17% stake, while ABHI (Private) Limited will…

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