October 6, 2024
Headlines

Microfinance

PMIC Launches Shariah-Compliant Financing Suite, Inks PKR 100 Million Deal with SAFCO Microfinance Company – Fintech News Pakistan

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October 3, 204 – Pakistan Microfinance Investment Company (PMIC) has announced the launch of its new Shariah-compliant suite of financing products, expanding its offerings beyond conventional microfinance wholesale financing. This initiative includes key Islamic finance instruments such as Mudarabah and Musharakah, which will now be available to all of PMIC’s borrowing institutions. These products are…

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TPL Corp and Fintech “Abhi” to Jointly Acquire FINCA Microfinance Bank – Fintech News Pakistan

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Karachi – September 20, 2024: TPL Corp Limited (TPL), a leading Pakistani financial platform, and Abhi (Private) Limited (Abhi) have signed a Share Purchase Agreement (SPA) with FINCA Microfinance Coöperatief U.A. to jointly acquire FINCA Microfinance Bank Limited. The development marks a significant milestone in Pakistan’s financial sector, with the announcement shared via a notice…

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Amir Khan Elected as Chairman of Pakistan Microfinance Network (PMN) – Fintech News Pakistan

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Amir Khan, President & CEO of HBL Microfinance Bank LTD., has been elected as the new Chairman of the Pakistan Microfinance Network (PMN). Bringing with him over 32 years of diverse experience in consumer and commercial banking, Mr. Khan is set to lead PMN towards further growth and innovation in the microfinance sector. Since 2012,…

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Advans Pakistan Microfinance Bank Rebrands as Halan Microfinance Bank: SBP – Fintech News Pakistan

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KARACHI, September 16, 2024: Advans Pakistan Microfinance Bank Limited has officially re-branded as Halan Microfinance Bank Limited, effective from September 16, 2024. The announcement was made by the State Bank of Pakistan (SBP) in a press statement issued on Monday. The SBP informed customers of the name change and reassured that the bank continues to…

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Jazz and Mobilink Microfinance Bank Join Forces to Empower Women and Drive Digital Financial Inclusion in Pakistan – Fintech News Pakistan

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Islamabad, Pakistan – In a groundbreaking move to advance financial inclusion and empowerment across Pakistan, Jazz, the nation’s leading digital operator, has partnered with Mobilink Microfinance Bank Limited (MMBL), the country’s foremost digital microfinance bank. This strategic collaboration represents a significant milestone in the digital transformation of Pakistan’s financial services landscape, with a strong focus…

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Telenor Microfinance Bank Posts Rs 2.6 Billion Profit Before Tax in H1-2024 – Fintech News Pakistan

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Telenor Microfinance Bank Reports Exceptional Financial Performance in H1 2024, with Profit Before Tax Surging by 788% Karachi, August 22, 2024 — The Board of Directors of Telenor Microfinance Bank (TMB) has announced the Bank’s financial results for the half year ended June 30, 2024, revealing an extraordinary financial performance that underscores its leadership in…

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NRSP Microfinance Bank Partners with FFC to Boost Agricultural Financing in Pakistan – Fintech News Pakistan

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Islamabad, August 20, 2024 – In a move set to significantly enhance agricultural financing across Pakistan, NRSP Microfinance Bank and Fauji Fertilizer Company Limited (FFC) have signed a Memorandum of Understanding (MOU). The agreement, formalized at FFC’s Head Office, underscores a strategic partnership aimed at providing innovative financial solutions tailored to the needs of farmers…

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TASDEEQ and BOP Partner to Revolutionize Financial Services for Farmers through BOP’s Kissan Card Program – Fintech News Pakistan

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In a landmark partnership, TASDEEQ and the Bank of Punjab (BOP) have signed a Memorandum of Understanding (MoU) to revolutionize financial services for farmers through BOP’s Kissan Card program. This strategic alliance aims to streamline credit assessment processes, facilitate loan approvals, and provide farmers with easy access to credit facilities, fostering growth and development in…

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PMIC and DFC Partner to Boost Financial Inclusion in Pakistan with $15 Million Loan Portfolio Guaranty – Fintech News Pakistan

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In a significant move to enhance financial inclusion and drive economic growth in Pakistan, the Pakistan Microfinance Investment Company (PMIC) and the U.S. International Development Finance Corporation (DFC) have signed a Loan Portfolio Guaranty Agreement. This strategic partnership will provide a loan portfolio guaranty of up to $15 million. The initiative aims to empower women…

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Microfinance Banks Serving More Accountholders, Borrowers Than Conventional Banks – Fintech News Pakistan

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Microfinance Banks Expand Outreach Despite Economic Challenges: SBP Report Karachi, July 15, 2024 – Microfinance Banks (MFBs) in Pakistan continue to expand their outreach to the low-income segment of the population despite challenging macroeconomic conditions, according to the State Bank of Pakistan (SBP). The SBP’s Financial Stability Review-2023 highlights that MFBs serve more account holders…

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