Mobilink Microfinance Bank Limited (MMBL) has launched three major microfinance initiatives to financially empower women entrepreneurs and support small & medium-sized farmers in the country.
The initiatives were formally launched by VEON Group CEO, Kaan Terzioglu, during his recent visit to Pakistan.
As part of the first initiative, MMBL has launched low-cost 4G handsets for customers, especially female entrepreneurs, aimed at driving participation in the digital economy among marginalized groups within the population.
The discounted Digit 4G handsets will be available across Mobilink Microfinance Bank’s vast branch network and will come pre-loaded with the bank’s digital banking application, MMBL DOST, that will enable customers to obtain quick financial assistance, pay bills, make money transfers and use a vast array of digital banking services.
Going forward, Mobilink Microfinance Bank will be offering these subsidized 4G handsets as part of its loan portfolio.
Under the second initiative, MMBL has collaborated with Daraz to help incentivize and upskill female entrepreneurs with brick-and-mortar stores to go digital and expand their customer outreach across the country.
Under the partnership, female customers will be charged 0% commission for the first three months of their onboarding, giving them ample time to set up their businesses on the digital platform. Moreover, female sellers using Daraz will be able to open accounts digitally and apply for Mobilink Microfinance Bank loans at concessional rates.
“As a digital operator, VEON is focused on providing high-quality connectivity while building a digital services ecosystem to meet customers’ needs and transform their lives. These initiatives will accelerate financial inclusion in Pakistan, drive economic growth, and play an important role in the digitalization of the local microfinance industry,” states Kaan Terzioglu, VEON Group CEO.
The third initiative sees Mobilink Microfinance Bank provide digital agriculture advisory services for farmers, delivered through a partnership with Pakistan’s leading AgriTech company BaKhabar Kissan.
Along with financial assistance from the bank, farmers will also have access to personalized instructions for planting profitable crops, monitoring weather and land conditions, tips for effective livestock management, and tracking key agriculture and environment-related indicators to boost income and agricultural produce.
“For over 10 years, Mobilink Microfinance Bank has been playing a game-changing role in empowering marginalized and underserved communities in Pakistan. Through these initiatives, we are aiming to build a digital infrastructure that will help further the economic upliftment and financial empowerment of women business owners and small and medium-sized farmers in the country,” said Ghazanfar Azzam, President & CEO of Mobilink Microfinance.
VEON Group CEO previously met senior representatives of the government including Prime Minister Shehbaz Sharif, Minister for IT and Telecommunication, Syed Amin Ul Haque, and Minister for Finance, Miftah Ismail.