Extending a winning legacy that spans over a decade, Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL), has been awarded the title of “Most Innovative Microfinance Bank – Pakistan 2022” by the prestigious Global Business Outlook (GBO) Awards 2022.
The award highlights MMBL’s continuous efforts to enhance access to innovative digital and financial solutions across Pakistan.
GBO is a UK-based publication dedicated to covering vital industry sectors such as banking, insurance, brokerage, finance, and disruptive technologies by celebrating individuals and organizations around the world that have made significant impacts in their respective markets with an emphasis on value addition and innovation.
Being presented with this accolade cements MMBL’s key role in transforming the banking ecosystem in Pakistan by building smarter, more effective financial solutions for its growing clientele.
Addressing this recent achievement, President & CEO MMBL, Ghazanfar Azzam, said, “We are honored to receive this distinguished recognition from GBO that corroborates our innovative efforts to provide customer-centric, affordable, and simplified digital financial solutions.”
“Pakistan’s rising smartphone and internet penetration has indeed opened new avenues for digitization and we are committed to utilizing these to help revolutionize banking and enable increased access to seamless services,” he added.
Also sharing his thoughts, Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr, stated, “Being internationally recognized as the ‘Most Innovative Microfinance Bank’ in Pakistan is a testament to our success. The Bank’s efforts, for the last decade, have been concentrated on uplifting the unbanked and underserved segments of society, especially women entrepreneurs and Small and Medium-sized Enterprises (SMEs).”
“MMBL not only offers an array of innovative solutions through its expansive digital financial ecosystem but is also dedicated to training its borrowers through specialized training and skills development workshops under the Women Inspirational Network (WIN) program. We are determined to serve all underserved and unserved people through equal and ample opportunities for financial independence,” he added.
With over 40 million registered users, including 15+ million monthly active mobile wallets and a network of 196,000+ branchless banking agents, MMBL is dedicated to harnessing the power of technology and encouraging innovation in the banking sector.
The Bank’s specialized products and services, such as Women Inspirational Network (WIN) and DOST App facilitate individuals, especially women-owned businesses, to grow financially. MMBL recognizes that a substantial proportion of Pakistan’s economy is built on the efforts of small businesses and is confident in the ability of the microfinance sector to serve as an engine for their growth.
Moving forward, the Bank aims to bridge the prevalent financial gap by enabling every individual and business, especially those living in remote and hard-to-reach areas, to gain access to formal financial services with ease.
