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ISLAMABAD: The Mobilink Microfinance Bank Ltd (MMBL), Pakistan’s largest digital bank, set up a financial literacy camp at the University of Balochistan on May 31, 2022.

 

The camp was organised under the State Bank of Pakistan’s National Financial Literacy Programme for Youth. The gala had representatives from MMBL, SBP, RAAST, and other notable banks in attendance.

The MMBL strives to provide financial knowledge and opportunities to the financially marginalized segments of society, with a prime emphasis on enhancing female participation in the financial and economic sphere.

According to recent surveys, 15 million women operate mobile banking accounts in Pakistan, out of which only three percent reside in Balochistan, KP, and Azad Kashmir combined. This showed that despite being the largest province in terms of geographical area, Balochistan is currently home to the largest unbanked population compared to other regions.

The MMBL aims to promote financial inclusion in this strategic province and help bridge this gap by organising continuous financial literacy drives and providing access to convenient as well as secure digital financial products & services.

Sharing his thoughts, Ghazanfar Azzam, President & CEO of MMBL, highlighted MMBL’s efforts in promoting financial inclusion across the country with more concerted efforts in Balochistan going forward.

He said: “MMBL operates through a unique hybrid setup with physical branches and branchless banking agents spread across the country. We are dedicated to further expanding our footprint in Balochistan and equipping our countrymen with financial knowledge, especially in underserved communities, to help them effectively manage their daily financial requirements and improve their standard of living.

As an ambassador for promoting financial inclusion, MMBL and other financial institutions should continue with their efforts in minimizing the huge financial gap that currently exists in Balochistan”.

Through its diverse business portfolio, the MMBL is expanding its outreach through the continuous introduction of innovative financial products & services to help increase the economic prosperity of Pakistanis.

Events like the Financial Literacy Galas help level the playing field for underserved communities who want easy access to financial services but lack the awareness to make informed financial decisions. Through the power of digital financial services, the MMBL is bridging the financial divide and promoting economic prospects with holistic and inclusive community-focused financial initiatives across the nation.

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