Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has won the prestigious Retail Banker International (RBI) Asia Trailblazer Award 2021 for being the ‘Best Retail Bank in Pakistan’, along with an honorable mention of “Highly Commended” for its House Loan in the Best Loan Offering category. Organized in collaboration with Arena International, UK, Middle East Economic Digest (MEED), Dubai, and Global Data (Singapore), the Annual RBI Asia Trailblazer Awards celebratere markable innovations and achievements in customer service in the financial and banking industry across the Asian continent. For the 12thedition of the coveted awards this year, more than 300 submissions were received in various categories from 25 countries. The winners were announced in a virtual ceremony in view of the COVID-19 safety protocols. Commenting on the achievement, Ghazanfar Azzam, President & CEO MMBL said: “The award comes as a testament to MMBL’s strong commitment to customer excellence. We always strive to improve the banking experience of our customers by offering customized digital products and services that enable and empower individual users and small and medium businesses in the country. The recognition has reinvigorated our resolve to further innovate, optimize and modernize our retail services to better facilitate our customers, and foster financial inclusion in the country.” Must Read: Carfirst Car gala Brigs Hundreds of Used cars with warranty for buyers Muhammad Asim Anwar, Chief Business and Products Officer MMBL said: “We are committed to promoting digital financial inclusion through an enabling fintech ecosystem that serves everyone alike even in the remotest parts of Pakistan. We are humbled to be recognized in the Asian continent for being the best retail bank in the country and are proud of our diversified product portfolio, including the House Loan, which has been highly commended as the best loan offering in the region. This accolade is a significant achievement, especially as it dovetails with the government’s flagship initiative, Naya Pakistan Housing Scheme.” Retail Banker International (RBI) is an editorially independent briefing service that, over the last 36 years, has become an essential resource for C-suite executives from across the global retail banking and consumer finance ecosystem. RBI provides subscribers with vital coverage across the given key subject areas: product innovation, distribution channels, leadership strategy, regulation, and marketing. RBI’s recognition of MMBL’s retail services will further bolster the bank’s standing as one of the most preferred digital banks in the country. MMBL, being the largest digital bank in Pakistan, serves millions of individual and small and medium businesses across the country through its vast digital financial ecosystem. The bank’s customized product range caters to the evolving financial needs of different socio-economic groups and businesses particularly across the rural stratum, thereby bringing millions of unbanked segments into the fold of financial inclusion.
Mobilink Bank puts forth Policy Recommendations to foster Financial Inclusion in Pakistan
Pakistan’s largest digital Bank, Mobilink Microfinance Bank Limited (MMBL) has put forth it’s 9 point agenda for the future of financial inclusion covering far-reaching and research-based recommendations in the areas of diversity & inclusion, microfinance, SME finance, housing finance, agriculture finance, digital lending, payments, savings, and insurance. The 9 point agenda was formally launched by President & CEO, Mobilink Microfinance Bank, Mr. Ghazanfar Azzam, in the presence of dignitaries from State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Pakistan Microfinance Network (PMN), Jazz Pakistan, VEON and the media. Speaking at the event, President & CEO, MMBL, Ghazanfar Azzam said: “The COVID-19 pandemic has made it indispensable for Pakistan to fully embrace digital transformation on a sustainable basis for wholesome socio-economic growth and development. Being an industry leader of financial inclusion in the country and as the largest digital bank, MMBL has identified key strategic areas that need immediate interventions to bring every Pakistani into the fold of financial inclusion. The development of these areas through access to finance will prove to be a game-changer for the national economy. We are committed to playing our part for the uplift of Pakistan”. Must Read: Jazz partners with Alkira to provide enterprise customers Multicloud networking technology Chief Finance and Digital Officer, MMBL, Sardar Mohammad Abubakr said: “Any discussion on financial inclusion must address the needs of the masses. We believe digital is a great equalizer and with the right approach, digital financial inclusion can help alleviate poverty by bringing women into the financial inclusion mainstream and enabling the all-important SME sector to have formal access to finance. A National Digital Execution Plan and public-private collaboration can help drive this agenda meaningfully forward.” MMBL strongly proposes banking the entire adult population, especially women, and facilitating easy financing of SMEs, which contribute nearly 40% of the GDP and 80% of the labor force. The document also emphasized facilitating digital payments that continue to lead the way in digital finance and their growth hints at the country’s progress towards transformation to a digital economy in the future. In addition, the policy document acknowledges the significant reform in the housing sector as a result of The Naya Pakistan Housing Scheme and similar initiatives taken by the Government of Pakistan as well as the banks. It stressed that low-cost affordable housing for the masses is of utmost importance and reforms in housing finance practices and procedures are necessary to complement these efforts.