Mobilink Bank recommends policy changes to promote financial inclusion in Pakistan.

ByPress Release | Published date:
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(Image credit: Policy Recommenations Financial Inclusion in Pakistan)

Mobilink Microfinance Bank Limited (MMBL), Pakistan's largest digital bank, has released a 9-point agenda for the future of financial inclusion, spanning diversity and inclusion, microfinance, SME finance, housing finance, farm finance, digital lending, payments, savings, and insurance.

Ghazanfar Azzam, President, and CEO of Mobilink Microfinance Bank, announced the 9-point agenda in the presence of dignitaries from the State Bank of Pakistan, Securities and Exchange Commission of Pakistan, PMN, Jazz Pakistan, VEON and the media.

Mr Ghazanfar Azzam, President, and CEO of MMBL, stated that

The COVID-19 epidemic has made it imperative for Pakistan to em

ace digital transformation for healthy socio-economic growth and development altogether. Because it is the country's largest digital bank and a financial inclusion pioneer, MMBL has identified critical priority areas that require immediate intervention to

ing every Pakistani on board. The growth of these areas through financial access will transform the national economy. We are committed to helping Pakistan rise

MMBL CFO Sardar Mohammad Abubakr said

Any conversation on financial inclusion must reflect the demands of the masses," . We believe that digital financial inclusion may help relieve poverty by

inging women into the mainstream of financial inclusion and facilitating formal access to funding for the vital SME sector. This goal may be advanced by a National Digital Execution Plan and public-private collaboration.

MMBL advocates for banking the entire adult population, particularly women, and making small and medium-sized enterprises (SMEs) more easily financed, as SMEs account for approximately 40% of GDP and 80% of the labour force. Additionally, the statement stressed the importance of facilitating digital payments, which continue to lead the way in digital finance, and whose rise indicates the country's progress toward future transformation to a digital economy. Additionally, the policy paper recognises the considerable reforms in the housing industry due to The Naya Pakistan Housing Scheme and other similar initiatives undertaken by the Pakistani government and banks. It emphasised the importance of low-cost housing for the masses and the need for housing finance policies and procedures reforms.

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