Mobilink Bank and NIBAF’s synergistic initiative to foster Financial Inclusion

Islamabad – January 04 2024: Mobilink Bank, Pakistan’s leading digital microfinance institution, partnered with the National Institute of Banking & Finance (NIBAF) to share its vision and practices with the entire banking industry as a result of introducing an innovative product of Commercial Vehicle. The idea behind bringing this product is to nurture entrepreneurship and foster economic growth, generating employment opportunities that contribute substantially to societal development. Through this partnership, Mobilink Bank strives to amplify inclusivity, offering vital support to the underprivileged and proactively igniting the entrepreneurial spirit in young, underserved individuals, particularly women. Today, this commercial vehicle product is utilized by several women entrepreneurs.

Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and digital services to nearly 160 million customers in six dynamic markets that are home to 7% of the world’s population.

Ghazanfar Azzam, President and CEO Mobilink Bank, and Riaz Nazarali Chunara, Managing Director NIBAF, signed the agreement at the NIBAF Headquarters in Islamabad in the presence of senior management from both organizations, including the Chief People Officer, Chief Branch Business Officer, Chief Digital Officer, and Head of Commercial Vehicle at Mobilink Bank.

Sharing his thoughts on the signing ceremony, Ghazanfar Azzam, President and CEO Mobilink Bank, said, “We believe that real progress is realized when everyone is afforded an equal opportunity to prosper. Our partnership with NIBAF is a testament to our unwavering commitment to social responsibility and our steadfast belief in the transformative potential of financial inclusion. By collaborating for holistic empowerment, our goal is to uplift the underprivileged not only through accessible financial services but also by focusing on education and skill-building initiatives. We at Mobilink Bank are dedicated to fostering opportunities and supporting entrepreneurs to contribute to developing a more equitable society and economy at large.”

Also sharing his thoughts, Riaz Nazarali Chunara, Managing Director NIBAF, said, “The NIBAF-Mobilink Bank partnership strives to uplift the underbanked through enhanced financial inclusivity. One can certainly realize the Bank’s paramount focus to fuel entrepreneurship by merging banking expertise with microfinance initiatives, creating self-employment and job opportunities. This aligns with national development goals, promoting economic growth and empowering marginalized individuals, especially women. Through this strategic alliance, we are dedicated to boosting financial education for the industry, enabling access to resources for sustainable livelihoods, and catalyzing positive socio-economic impact. To calibrate the industry-wide learnings, NIBAF is dedicated to developing experiential learning products through indigenous case studies to benefit the banking fraternity. Our partnership with Mobilink Bank has added another feather to our aspirations.”

Mobilink Bank fosters positive change by offering financial services to hundreds of young entrepreneurs, catalyzing business initiation and expansion. This dedication generates multiple job opportunities, particularly benefiting rural and low-income communities. Committed to nationwide progress, the Bank is a beacon for economic growth and sustainable development among the underserved.