ISLAMABAD-Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has recently launched the 2nd edition of its 9-Point Agenda for Financial Inclusion, a policy document aimed at fostering digital financial inclusion through interventions significant regulations in nine key areas.
Mobilink Microfinance Bank is part of the VEON Group, a global digital operator that provides converged connectivity and online services in seven countries.
As part of its digital operator strategy, VEON is transforming people’s lives by creating opportunities for greater digital inclusion and driving economic growth in countries that are home to more than 8% of the world’s population.
The 9-Point Agenda for Financial Inclusion 2.0 highlights key challenges and opportunities across multiple sectors, with diversity and inclusion at its core, and offers a set of high-level policy recommendations to attract the focus on initiating positive change in these areas. These recommendations include increased facilitation of microfinance, SME finance, housing finance, agriculture finance, digital lending, payments, savings and insurance to help catalyze economic transformation. sustainable and inclusive at the local level in order to strengthen the national economy.
Sardar Mohammad Abubakr, Director of Finance and Digital at MMBL, digitally launched the 9-Point Agenda for Financial Inclusion 2.0.
He expressed the hope that the initiative would generate a constructive discourse on the need to strengthen gender, diversity and inclusion in the banking and financial sector, in addition to motivating meaningful efforts and contributions to the global cause of financial inclusion. Commended by the State Bank of Pakistan, MMBL’s flagship women’s empowerment program, Women Inspirational Network (WIN) is also making strides in boosting women’s participation in the economic sphere.
“The world finds its strength and success in diversity and inclusion, and it is also an important part of our corporate philosophy,” said GhazanfarAzzam, President and CEO of MMBL. “The global economic recession and the recent devastating floods have thrown the country’s economy into dire straits. We believe the time is right for the microfinance industry to accelerate economic recovery and improve the financial health of low-income groups and marginalized segments, including women, minorities, and people with disabilities. As Pakistan’s leading digital bank, we feel responsible for leading efforts and guiding collective attention towards promoting financial inclusion to help achieve sustainable and inclusive economic transformation in the country.
Sardar Mohammad Abubakr, Chief Financial and Digital Officer of MMBL, said, “MMBL is on the path to a holistic economic revolution by providing financial access and empowerment to underserved and unserved people across the country. The growth of digital technologies and the national penetration of mobile phones offer unique opportunities to promote digital and financial inclusion. I am confident that our policy recommendations will spur the much-needed collective will to help unify the efforts of policymakers, regulators and key stakeholders in the banking industry as a whole to promote financial inclusion for all.
Diversity and inclusion are firmly embedded in MMBL’s corporate culture; therefore, the Bank hosts a wide range of policies and processes to help the organization promote women’s empowerment. Under the WIN program, the Bank has trained more than 900 women in several localities in Pakistan on business and entrepreneurial skills and is also committed to improving financial literacy for all. MMBL’s exclusive women-centric offering, Bint-e-Hawwa, also empowers women at all levels. Additionally, through the Humqadam program, MMBL has onboarded more than 10 people with varying abilities for on-the-job training. As an industry leader, MMBL is dedicated to revolutionizing the banking ecosystem by increasing access to digital and financial services for sustainable economic progress.