UKAID to Further Assist Easypaisa to Strengthen its Operations

British Secretary of State for Department of International Development (DFID), Andrew Mitchell along with Deputy Governor State Bank Yaseen Anwar visited an easypaisa outlet in Karachi today.

They were accompanied by Nadeem Hussain, CEO Tameer Microfinance Bank.

The visitors witnessed transactions being carried out at the outlet and discussed advantages of mobile financial services for financial inclusion in Pakistan.

Speaking at the occasion Secretary of State Andrew Mitchell said,

“In Pakistan more than half the adult population, and two-thirds of women, do not have bank accounts or access to financial services.

The UK supported the mobile banking with initial seed money of dollars 1 million and the use of innovative mobile phone technology is aimed to empower poor people to pay bills and transfer money to their families in rural areas and the UK will help further expand it to three million more people over the next few years," British secretary said.

Working with Tameer Microfinance Bank, UK Aid significantly contributed to the launch of mobile financial services in Pakistan.

With more than Rs. 10 billion worth of transactions, easypaisa is the premier mobile financial service of Pakistan.

Deputy Governor State Bank Yaseen Anwar appreciated the role played by UKAid and easypaisa to enable financial inclusion in the country,

“State Bank of Pakistan is committed to providing best of opportunities through an open and transparent regulatory regime which encourages more partnerships to enhance financial inclusion. State Bank of Pakistan is pleased to see branchless banking solutions bearing fruits to further strengthen the backbone of the financial sector in Pakistan”.

In his comments, Nadeem Hussain, President & CEO Tameer Microfinance Bank Limited appreciated the encouragement by Secretary of State and Deputy Governor State Bank and said:

“Enabling regulatory environment and international donor support are cornerstones for success of mobile financial services in Pakistan. Easypaisa’s ever increasing penetration coupled with our commitment to introduce more valuable services under the portfolio will go a long way towards making the dream of financial inclusion a reality”.