NBP, Telenor & Microfinance Bank Form Strategic Alliance

National Bank of Pakistan (NBP), Telenor Pakistan (TP) and Telenor Microfinance Bank Ltd. (formerly Tameer Microfinance Bank Ltd.) formed a strategic alliance to further financial inclusion in Pakistan at a signing ceremony held at local hotel in Islamabad. The strategic alliance is in continuation of the coalitions to promote financial inclusion that now cover almost the entire telecom industry of Pakistan.

The agreement was signed among Mr. Saeed Ahmad – President & CEO NBP, Mr. Irfan Wahab – CEO Telenor Pakistan and Mr. Yahya Khan – CFIO & CDO Telenor Microfinance Bank, in the presence of senior management from the three organizations including Mr. Mudassir H. Khan – SEVP/Group Chief CRBG, Mr. Azfar Jamal – EVP/Head – Payment Services, Mr Khawaja Asif – COO Telenor Microfinance Bank and Mr Rehan Akhter – Head of FS Karandaaz among other delegates.

Under the ambit of this arrangement, multiple services will be leveraged upon including Telenor USSD Channel, Agent Network of Easypaisa, and NBP’s transaction base, to fulfil the needs of banked as well as the unbanked population of Pakistan including facilitation of P2G and G2P transactions.

After the ceremony Mr. Saeed Ahmad – President & CEO NBP stated that National Bank envisions creating concrete opportunities to promote financial inclusion through innovation driven by technologies and data, and with that; drive inclusive and sustainable growth in the formal banking sector. He added that combining the strengths of NBP, TP & TMBL together will broaden the vision of our industry to achieve the State Bank’s National Financial Inclusion Strategy.

Also talking at the forum, Mr. Mudassir H. Khan SEVP / Group Chief CRBG – NBP, said that

“The Digital Financial Services industry in Pakistan took its first step back in 2009 and has now reached a stage where it needs to be taken to the next level.”