Mobilink Microfinance Bank (MMBL), the largest digital bank in Pakistan, has further expanded its footprint across the country’s landscape by inaugurating 24 new branches, reaching a total of 100 branches.
The new branches are located in Islamabad, Haveli Lakha, D.I. Khan, Khairpur Tame Wali, Bahawalpur, Karachi, Dina, Mansehra, Nowshera, Timergara, Mingora, Jatoi, Piplan, Jaranwala, Pir Mehal, Chunian, Sheikhupura, Gujrat, Wazirabad, Hafizabad, Sukkur, Bahawalnagar, Muridke, and Rawat. MMBL is aggressively working to bank the unbanked and is playing a leading role in the promotion of financial inclusion across the country. MMBL is making steadfast efforts to reach out to marginalized communities through its expanding network.
In an effort to ease supply-side barriers to financial access, MMBL has been digitizing the onboarding process for its customers. Using bio-metrically enabled hand-held devices, MMBL is onboarding customers and offering asset and liability products without the need for a single sheet of paper by using digital signatures to make this onboarding and lending process even more secure.
Speaking about this achievement, the President and CEO of MMBL, Ghazanfar Azzam said, “Our growing number of physical branches along with our branchless banking network ensures that we leave no stone unturned in contributing towards a financially inclusive Pakistan”.
Chief Business Officer Muhammad Asim Anwar added “We are committed to serving our customers by expanding our footprint. With the addition of these new branches, we aim to empower our customers through various financial products that can help ensure financial inclusion for all”.
As Pakistan’s largest digital bank with over 27 million registered users including 12 million active JazzCash digital wallets, MMBL is a leading player in lending to small and medium-sized enterprises with over 700,000 traditional individual and micro-enterprise loans disbursed, alongside more than 3,600,000 digital nano loans disbursed till December 2020. MMBL offers a suite of financial services through various channels to enhance customer experience and convenience. Some of the products and services include cash management, home remittances, health insurance, term deposits, and special saving accounts for senior citizens, female households, and entrepreneurs.
MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan. It is the only microfinance bank that was recognized by PACRA recently, as maintaining a ‘Stable Outlook’ and additionally, was not listed on the agency’s Watchlist. MMBL was also a semifinalist in the recently held European Microfinance Awards. Further, the Institute of Bankers Pakistan has also recognized MMBL as the “Bank of the Unbanked” continuously for the last two years.