Khushhali Bank wins award

The Khushhali Microfinance Bank, Pakistan’s premier microfinance bank, achieved another milestone by proclaiming Gold Price Disclosure Award by Microfinanza Rating acknowledging the bank's commitment to transparency of its pricing information.

President of the KMBL Ghalib Nishtar said the award was a public recognition of pricing transparency visible to investors and other international stakeholders who subscribed to the Data Platform.

He said the Data Platform was a recent initiative for transparency in the financial inclusion sector that filled the gap left by Microfinance Transparency and unites several other microfinance initiatives (e.g. CERISE, SPTF, Smart campaign, PPI, MIMOSA, Factsheet, etc).

“This acknowledgement signifies KMBL’s commitment to maintain highest standards of business practices and commitment to improve and meet the latest industry service benchmarks; to be recognized for these efforts is indeed an honour for the Bank.

"With this recognition, we will further improve our ability to utilize our customer insight, advance our internal processes and lay the foundations to automate differentiated propositions to individual customers based on what they value," he said.

The MicroFinanza Rating is a private and independent international rating agency specialised in microfinance.

It delivers microfinance and responsible finance industry with independent, high quality ratings and information services, aiming at enhancing transparency, facilitating investments and promoting best practices worldwide.

The KMBL president said the bank operated through a network of 158 branches and 28 service centres across Pakistan.

"Having serviced over 6 million loans to date, we have nearly 2.0 million active depositors, and more than 700,000 active borrowers, making it the leading microfinance bank in Pakistan," he said.

He said over the decades, the bank had created a customer-focused expertise, backed by strong financial, operations and product management to invest in next generation financial and delivery management systems aimed at Pakistan’s rural and urban communities.