KMBL launches new initiative

KARACHI: Khushhali Microfinance Bank (KMBL) has launched a new initiative called “Branch on Wheels”, which is a fully-equipped vehicle designed to deliver banking services, a statement said on Wednesday.
This initiative will cater to the communities spread over remote areas with no or limited access to the banking services, it added.
The pilot phase is being run under value chain financing in collaboration with the market development facility (MDF) and Shakarganj Food Products Limited, and will offer livestock loans and general banking facilities to farmers selling milk to Shakarganj industries.
This is an extension to KMBL’s efforts towards increasing financial inclusion of marginalised communities, the statement said, adding that the pilot venture has been launched in Jhang and the bank plans to extend the service to other similar areas where KMBL branches do not exist, it added.