TMFB gets GSMA certification

KARACHI: Telenor Microfinance Bank (TMFB) has received the esteemed GSMA mobile money certification for its branchless banking service easypaisa, a statement said on Tuesday.

The GSMA mobile money certification is a global initiative to bring safer, more transparent, and more resilient financial services to millions of mobile money users around the world, it added.

Pakistan has one of the region’s, as well as the world’s, widest financial inclusion gaps with around 100 million adults still lacking access to formal and regulated financial services.

To combat that Pakistan launched its National Financial Inclusion Strategy in 2015 with the goals to expand financial access to at least 50 percent of adults, and to increase the percentage of SME loans by 2020, the statement said.

“The GSMA certification gives us the confidence that our business practices are among the best in the industry, and proves our seriousness and commitment to protecting the rights of our customers by delivering to them reliable and secure services,” said Shahid Mustafa, president and CEO of Telenor Microfinance Bank.