HBL, FINCA sign agreement

KARACHI: Habib Bank Limited (HBL) has signed an agreement with FINCA microfinance bank for the collection of loan repayments through HBL Express network, a press release has said.
HBL Payment Services Head Faiq Sadiq termed the union as the first step towards financial inclusion where two financial institutions are bringing forward their core expertise and bundling them together to serve a common goal.
“Micro finance industry and branchless banking are two sides of the same coin where in the future, one cannot go without the other,” said Mudassar Aqil, CEO FINCA Microfinance Bank.
HBL launched its branchless banking services under the premise of financial inclusion for low cost delivery of basic financial services, serving the unbanked and underprivileged segments of economy.