Khushhali Bank, IFC enter in JV

KARACHI: Khushhali Microfinance Bank Limited (KMBL) and International Finance Corporation (IFC) have signed an agreement with an aim to empower farmers through digital agri-finance solutions and expand outreach to new rural microcredit customers in Pakistan, a statement said on Tuesday.

The microlender said the joint venture (JV) project would comprise a segmentation approach that would drive the bank’s market strategy by delivering relevant product concepts, while leveraging data from both its existing customer base and external sources.

The IFC would help develop a digital solution for streamlining processes and nimble credit decisions, the bank said adding the project would also address with potential value change collaboration possibilities.