U Bank, BAFL join hands

KARACHI: U Microfinance Bank Limited (U Bank) President and CEO Kabeer Naqvi and Bank Alfalah Limited (BAFL) President and CEO Atif Bajwa have signed a strategic partnership to promote financial inclusion in the country.

The ceremony was held in the head office of Bank Alfalah and was witnessed by the senior management of both institutions. This new relationship not only strengthens the bond between both banks, but also promises to open up multiple avenues for collaboration, including medium- to long-term debt funding, credit structuring and synergising their respective businesses to scale.

Naqvi said, “We are delighted to establish this partnership with Bank Alfalah, which is aimed at exploring avenues to collaborate, design innovative products and work together in moving the banking sector forward. This alliance will help us serve more customers and bring more Pakistanis in to the banking net.”

Bajwa praised U Microfinance Bank as an emerging player and recognisable brand and commented that Bank Alfalah was always committed towards building strategic alliances with key market players.