MMBL promotes financial inclusion, supports farmers for economic prosperity

Islamabad : Mobilink Microfinance Bank Limited (MMBL), VEON’s financial services arm and the largest digital bank in Pakistan, launched three major microfinance initiatives as part of its continuing efforts to financially empower women entrepreneurs and support small and medium-sized farmers in the country. The initiatives were formally launched by VEON Group CEO, Kaan Terzioglu, during his recent visit to Pakistan.

To drive participation in the digital economy among marginalized groups, MMBL introduced low-cost 4G handsets for customers, especially female entrepreneurs as part of its first initiative. The substantially discounted Digit 4G handsets will be available across MMBL’s vast branch network and will come pre-loaded with the bank’s digital banking application, MMBL DOST.

Under the second initiative, MMBL has collaborated with Daraz, Pakistan’s largest e-commerce platform, to help incentivise and upskill female entrepreneurs with brick-and-mortar stores to go digital and expand their customer outreach across the country.

“As a digital operator, VEON is focused on providing high-quality connectivity while building a digital services ecosystem to meet customers’ needs and transform their lives. These initiatives will accelerate financial inclusion in Pakistan, drive economic growth, and play an important role in the digitalisation of the local microfinance industry,” states Kaan Terzioglu, VEON Group CEO at the launch.

The third initiative provides digital agriculture advisory services for farmers, delivered through a partnership with Pakistan’s leading AgriTech company BaKhabar Kissan. This initiative will give farmers access to personalized instructions for planting crops, monitoring weather and land conditions, tips for effective livestock management, and tracking key agriculture and environment-related indicators to boost income and agricultural produce.

“For over 10 years, Mobilink Microfinance Bank has been playing a game-changing role in empowering marginalized and underserved communities in Pakistan. Through these initiatives, we are aiming to build a digital infrastructure that will help further the economic upliftment and financial empowerment of women business owners and small and medium-sized farmers in the country, two segments that have the potential to transform Pakistan’s economic future,” explain Ghazanfar Azzam, President & CEO of Mobilink Microfinance Bank said.