MMBL’s Ambition for Driving Digital and Financial Inclusion
Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited’s (MMBL’s) efforts for accelerating socio-economic growth by promoting digital and financial inclusion in the country were highlighted at the 6th Annual DevFest 2021, organized by Google Developers Groups Islamabad at the National University of Sciences and Technology (NUST), Islamabad. MMBL’s Ambition for Driving Digital and Financial Inclusion.
As a lead collaborating partner at DevFest 2021, Mobilink Microfinance Bank Limited (MMBL) launched the MMBL Dost Hackathon, which was formally announced by Khurram Javaid, Head Digital Sales, Marketing and Partnerships along with Mohammad Ali Ibrahim, Head Marketing and Communications at MMBL. The 45-day Hackathon set down the foundation for making scalable problem-solving innovations in collaboration with GDG. MMBL’s digital channels provide convenient and inclusive banking products and services that are crucial to bringing more people into the financial landscape.
MMBL’s Chief Finance and Digital Officer, Sardar Mohammad Abubakr was one of the keynote speakers at the event along with the Federal Minister for Science and Technology, Shibli Faraz, Corporate Outreach Lead – Google Developer Groups Islamabad, Ali Naqi Rizvi, and Senior Director Commercials Global Centre at S&P Global, Shafqaat Shah. While addressing the tech entrepreneurs and graduating students present at the event, Sardar Mohammad Abubakr stressed the importance of financial inclusion and the growing digital landscape in Pakistan. He stated, “Uplifting & upskilling the youth of Pakistan remains at the core of MMBL’s business ethos and paves the way for successful idea generation and creativity through a digitally-empowered and resilient workforce.” MMBL’s Ambition for Driving Digital and Financial Inclusion.
MMBL’s team also showcased digital on-boarding of customers and digital lending through the DOST platform and contributed towards various sessions in the two-day event focusing on Technology, Financial Inclusion, Digital Banking, Startup Ecosystem, and Diversity & Inclusion (D&I). MMBL’s Manager Transformation & Partnerships, Sundas Kazmi participated during the panel discussion in D&I. While discussing MMBL’s role in broadening horizons and providing financial support for women, she shed light on how MMBL strives to engender equality in the banking sector by designing female-centric products and services to address their financing needs and enabling them to overcome barriers restricting their access to finance. The bank’s flagship initiative, Women Inspirational Network (WIN) is specifically targeted towards the uplift of women all across Pakistan.
The MMBL stall showcasing a range of the bank’s cutting edge digital financial products and services received massive footfall, including one special visit by Federal Minister for Science and Technology, Shibli Faraz. The bank’s efforts for promoting financial inclusion in the country were appreciated by the visitors. The two-day festival was concluded with the prize distribution to the winners of the Women’s Online Safety Hackathon, which was a major component of the event, along with various workshops & codelabs, energizer & mentoring sessions, and fireside chats.
Mobilink Microfinance Bank Limited (MMBL) is Pakistan’s largest digital bank with over 34 million registered users including 14 million monthly active digital wallets. MMBL is a leading player in lending to small and medium-sized enterprises with over 800,000 traditional individual and micro-enterprise loans disbursed, alongside more than 11,000,00 digital nano loans disbursed till August 2021. MMBL is currently operating through 100 branches and a nationwide network of over 135,000 branchless banking agents. MMBL Registers Record Growth in M-Wallets.
MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan and also won a CSR award in the category of “Diversity & Inclusion Leader” by The Professionals Network. It is the only bank in Pakistan, microfinance or commercial, that was recognized by PACRA recently, as having a ‘Positive Outlook’ and continues to remain outside the agency’s Watchlist. Further, the Institute of Bankers Pakistan has also recognized MMBL as “Bank of the Unbanked” in recent years.
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