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Jun 06, 2020 PRINT EDITION
Pakistan

TFCL launched to finance education services

Taleem Finance Company Ltd. (TFCL), a Non-Banking Finance Company (NBFC) set up with a license from Securities and Exchange Commission of Pakistan (SECP), launched with the objective of providing education finance services to low and middle cost private s

February 14, 2020

Taleem Finance Company Ltd. (TFCL), a Non-Banking Finance Company (NBFC) set up with a license from Securities and Exchange Commission of Pakistan (SECP), launched with the objective of providing education finance services to low and middle cost private schools (L&MCPS) in Pakistan, making it the only dedicated financial institution in the country to cater to infrastructure and working capital needs of such schools.
With financial backing as well as technical expertise and experience from US-based impact investor Gray Matters Capital (GMC) in facilitating school improvement initiatives across the globe, TFCL will strive to improve the quality of learning outcomes in its partner schools by enabling infrastructure improvements and establishing best practices.
This marks GMC's second investment in Pakistan after having funded digital health platform doctHERS under its gender lens portfolio - coLABS.
"Access to customized financial products has been seen as a critical success factor around the world for the improvement of education services in developing countries" said Ms. Erika Norwood, President and Chair of the Board, Gray Matters Capital, at the launch event. Outlining the investment rationale, she added "Our experience as an organization in the social impact space has been characterized by strong customer focus, forging creative partnerships and staying curious to solve problems in the school ecosystem. We believe that there's a need for an organization like Taleem Finance which will play the role of a catalyst in Pakistan's education sector, which will not just improve access to education and enhance the quality of private schools in the country, but also bring about gender equity through education finance."

Copyright Business Recorder, 2020