MMBL, CBA join hands to enhance access to digital financial services

ISLAMABAD: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) and CBA, a leading digital distribution platform working to promote micro-entrepreneurship in Pakistan, have joined hands to increase peoples’ access to premium digital financial services across the nation. This partnership will strengthen access to financial products and services through digital platforms and improve financial literacy.

Chief Finance & Digital Officer MMBL, Sardar Mohammad Abubakr, and CEO CBA, Ghazanfar Ali Khan, inked this exciting agreement at the MMBL Head Office in Islamabad, in the presence of senior management from both organizations.

Mobilink Microfinance Bank Limited is one of the country’s leading proponents of financial inclusion, wholly committed to serving marginalized and underserved people while bridging the digital divide in the country. The bank leverages its elaborate portfolio of innovative digital and financial services to consistently provide convenient access to banking products and services to entrepreneurs and Micro, Small, and Medium-sized Enterprises, specifically in remote and hard-to-access areas.

CBA, on the other hand, is the largest Digital Distribution Platform with more than 20,000 retailers in the country that provides one-stop retail solutions, including various financial services, telcos airtime, utility bill payments, digital ticketing, e-vouchers, mobile handsets purchasing, digital courier services and loan repayments.

Addressing the gathering, CFDO MMBL, Sardar Mohammad Abubakr, stated, “We are excited to collaborate with CBA to reinforce our goal of providing easy and accessible financial services to entrepreneurs and small enterprises. MMBL and CBA share the same passion for spurring economic growth through improved access to finance, so we are thrilled to see where this collaboration leads. Furthermore, our shared digital infrastructure will come in handy in widening the banking net to areas that lack physical branches, enabling more entrepreneurs and SMEs to expand their businesses and journey further towards the path to sustainability.”

The CEO of CBA, Ghazanfar Ali Khan, stated, “CBA has been working to elevate micro-entrepreneurship by helping SMEs to scale upwards and attain financial sustainability. We continue to improve, innovate and collaborate to be able to play a much larger and impactful role in the industry.”

MMBL is proud to forge alliances with like-minded organizations to further its mission of a financially included Pakistan. The bank focuses on financially empowering women in Pakistan’s economic landscape so they can actively contribute to the sustainable growth and development of the nation’s economy. Through its diversified financial services portfolio, MMBL aims to revolutionize the microfinance ecosystem by implementing digital reforms in the banking sector.

Copyright Business Recorder, 2022