Tameer Microfinance Bank, rebranded as Telenor Microfinance Bank, aims empowering the poorer people of the country through convenient, affordable and secure digital financial services. The ceremony for the name change was held on Monday, with the Telenor Group having obtained complete acquisition of the bank almost a year back. Ali Riaz Chaudhry, president and CEO of the bank, announced the new corporate identity at a media briefing on this occasion.
"Our new name represents a significant foreign direct investment in Pakistan's banking sector." he said. He said the bank, established in 2005, is best known for its joint venture with Telenor Pakistan for the launch of the country's first and largest branchless banking service, Easypaisa, in 2009.
"We are proud of pioneering the journey of innovating financial services ecosystem in Pakistan, which started with the launch of Easypaisa-our mobile banking platform and a catalyst of future banking." Speaking at the event as chief guest, the executive director of the State Bank, Syed Samar Hasnain, said: "I am positive that the bank, with a mobile banking platform like Easypaisa, will continue to promote financial inclusion in the country.
He said the State Bank will continue supporting initiatives aimed at providing financial services to segments of the population which remain excluded from the mainstream financial system. The management of Telenor Microfinance Bank remains the same, and all future business activities will be conducted under the new name. Telenor Microfinance Bank Limited, established in 2005 as Tameer Microfinance Bank, is the first scheduled microfinance bank in Pakistan. In 2009, the bank launched Pakistan's first mobile banking platform, Easypaisa, which now has the largest nationwide footprint. Telenor Microfinance Bank was awarded the Best Microfinance Bank and Bank the Unbanked awards at the first Pakistan Banking Awards in 2016.
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