Technology and Business News from Pakistan

Mobilink Microfinance Bank becomes first Microfinance Institution to secure EFP Membership

Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has become the first microfinance institution to secure membership of the Employers Federation of Pakistan (EFP), an apex body of employers in Pakistan that spearheads the private sector in matters of employment, industrial relations, social and economic policy. EFP is also a member of the International Organization of Employers (IOE) and with its virtue an important constituent of the International Labour Organization (ILO), United Nations from Pakistan. 

The EFP membership was awarded to MMBL in recognition of its efforts to promote financial inclusion for all especially enabling individual entrepreneurs as well as small and medium industries in the country, particularly the ones led by women. The EFP, while notifying about the membership, applauded Mobilink Microfinance Bank’s tireless efforts in scripting Pakistan’s financial growth and recognized its role in revolutionizing the traditional banking system. It said the bank has led the way in empowering all segments of society, particularly women.

Commenting on the achievement, Ghazanfar Azzam, President & CEO, MMBL said: “We are ecstatic to be the first microfinance bank in the country to become a member of EFP. The achievement comes as a validation of the bank’s extraordinary growth and innovation to lead the country’s microfinance industry while digitalizing its core processes, hence creating an environment conducive to economic growth. MMBL, with its diverse portfolio, is not only committed to serving the financial needs of individuals and Small and Medium-sized Enterprises (SMEs) but is also focused on empowering women entrepreneurs through its flagship initiative, Women Inspirational Network (WIN). By becoming a member of EFP, we intend to continue with our leading role in the digital banking landscape and foster economic empowerment for all.”

Also commenting on the development, Samiha Ali Zahid, Chief Human Resources Officer (CHRO) MMBL, said: “MMBL is a market leader for women in finance and it is continuously striving to make Pakistan more inclusive, both digitally and financially. We take great pride in being one of the primary pillars of Pakistan’s digital banking ecosystem, where we play a vigorous role in women empowerment; be it through initiatives on financial management or training the female borrowers. This membership is a testament to our passion for promoting women empowerment at all fronts.”

Remarking on the occasion, the President of Employers’ Federation of Pakistan, Ismail Suttar said: “Employers’ Federation of Pakistan welcomes MMBL as our valued member as it upholds such integrity and values which are a major contributor in enhancing the image of Pakistan globally. To continuously work towards creating an environment that is progressive for women and encourage initiatives that not only benefit the economy but inspire the youth to have aspirations, MMBL has played a large role in facilitating aspects such as these. Therefore, EFP takes a great sense of duty in showcasing the Government of Pakistan and the international stakeholders the relevance of such associations. In the times to come, we greatly look upon such entities to further promote the soft image of Pakistan, which our Federation also duly aims to acquire.”

In the same context, and to highlight the success stories on women empowerment in Pakistan, EFP will be hosting an event at Pakistan Pavilion, Dubai Expo 2020 on 11th February 2022 with the theme “Women of Pakistan; Leading a Change”.  

For many years, MMBL has been facilitating SMEs and women by providing them micro-loans to engage in self-empowering projects, which enables them to generate income and substantiate their earnings. The EFP membership will further enhance MMBL’s role in bringing broad-based socio-economic enablement to individuals and communities nationwide. The bank will be completing 10 years of operations in Pakistan this year.  

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