MMBL CFDO highlights the power of Fintech at the GITEX Global 2022
Islamabad – October 11, 2022: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited
(MMBL)’s Chief Finance and Digital Officer (CFDO), Sardar Mohammad Abubakr shared his expertise on
Fintech Surge: ESG & Fintech – Society, Inclusion & the Environment at the GITEX GLOBAL 2022, held in
the 2nd week of October at Dubai World Trade Centre. GITEX GLOBAL, the world's largest tech show,
unifies the world’s most influential ecosystems advancing business, economy, society, and culture
through the sheer power of innovation.
MMBL is part of the VEON group, a global digital operator that provides converged connectivity and
online services across seven countries. As part of its digital operator strategy, VEON is transforming
people’s lives, creating opportunities for greater digital inclusion, and driving economic growth across
countries that are home to more than 8% of the world’s population.
During his address, Sardar Abubakr stressed the need to recognize the huge strides Pakistan has made in
digitalization. Dedicated to harnessing the power of technology, MMBL is at the forefront of digital
innovation, making digital and financial solutions more inclusive, efficient, and affordable for everyone,
especially women and Small & Medium Enterprises (SMEs)- two highly influential segments for
increased economic development. The Bank's ever-growing partnerships portfolio is a testament to the
expansion we are doing for maximizing the outreach of our financial services.
This year, Gitex Global is hosting more than 4,500 companies, thousands of exhibitions, and 100,000+
attendees from 170 countries, in addition to over 1000 industry leaders and subject experts from
diverse fields as speakers. Building a bridge between technology and finance, Fintech Surge featured
100+ globally leading financial industry experts, entrepreneurs, innovators, investors, and regulators.
With over 40 million registered users, including 15+ million monthly active mobile wallets, MMBL
remains committed to expanding access to financial services and bridging the financial gaps that persist
in Pakistan. Abubakr underlined that the non-financial factors including environment, social, and
governance are crucial to the sustainability of the fintech industry, therefore, these should be
considered to initiate long-term growth with reduced risks. He also emphasized the need for businesses
to ensure compliance with social and environmental requirements to anchor themselves well in the
societies they function in.
Quoting the example of his organization, Sardar Abubakr shared: “MMBL commits all efforts with
sustainability and customer-centricity at the forefront. The Bank strives to catalyze positive social
change through the financial inclusion of marginalized segments, especially women and the rural
populations, not only through microcredit but also through specialized training and provision of access
to customized digital and financial product offerings. We are deploying the power of digital – a great
enabler & equalizer, to empower the masses holistically.”
He further remarked that the world is undergoing significant changes pertaining to climate change and
sustainability challenges, which is why businesses need to be more responsible and empathetic to
create shared value for themselves as well as the communities they serve.
As an industry leader, MMBL strives to empower the unbanked and underbanked segments to
participate in the financial ecosystem by providing them opportunities to support their families, start
businesses, invest in education, and build a financially stable future. With more than 70% of the
Pakistani population still unbanked, the door is wide open for digital innovation to step in and influence
positive social change.
