Egypt-Based Fintech MNT-Halan Acquires Advans Pakistan Microfinance Bank

Source: Innovation Village

In a significant development for Pakistan’s financial sector, MNT–Halan Pak B.V., a Dutch-Egyptian financial market player, has received approval from the Competition Commission of Pakistan (CCP) to acquire Advans Pakistan Microfinance Bank Limited.

The acquisition process began with a share purchase agreement signed between the companies in August 2023, gaining further momentum with the subsequent approval from the State Bank of Pakistan (SBP) in October 2023. The final step required the approval of the CCP and the fulfillment of certain conditions precedent, both of which have now been met.