The global digital operator VEON last week announces that Mobilink Microfinance Bank Ltd. in Pakistan has signed up to the GSMA’s Connected Women Commitment Initiative set up to accelerate digital and financial inclusion for women.

The partnership will give the bank an opportunity to expand their digital outreach and bring the unbanked population into the financial ecosystem in an efficient manner.

This strategic venture aims to empower the people of Pakistan with a financial solution that is secure, unique and ensures inclusion in the unbanked sector of Pakistan.

The award honors U Bank’s recent introduction of Shari’ah-compliant financial solutions in Pakistan and comes soon after U Bank’s full-scale commercial launch of Islamic Banking services nationwide.

This collaboration will open doors for the provision of financial services to the SAF across a broad spectrum of banking solutions.

The three Mobilink Microfinance Bank initiatives include low-cost 4G handsets for customers bundled with the bank’s digital banking application, e-commerce services for female entrepreneurs, and an agriculture advisory service for farmers in Pakistan. 

Under this agreement, Karandaaz has committed a grant to FINCA Microfinance Bank Pakistan for initiating and running an exploration program that will help FINCA design gender-sensitive products and communication strategy with the aim of reducing the gender gap.

This partnership will strengthen access to financial products and services through digital platforms and improve financial literacy.

Under this collaboration, existing or potential customers of the bank looking to purchase a tractor for their farming needs will be able to book a tractor which will be delivered on easy terms and conditions through a quick and hassle-free process.

With this addition, the company stays true to its vision of providing investors of Pakistan access to all asset classes.