The strategic bank x FinTech partnership aims to help merchants manage omnichannel payments and also seamlessly access financial services on an agile-tech platform.

The partnership intends to help millions of feature-phone users to make digital payments under the microfinance ecosystem.

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

The proceeds of this Green Bond will be used to finance electric mobility, renewable energy, and energy efficiency projects.

This first of its kind announcement between Bangladesh’s first digital-only microfinance provider and UK fintech will enable Bangladesh’s app-based entrepreneurs to access the credit they need to purchase goods to enable them to carry out their jobs.

Through this funding, the company plans to disburse income-generating loans worth INR 5,000 crore in the next five years, resulting in an overall reduction of four million tones of carbon emission, the firm said in a statement on 3 October.

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. 

The three-year project aims to eliminate barriers in access to finance for young entrepreneurs, create income generation opportunities and promote financial inclusion and growth.

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.

An 11-member committee, headed by Grameen Bank Chairman Prof Dr A K M Saiful Majid, has been formed to look into the cost of the MFI's services and to determine if there is any scope to reduce the charges.