Mobilink Microfinance Bank Limited, VEON’s financial services arm and the largest digital bank in Pakistan, launched three major microfinance initiatives as part of its continuing efforts to financially empower women entrepreneurs and to support small and medium-sized farmers in the country. The initiatives were formally launched by VEON Group CEO, Kaan Terzioglu, during his recent visit to Pakistan.
As part of the first initiative, Mobilink Microfinance Bank (MMBL) has launched low-cost 4G handsets for customers, especially female entrepreneurs, aimed at driving participation in the digital economy among marginalized groups within the population.
The substantially discounted Digit 4G handsets will be available across Mobilink Microfinance Bank’s vast branch network and will come pre-loaded with the bank’s digital banking application, MMBL DOST, that will enable customers to obtain quick financial assistance, pay bills, make money transfers and use a vast array of digital banking services. Going forward, Mobilink Microfinance Bank will be offering these subsidized 4G handsets as part of its loan portfolio.
Under the second initiative, Mobilink Microfinance Bank has collaborated with Daraz, Pakistan’s largest e-commerce platform, to help incentivise and upskill female entrepreneurs with brick-and-mortar stores to go digital and expand their customer outreach across the country. Under the partnership, female customers will be charged 0% commission for the first three months of their onboarding, giving them ample time to set up their businesses on the digital platform. Moreover, female sellers using Daraz will be able to open accounts digitally and apply for Mobilink Microfinance Bank loans at concessional rates.