Staff Reporter Islamabad
Mobilink Microfinance Bank Limited (MMBL), the largest digital bank in Pakistan, has launched a School Loan an innovative offering aimed at finan-cially empowering all non-state schools local private schools, school chains, and technical educational institutions operating in rural, semi urban, and urban areas to continue delivering quality education.
Educational institutions in the country often lack access to finance for funding essential tasks related to staff development, education quality enhance-ment, construction or renovation of school buildings, establishment or expansion of labs, purchase of assets such as furniture or computer equipment, and meeting operational requirements.
MMBL’s School Loan, accessible through the bank’s expansive branch network across Pakistan, offers financing of up to PKR 3 million with terms and conditions specifically designed to offer the greatest convenience to educational institutions in meeting their financing needs.
Through the School Loan, MMBL aims to facilitate borrowers in continuing to provide access to quality education for children across the country.
Speaking about the School Loan product, Muham-mad Asim Anwar, Chief Business Officer, MMBL said, “There is a dire need for a loan product that caters to the financing needs of the education sector in Pakistan as lack of funding and financial con-straints are the biggest bottlenecks faced by many private schools and technical education institutions when planning to undertake up-gradation and im-provement of their operations.
We are excited to do our part in ensuring unhin-dered access to quality education for children in the country.”