UMBL, Kashf Foundation join hands for digitization of loan repayments

Staff Reporter

U Microfinance Bank Limited and Kashf Founda-tion signed an agreement to digitize the loan repay-ments and disbursement.

Through this collaboration, U Microfinance Bank will extend its channel ser-vices to Kashf Foundation for providing easy and secure loan collection and disbursements services through UPaisa Mobile wallets to its customers.

Speaking at the occasion Mr. Kabeer Naqvi – Presi-dent & CEO of U Microfinance Bank said that “We strongly believe that collaboration between tradi-tional microfinance and digitization is necessary to build a forward looking financial sector geared to-wards serving a larger segment of financially ex-cluded society.

These collaborations will become starting point for access to credit, saving, health insurance and much more.

We are excited about our partnership with a microfinance pioneer like Kashf Foundation which will unlock potential for both partners by streamlin-ing services and bring efficiency and ease to the lives of the customers”.

Ms. Roshaneh Zafar, MD and CEO – Kashf Founda-tion said that “Increasing access to digital financial services is a powerful tool to enhance women’s economic opportunities to drive sustainable growth in the country.

In this endeavor, Kashf Foundation is pleased to partner with U Microfinance Bank Limited to pro-vide access to innovative digital solutions to socially and economically empower women micro-entrepreneurs across Pakistan.

There is no doubt that promoting women empowerment leads to healthier families, prosperous communities and a thriving economy.”

This joint step will further enhance U Bank’s and Kashf Foundation’s work for financial inclusion in Pakistan.

About U Microfinance Bank:
Establishing itself as a pioneer within the industry; U Bank is the largest microfinance bank with 201 branches and 200 ATMs across 183 rural areas and cities in the country, providing a wide range of mi-crofinance loans, digital & branchless banking solu-tions and deposit products.

In collaboration with Ufone, the bank offers branchless baking services in over 45,000 designated agent locations all across Pakistan under the name of UPaisa.

About Kashf Foundation:

Kashf Foundation, established in 1996 as a microfi-nance service provider, aims to alleviate poverty in Pakistan and empower women by providing innova-tive and transformative products and services to low-income households.

Previous articleFederal govt disburses dev funds of Rs 658b in FY2020-21
Next articleQisstPay reveals its game-changing ‘Buy Now Pay Later’ initiative