Money, Finance and Banking Blog in Pakistan
Microfinance Banking
Orascom May Acquire Microfinance Bank
Mar 11th
Orascom Telecom, parent organisation of Pakistan’s leading cellular company, is in talks to acquire a microfinance bank in order to enter the financial business and strengthen its appearance in the country.
The News has learnt that a delegation of Orascom comprising almost seven members including the former CEO Mobilink Zohair Khaliq is currently in Pakistan to look this deal. In this regard the first round of talk between the Orascom people and State Bank of Pakistan (SBP) was already held while the company has seriously been looking to acquire the microfinance bank in order to improve the mobile commerce services.
The team More >
Kashf and Standard Chartered Come Together for Microfinance Loans
Jan 16th
Kashf Foundation and Standard Chartered Bank (SCB) Pakistan have signed an agreement for providing Rs350,000 million to the prior over a period of two years. This amount will be utilized by Kashf Foundation for for providing microfinance loans to low income families.
It is to be noted that this amount has been provided by International Fund for Agricultural Development to Standard Charted Bank Pakistan under the microfinance category.
Kashf Foundation has been working as the pioneer institution providing microfinance facility in Pakistan. It has 0.3 million clients across the country. Pakistan Poverty Alleviation Fund coordinated for making this agreement between Kashf Foundation and Standard Chartered More >
SBP to Provide Funds to Tameer Microfinance for Institution Building
Aug 1st
The State Bank of Pakistan signed a Memorandum of Understanding (MoU) with Tameer Microfinance Bank (TMB) according to which SBP will provide Rs 82 million to TMB over a period of one year under the Institutional Strengthening Fund (ISF).
Syed Salim Raza, Governor State Bank of Pakistan has expressed the hope that this grant facility would help Tameer to launch branchless banking operations and build its institutional capacity.
It may be mentioned here that the State Bank in 2008 introduced Prudential Regulations for Branchless Banking to provide a regulatory framework for banks to provide services in areas where they cannot be physically located.
Earlier More >
SBP to Provide Rs215 million to Microfinance Institutions
Jul 24th
State Bank of Pakistan (SBP) will provide Rs215 million under the institutional strengthening fund to the Pakistan Microfinance Network (PMN) and NRSP Microfinance Bank.
Under the arrangement, the SBP will provide Rs133 million to PMN over the next five years and Rs82 million to NRSP Microfinance Bank over a period of one year for promotion of microfinance services in the country.
In addition, Rs82 million have also been approved for Tameer Microfinance Bank over the next one year, the central bank said in a handout.
Senior officials of the SBP and the UK Department for International Development (DFID), who were present at the More >
Kashf Foundation for Women Welfare
Jul 13th
Roshaneh Zafar, the Founder Kashf Foundation and CEO of Kashf Microfinance Bank has stated that our organization is endeavoring for the welfare of women to whom microfinance loans are given to improve their financial status.
Jim Grayson, a member of US Congress said in the joint meeting of Kashf Foundation, USAID and Khushhali Bank that the people in USA are extremely concerned about the welfare of the people of Pakistan and believed in job creating through microfinance.
She added that the Bank was made a role model for socio-economic improvement. Later a delegation of USA State Department met with various leaders of More >
