Islamabad – October 17, 2022: U Microfinance Bank Ltd. (U Bank), Pakistan’s fastest-growing microfinance bank, and Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank, have entered into a strategic partnership for providing housing finance facility for their employees.
The MoU was signed between Mr. Ghazanfar Azzam, President & CEO – MMBL, and Mr. Kabeer Naqvi, President & CEO – U Microfinance Bank, at a ceremony held in Islamabad, in the presence of senior officials from both organizations. Under this partnership, U Bank and MMBL employees will be able to seek housing finance from each other. Eligible employees would have the opportunity to access affordable housing finance of up to PKR 3 Million, and can purchase a new house, flat, apartment, or plot for construction, as well as construct a house on a pre-owned plot or add an extension to an existing housing unit. The loan application process has been simplified to facilitate fast-track processing and efficient disbursement of the loaned amount.
“Financial inclusion is not merely a customer-facing ambition but rather encompasses any and all people who wish to upgrade their quality of living through economic empowerment”, said Ghazanfar Azzam, President & CEO, MMBL. “As an employer of choice, we are vigilant of opportunities to holistically support our greatest asset- people, as much as possible. This partnership with U Bank will help enable our valued human resources with financial security during the uncertain economic conditions of the modern era,” remarked Azzam. Also sharing his thoughts, Mr. Kabeer Naqvi, President & CEO – U Microfinance Bank said, “Our people are our most valuable asset and our aim is to continue to provide services which will improve wellness and living standards of our people. Our people are at the heart of who we are. We are pleased to collaborate with MMBL to facilitate employees on both sides. This also reaffirms U Bank’s belief that the microfinance industry as a whole can synergize and work in harmony to attain mutual goals.”