Global digital operator Veon Group has reaffirmed its confidence in the growth potential of Pakistan's microfinance sector and Mobilink Bank by investing a fresh capital of $15 million to drive the bank's strategic ambitions.
The investment will empower Mobilink Bank to expand its offerings in micro, small, and medium enterprise (MSME) financing, explore Islamic banking, and accelerate its ongoing transition into a technologically advanced digital bank, according to a press release issued on Thursday.
As a digital microfinance bank, Mobilink Bank is committed to fostering financial inclusion and meeting the evolving needs of its customer base.
The investment comes at a pivotal time for the banking industry, as the State Bank of Pakistan (SBP) has substantially lowered its policy rate, showcasing its proactive role as a regulator in fostering economic stability and growth.
Mobilink Bank will utilise these funds to optimise its operational capabilities, expand its outreach, and introduce cutting-edge digital products and services to its individual and enterprise customers.
With a focus on underserved and unbanked segments, the bank strives to catalyse economic activity and provide accessible financial solutions to fuel socio-economic development.
The Veon Group's investment highlights its strategic vision of fostering digital innovation. This commitment aligns with its broader objectives of driving technological advancements and empowering communities through sustainable economic development.
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