MCB Bank, Telenor Microfinance ink MoU

LAHORE (Staff Reporter): MCB Bank Limited, declared by Euromoney as “Pakistan’s Best Bank” for a record tenth time, has entered into an alliance with “Pakistan's Best Microfinance Bank”, Telenor Microfinance Bank Limited (Formerly Tameer Microfinance Bank), for its safe, secure, convenient and accessible Easypaisa agent network and mutually beneficial financial services. Under this agreement, MCB Bank, MCB Lite Branchless Banking customers will gain access to Telenor Microfinance Bank/Easypaisa’s diverse network of more than 75,000 agents nationwide.

Now customers will be able to walk into any Easypaisa retail outlet and deposit funds into their MCB wallet and also withdraw cash from the retailer at their own convenience anywhere. This strategic alliance is in line with the State Bank of Pakistan’s National Financial Inclusion Strategy and Vision for 2020, to increase access and quality of financial services for the underserved segments of the economy.

The agreement was signed between MCB Bank CEO Imran Maqbool and Telenor Microfinance Bank CEO Ali Riaz Chaudhry at the MCB House, Lahore. Irfan Wahab- CEO Telenor Pakistan, Yahya Khan - CDO/CFI Telenor Microfinance Bank, Faisal Ejaz Khan - CIO MCB Bank and Ali Naqvi - Business Head Digital Banking MCB, were also present at the ceremony, along with other senior executives from both organisations.

Published in The Nation, March 17^th, 2017