NBP, TP, Telenor Bank ink strategic alliance

National Bank of Pakistan (NBP), Telenor Pakistan (TP) and Telenor Microfinance Bank Ltd. (Formerly Tameer Microfinance Bank Ltd.) formed a strategic alliance to further financial inclusion in Pakistan at a signing ceremony held at local hotel in Islamabad. The strategic alliance is in continuation of the coalitions to promote financial inclusion that now cover almost the entire telecom industry of Pakistan.
The agreement was signed among Saeed Ahmad President& CEO NBP, Irfan Wahab CEO Telenor Pakistan and Yahya Khan CFIO & CDO Telenor Microfinance Bank, in the presence of senior management from the three organizations including Mudassir H. Khan SEVP/Group Chief CRBG, Azfar Jamal EVP/Head Payment Services, Khawaja Asif COO Telenor Microfinance Bank and Rehan Akhter Head of FS Karandaaz among other delegates.

Under the ambit of this arrangement, multiple services will be leveraged upon including Telenor USSD Channel, Agent Network of Easypaisa, and NBP’s transaction base, to fulfil the needs of banked as well as the unbanked population of Pakistan including facilitation of P2G and G2P transactions. With this joining of hands between one of Pakistan’s largest Government-owned banks and one of the Pakistan’s leading telco operators along with its microfinance bank, the dynamics of the Digital Financial Services are sure to reach the next milestone.

After the ceremony Saeed Ahmad President & CEO NBP stated that National Bank envisions creating concrete opportunities to promote financial inclusion through innovation driven by technologies and data, and with that; drive inclusive and sustainable growth in the formal banking sector. He added that combining the strengths of NBP, TP & TMBL together will broaden the vision of our industry to achieve the State Bank’s National Financial Inclusion Strategy. Mr. Saeed further shared that our 3 strategic alliances will contribute towards our country – NBP is a public institution and it is our mandate to develop a digital suite of financial services with an access to market players through any available digital channel for enhanced customer convenience with focus on enabling e-governance infrastructure.

Also talking at the forum, Mudassir H. Khan SEVP / Group Chief CRBG NBP, said that “The Digital Financial Services industry in Pakistan took its first step back in 2009 and has now reached a stage where it needs to be taken to the next level.
NBP is aggressively working to digitize services through partnerships with Mobile Money platforms and Government Institutions; we are setting the goal of financial inclusion in its true sense and will create the right environment for inclusive growth in the country”.

Published in Pakistan Observer, April 11^th, 2017