Latest news with #MobilinkBank
Business Recorder
31-07-2025
- Business
- Business Recorder
Financing a women-led future
In a development with far-reaching implications for Pakistan, the State Bank of Pakistan has officially adopted the Women Entrepreneurs (WE) Finance Code, an Asian Development Bank (ADB) initiative aimed at closing the gender financing gap. Backed by a USD 500 million financing commitment to the Government of Pakistan, this move holds immense potential to transform the country's economic trajectory by enabling women-led businesses to scale sustainably. The gender finance gap in Pakistan is structural and continues to hamper equitable economic progress. Despite making up nearly half the population, only 14 percent of women have access to formal financial services. Many operate in informal sectors, unbanked and unsupported, with limited protection or opportunity. Conventional lending systems, reliant on collateral, have long ignored the realities of small, often home-based, women-run businesses. A study by PIDE highlights that up to 78 percent of female employment lies in the informal sector. And while women represent around 8 percent of Pakistan's MSMEs, they receive less than 5 percent of formal credit. Yet data, both global and our own, proves what we at Mobilink Bank have always known: women are responsible borrowers. Women-led MSMEs in our portfolio show lower default rates and higher digital engagement, making a strong case for mainstreaming gender finance. Fintech is part of the solution. Platforms like JazzCash are helping bridge the gap, but the digital divide remains real. Women in Pakistan are 38 percent less likely to own a smartphone, a gap rooted in affordability, access, and deep-seated social norms. That directly limits access to digital wallets, mobile banking, and tools that could bring financial inclusion to their fingertips. Still, these challenges are not insurmountable. With community-based, data-driven approaches, we've seen how empathy and innovation unlock extraordinary potential. Mobilink Bank has financed over 79,000 women-led businesses and digitally onboarded thousands more through user-friendly solutions tailored for their needs. But scaling access isn't enough; we must also invest in transformation. That's why we are focusing on building financial literacy and entrepreneurial capability. So far, over 25,000 women across Pakistan have received financial literacy training through Mobilink Bank. We've also launched Pakistan's first women-centric incubator within the microfinance industry to nurture scalable, formal women-led enterprises, marking a critical move toward systemic change. The programme's first cohort graduated 13 high-potential women-led startups, with the second cohort ongoing, incubating 20+ entrepreneurial ventures. Together with JazzCash, we're building both digital and physical pathways to inclusion. Women comprise 32 percent of our 52 million customers, nearly 25 percent of our 8 million active borrowers, and 10 percent of our 400,000+ merchants. We're proud that 25 percent of our 150,000 daily nano-loans serve women customers, showcasing real impact, at scale. It won't be fair to evaluate microfinance solely through the lens of profitability, as its true success lies in its impact on social indicators. For instance, in Pakistan 60 percent of all agricultural lending is facilitated by the microfinance sector, and nearly half of all mortgages in the country are underwritten by it. Through widespread digitization and nano-lending, the industry has created sustainable socioeconomic value. This is despite the fact that our industry is not only significantly younger but also individually smaller than any of the top five banks. Mobilink Bank leads the microfinance industry, holding over 17 percent of total assets and net advances in the sector, valued at Rs. 183 billion and Rs. 79 billion, respectively. We look forward to carrying this momentum onto our engagement with We Finance Code, which offers a strategic framework for Pakistan's financial transformation. It is an opportunity not only to align with global best practices, but also to institutionalize long-overdue change. We must also elevate the narrative. National campaigns spotlighting successful women entrepreneurs, demystifying finance, and challenging prevailing stereotypes are vital to inspiring the next generation of female founders. Copyright Business Recorder, 2025
Business Recorder
17-05-2025
- Business
- Business Recorder
Mehdi joins Jazz as Group Head Corporate, Regulatory Affairs
ISLAMABAD: Zaheer Mehdi has joined Jazz as Group Head Corporate and Regulatory Affairs, effective June 16, 2025. In this role, he will also support governance across Jazz's financial services entities — Mobilink Bank and JazzCash — as the company strengthens its institutional oversight and strategic preparedness. Zaheer brings over 30 years of experience in corporate banking, regulatory affairs, public policy, and financial services. Prior to joining Jazz, he served as Chief Government and Corporate Relations Officer at Engro Corporation, where he led regulatory advocacy and contributed to corporate strategy as part of the Executive Committee. His distinguished career includes senior roles at Standard Chartered, where he served as CEO of Standard Chartered Modaraba and Managing Director of Standard Chartered Bank, working closely with regulators, policymakers, and industry stakeholders. As part of this transition, Jazz also announced that Syed Fakhar Ahmed, who has led the Corporate and Regulatory Affairs function with distinction, will now take on the role of Advisor, Special Initiatives. Over the years, Fakhar has played an instrumental role in advancing Jazz's public policy agenda, expanding high-level engagement, and ensuring the company's credible voice during moments of national importance — from the COVID-19 pandemic and 2022 floods to the evolving geopolitical climate. Welcoming him to the leadership team, Aamir Ibrahim, CEO of Jazz and Chairman of Mobilink Bank, said, Aamir Ibrahim, CEO of Jazz, said: 'Zaheer's appointment reflects our commitment to strengthening institutional relationships and regulatory alignment as we evolve into a multi-vertical ServiceCo. His cross-industry experience and deep understanding of policy and governance will be key to our next chapter. I would also like to thank Fakhar for his steady leadership and the impact he's made in advancing Jazz's external engagement agenda.' These leadership changes are aligned with Jazz's broader transformation into Pakistan's leading ServiceCo—an integrated digital services company serving over 100 million users across fintech (JazzCash), entertainment (Tamasha), digital self-care (SIMOSA), insurtech (FikrFree), cloud (Garaj), and gaming (GameNow). This evolution reflects Jazz's strategic shift from connectivity to capability, delivering technology-driven platforms that improve lives and livelihoods across the country. Copyright Business Recorder, 2025
Business Recorder
01-05-2025
- Business
- Business Recorder
Mobilink Bank and Daraz Pakistan partner to empower MSMEs
ISLAMABAD: Pakistan's leading digital microfinance bank, Mobilink Bank, has announced a strategic partnership with Daraz Pakistan, the country's largest e-commerce platform, to accelerate financial inclusion, access to finance and digital enablement of micro, small and medium enterprises (MSMEs) across Pakistan. The collaboration advances the two institutions' joint vision for economic growth at the grassroots level for long-term macroeconomic gains. President and CEO, Mobilink Bank, Haaris Mahmood Chaudhary, and Ehsan Saya, Managing Director, Daraz Pakistan & Sri Lanka, formalised the collaboration in Islamabad. Under the partnership, Mobilink Bank will provide tailored financing solutions (ranging from Rs 25,000 to Rs 3 million) to Daraz-affiliated MSMEs and women entrepreneurs. Copyright Business Recorder, 2025
Arab News
10-04-2025
- Business
- Arab News
Campaign on women's inheritance wins Pakistani microfinance bank silver at Dubai awards
KARACHI: Pakistan's leading digital microfinance institution, Mobilink Bank, has won silver for its 'Invisible Heirs' campaign at the prestigious Dubai Lynx Awards 2025, the MENA region's biggest creative and marketing event, the financial institute said on Thursday. Mobilink Bank's campaign excelled in the 'Creative Strategy Corporate Purpose & Social Responsibility' category for 'elevating consciousness against the systemic denial of inheritance share for most women in Pakistan.' The campaign tackles gender-based financial inequality to foster financial autonomy for women. The campaign featured a video narrative highlighting women's emotional and societal challenges in securing their inheritance, which sparked a nationwide conversation and inspiring action. The bank also innovatively integrated an 'Inheritance Calculator' in its mobile app to allow women to easily calculate their rightful share in inheritance. 'Being recognized at the biggest marketing event in the MENA region refuels our passion to work more vigorously toward women's long-term financial liberation,' Haaris Mahmood Chaudhary, president and CEO of Mobilink Bank, said. 'Mobilink Bank empowers women to overcome deeply rooted social challenges through future-ready digital innovation and strong social advocacy. We believe the campaign's recognition will translate into solid gains toward the social cause closest to our hearts.' The Dubai Lynx Awards are the Middle East and North Africa region's premier platform for celebrating excellence in creative communications, marketing and advertising. Held annually in Dubai, the event brings together top agencies, brands, and creative minds from across the region to showcase ideas that drive business results and positive change.
