U Microfinance Bank, Kashf Foundation sign pact

F.P. Report

LAHORE: U Microfinance Bank Limited and Kashf Foundation signed an agreement to digitize the loan repayments and disbursement. Through this collaboration, U Microfinance Bank will extend its channel services to Kashf Foundation for providing easy and secure loan collection and disbursements services through UPaisa Mobile wallets to its customers.
Speaking at the occasion Mr. Kabeer Naqvi – President & CEO of U Microfinance Bank said that “We strongly believe that collaboration between traditional microfinance and digitization is necessary to build a forward looking financial sector geared towards serving a larger segment of financially excluded society. These collaborations will become starting point for access to credit, saving, health insurance and much more. We are excited about our partnership with a microfinance pioneer like Kashf Foundation which will unlock potential for both partners by streamlining services and bring efficiency and ease to the lives of the customers”.
Ms. Roshaneh Zafar, MD and CEO – Kashf Foundation said that “Increasing access to digital financial services is a powerful tool to enhance women’s economic opportunities to drive sustainable growth in the country. In this endeavor, Kashf Foundation is pleased to partner with U Microfinance Bank Limited to provide access to innovative digital solutions to socially and economically empower women micro-entrepreneurs across Pakistan. There is no doubt that promoting women empowerment leads to healthier families, prosperous communities and a thriving economy.”
This joint step will further enhance U Bank’s and Kashf Foundation’s work for financial inclusion in Pakistan.
Establishing itself as a pioneer within the industry; U Bank is the largest microfinance bank with 201 branches and 200 ATMs across 183 rural areas and cities in the country, providing a wide range of microfinance loans, digital & branchless banking solutions and deposit products.
In collaboration with Ufone, the bank offers branchless baking services in over 45,000 designated agent locations all across Pakistan under the name of UPaisa.
Kashf Foundation, established in 1996 as a microfinance service provider, aims to alleviate poverty in Pakistan and empower women by providing innovative and transformative products and services to low-income households.