Mobilink Microfinance Bank Ltd. (MMBL), a branch of the international digital operator VEON Ltd. that offers integrated connectivity and online services, became the first microfinance institution worldwide to join the GSMA’s Connected Women Commitment Program on Thursday. The programme was started in 2016 to hasten the inclusion of women in Latin America, Asia, and Africa in the digital and financial sectors. Since the initiative’s launch, over 40 mobile carriers have formally committed to providing services like mobile internet and mobile money to over 55 million additional women.
With more than 100 branches, more than 200,000 branchless banking agents, and more than 16 million monthly active clients throughout Pakistan, MMBL will make use of its wide operations to promote the financial inclusion of women. The bank will implement a number of initiatives to provide personalised products and services to improve the proportion of female customers and reach more Pakistani women with digital financial services. By adding 600,000 customers by 2025, the bank hopes to boost the percentage of female customers by 15%.
VEON Group CEO Kaan Terzioglu said, “The utilisation of digital operator services and the use of mobile technology have the potential to alter entire spheres of society and bring prosperity to millions. The MMBL is ideally situated to carry out the goals of the GSMA’s Connected Women Commitment Program thanks to its already solid ties with women throughout Pakistan and its tight collaboration with Jazz Pakistan, our telco arm.”
MMBL has vowed to close the gender gap in the client base for its mobile internet or mobile money services, joining a number of other mobile operators from across the globe. This dedication also builds on VEON’s impressive reputation when it comes to diversity in the nation. In the most recent UN Women Asia Pacific WEP Awards, Jazz Pakistan, the telco division of VEON, was named the best gender inclusive workplace. Jazz Pakistan also won seven medals at the Global Diversity, Equity & Inclusion Benchmark Awards.
According to Sardar Mohammad Abubakr, Chief Operating Officer of MMBL, the bank operates throughout the majority of Pakistan’s rural and urban areas in order to promote financial inclusion and give people economic opportunity. He continued, “Empowering female customers/entrepreneurs is on top of our mantra as embracing this hugely impactful sector will ensure sustainable growth for all. We continue to pursue this ambition of ours through our commitment with GSMA.
