In a significant move towards financial inclusion, Mobilink Microfinance Bank Limited (MMBL) and U Microfinance Bank Ltd. (U Bank) have formed a strategic partnership to provide housing finance facilities for their employees. The signing of the Memorandum of Understanding (MoU) between Ghazanfar Azzam, President & CEO of MMBL, and Kabeer Naqvi, President & CEO of U Microfinance Bank, took place in Islamabad, witnessing the presence of senior officials from both organizations.
This collaboration offers a unique opportunity for U Bank and MMBL employees to access housing finance from each other. Eligible employees can avail affordable housing finance of up to PKR 3 Million to purchase new houses, flats, apartments, or plots for construction. They can also utilize the finance to construct houses on pre-owned plots or extend existing housing units.
The partnership has simplified the loan application process, ensuring quick processing and efficient disbursement of the loaned amount. Ghazanfar Azzam, President & CEO of MMBL, emphasized that this initiative goes beyond customer-centric goals, aiming to empower all individuals seeking to improve their quality of life through economic empowerment. He highlighted how this collaboration with U Bank will provide financial security to their valued human resources, particularly during uncertain economic conditions.
Kabeer Naqvi, President & CEO of U Microfinance Bank, shared his thoughts on the importance of their employees and the bank’s commitment to enhancing their well-being and living standards. He reiterated that employees are the heart of their organization, and this partnership with MMBL aligns with U Bank’s belief in the power of synergizing efforts within the microfinance industry to achieve mutual goals.
Both MMBL and U Bank hold prominent positions in the market and are renowned for their exceptional employee culture. They have consistently led various initiatives aimed at sustainable development for their customers and employees alike. With this strategic collaboration, they aim to further support their employees’ financial well-being and strengthen the microfinance sector as a whole, fostering a brighter future for all.
