October 13, 2021: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has won the prestigious Retail Banker International (RBI) Asia Trailblazer Award 2021 for being the ‘Best Retail Bank in Pakistan’, along with an honorable mention of “Highly Commended” for its House Loan in the Best Loan Offering category.
Organized in collaboration with Arena International, UK, Middle East Economic Digest (MEED), Dubai, and GlobalData (Singapore), the Annual RBI Asia Trailblazer Awards celebrate remarkable innovations and achievements in customer service in the financial and banking industry across the Asian continent. For the 12th edition of the coveted awards this year, more than 300 submissions were received in various categories from 25 countries. The winners were announced in a virtual ceremony in view of the COVID-19 safety protocols.
Commenting on the achievement, Ghazanfar Azzam, President & CEO MMBL said: “The award comes as a testament to MMBL’s strong commitment to customer excellence. We always strive to improve the banking experience of our customers by offering customized digital products and services that enable and empower individual users and small and medium businesses in the country. The recognition has reinvigorated our resolve to further innovate, optimize and modernize our retail services to better facilitate our customers, and foster financial inclusion in the country.”
Muhammad Asim Anwar, Chief Business and Products Officer MMBL said: “We are committed to promoting digital financial inclusion through an enabling fintech ecosystem that serves everyone alike even in the remotest parts of Pakistan. We are humbled to be recognized in the Asian continent for being the best retail bank in the country and are proud of our diversified product portfolio, including the House Loan, which has been highly commended as the best loan offering in the region. This accolade is a significant achievement, especially as it dovetails with the government’s flagship initiative, Naya Pakistan Housing Scheme.”
Retail Banker International (RBI) is an editorially independent briefing service that, over the last 36 years, has become an essential resource for C-suite executives from across the global retail banking and consumer finance ecosystem. RBI provides subscribers with vital coverage across the given key subject areas: product innovation, distribution channels, leadership strategy, regulation, and marketing. RBI’s recognition of MMBL’s retail services will further bolster the bank’s standing as one of the most preferred digital banks in the country.
About Mobilink Bank (MMBL)
MMBL, being the largest digital bank in Pakistan, serves millions of individual and small and medium businesses across the country through its vast digital financial ecosystem. The bank’s customized product range caters to the evolving financial needs of different socio-economic groups and businesses particularly across the rural stratum, thereby bringing millions of unbanked segments into the fold of financial inclusion.
Mobilink Microfinance Bank Ltd. is Pakistan’s largest digital bank with over 31 million registered users, including 14 million monthly active digital wallets. Backed by a multinational telecommunication services company – VEON Ltd., MMBL is a sister concern of Jazz and is a leading player in lending to small and medium-sized enterprises.
MMBL started operations in April 2012. Being a hybrid model that combines traditional microfinance with mobile/ digital banking technologies, the bank now operates with 100 branches and is committed to promoting financial inclusion for all. The bank has disbursed over 800,000 individual and micro-enterprise loans and over 8,200,000 nano-loans since its inception.
MMBL was recently recognized as “Digital Microfinance Bank of the Year” by CFA Society Pakistan and also won a CSR award in the category of “Diversity & Inclusion Leader” by The Professionals Network. It is the only bank in Pakistan, microfinance or commercial, that was recognized by PACRA recently, as having a ‘Positive Outlook’ and continues to remain outside the agency’s Watchlist. Further, the Institute of Bankers Pakistan has also recognized MMBL as “Bank of the Unbanked” in recent years.
The bank is committed towards serving its customers and shareholders through responsible business practices. All our efforts are aligned with the United Nations Sustainable Development Goals 2030 and the State Bank of Pakistan’s directives.