Karachi: Wednesday,December 22nd, 2021
President & CEO U Microfinance Bank Limited(U Bank) Mr. Kabeer Naqvi,President &CEO Allied Bank Limited (ABL)Mr.Aizid Razzaq Gill and CEO ABL Asset Management Company Limited(ABL AMC) Mr. Alee Khalid Ghaznavi, signed Memorandum of Understandings(MOUs)of strategic partnership to promote financial inclusion in the country.
This collaboration between the institutions will open avenues to supportfinancial and social inclusion of the unbanked population. The areas of interest between U Bank,ABL& ABL AMC include medium to long term Debt Finance, Structured Finance, Housing Finance,Islamic Finance, Mutual Funds and variousother funding options.
Speaking atthe occasion, Mr. Kabeer Naqvi, President & CEO of U Bank stated that thisstrategic partnership with ABL group will strengthen our ability to provide a broad range of banking services to the underserved segment of the society. Furthermore, this will allow usto create efficient synergies with both entities to design and introduce innovative financing solutions.
President & CEO of ABL Mr. Aizid Razzaq Gill appreciated U Bank�s relationship with ABL and expressed the desire to further strengthen their engagement going forward. He also discussed the need of developing industry videlending controls to minimize non-performing loans, and investing on human resources to deliver quality services and financial solutions to the masses.
Mr. Alee Khalid Ghaznavi Chief Executive Officer ABL Asset Management, said at the occasion that we are excited for this strategic alliance with U Bank which brings us closer to our vision of providing innovative solutions to help investors reach their investment goals and create lasting impact at large.
The ceremony was held at ABL�s Head Office and was witnessed by the senior management of both institutions including Mr. Mujahid Ali, Group Chief – Information Technology Group, Mr. Sohail Aziz,Group Chief – Digital Banking Group, Mr. Moin Khalid, Group Chief – Risk Management GroupfromABL; Mr. Syed Khalid Husain – Country Head Business Development, Mr. Saqib Mateen – CFO and Mr. Muhammad Asif – Head HR from ABL AMC and Ms. Mariam Pervaiz – Chief Commercial Officer & Chief of Staff, Mr. Muhammad Farooq Kamran � Head of Corporate Banking & Investments, Mr. Mohsin Aslam � Head Budgeting Planning & Corporate Finance and Ms. Madiha Latif � Assistant Manager Corporate Finance of U Bank.
About U Bank:
U Microfinance Bank Ltd. (U Bank) is a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL) � Etisalat. The bank has a network of more than 200 branches, across 183 cities and rural areas in Pakistan and offers a wide range of microfinance loans, deposit products and branchless banking solutions. U Bank�s branchless banking offers services under the banner of UPaisa in collaboration with Ufone (Pak Telecom Mobile Limited). The service is offered at nearly 45,000 agent locations across Pakistan.
 Mr. Kabeer Naqvi,President &CEO Allied Bank Limited (ABL)Mr.Aizid Razzaq Gill and CEO ABL Asset Management Company Limited){kind=link}