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VEON's Mobilink Microfinance Bank Promotes Financial Inclusion and Supports Farmers with Programmes to Drive Economic Prosperity in Pakistan

15/09/2022

Amsterdam, 15th September 2022: VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and services, today announces that its operator Mobilink Microfinance Bank in Pakistan has launched three major initiatives to financially empower female entrepreneurs and support farmers in the country. Mobilink Microfinance Bank Ltd. (MMBL) is VEON's financial services arm in Pakistan and the country's largest digital bank.

The three Mobilink Microfinance Bank initiatives include low-cost 4G handsets for customers bundled with the bank's digital banking application, e-commerce services for female entrepreneurs, and an agriculture advisory service for farmers in Pakistan.

Mobilink Microfinance Bank (MMBL) is introducing low-cost 4G handsets for its customers to drive participation in the digital economy among marginalized groups within the population. Targeted at female entrepreneurs, the substantially discounted Digit 4G handsets will come pre-loaded with the digital banking application, MMBL DOST, which will enable customers to obtain quick financial assistance, pay bills, make money transfers and use a vast array of digital banking services.

Mobilink Microfinance Bank has also collaborated with Daraz, Pakistan's largest e-commerce platform, to help incentivise and upskill female entrepreneurs with brick-and-mortar stores to go digital and expand their customer outreach across the country.

Although females comprise of almost half the population of Pakistan, their financial inclusion figure stands at 7%1. With a growing 3G/4G subscriber base in the country that currently represents 53% of the total 195 million cellular subscribers2, Mobilink Microfinance Bank, under its flagship Women Inspirational Network (WIN) programme, aims to support an enabling digital financial ecosystem for empowering women, an underserved, yet influential segment of the country through such initiatives.
LINK: https://www.veon.com/media/media-releases/2022/veon-s-mobilink-microfi...
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