Waseela Microfinance Bank Limited (WMBL) is the 10th licensed microfinance bank in Pakistan by State Bank of Pakistan under ‘Microfinance Institution Ordinance 2001’ and is 6th bank having nationwide operating mandate. WMBL started its operations on May 2, 2012.
Orascom Telecom Holding S.A.E (“Orascom Telecom”) is the major sponsor of the Bank and is the owner of Pakistan largest mobile phone operator (Mobilink) having more than 35 million subscribers all over Pakistan.
WMBL is uniquely positioned to leverage the new SBP policies and directions to create a game changing business model that would have a transformational impact on the financial services sector in Pakistan. The combination of a WMBL with Mobilink, having largest established nationwide retail distribution muscle, would go a long way in filling the gap in the market identified by the SBP.
WMBL will capitalize on the distribution network of Orascom Telecom’s mobile operations in Pakistan, by making use of its database and relationship with over 35 million customers in Pakistan, as telecom access will be used as
the focal point to effectively allow customers to use financial services.
WE serve low income wage earners and self-employed micro- business owners in rural and urban parts of the country with the support of a strong and competent management team. In addition, women entrepreneurs and small scale farmers will be provided with micro loans at competitive rates to increase their quality of life.
WMBL endeavor to provide conducive branchless banking to its low end and untapped market segment and is using Mobilink as a super-agent for branchless banking. With the vast agent network of Mobilink and clearly defined structure of its agents, the branchless banking initiative seems to be promising one and is forecasted to perform well by bringing banking to the doorstep of customers and increasing customer convenience to access his funds in a more efficient and secured way.
Banking on your mobile phone
To set standards of excellence in microfinance and related services including branchless banking and to achieve exceptional values for our shareholders and employees.
Category: Payday loans