U Microfinance Bank Limited and Kashf Foundation have signed an agreement to digitize the loan repayments and disbursement. Through this collaboration, U Microfinance Bank will extend its channel services to Kashf Foundation for providing easy and secure loan collection and disbursements services through UPaisa Mobile wallets to its customers.
Speaking at the occasion Kabeer Naqvi – President & CEO of U Microfinance Bank, said, “We strongly believe that collaboration between traditional microfinance and digitization is necessary to build a forward-looking financial sector geared towards serving a larger segment of financially excluded society.”
“These collaborations will become a starting point for access to credit, saving, health insurance, and much more. We are excited about our partnership with a microfinance pioneer like Kashf Foundation which will unlock potential for both partners by streamlining services and bring efficiency and ease to the lives of the customers,” he added.
Roshaneh Zafar – MD and CEO of Kashf Foundation, said, “Increasing access to digital financial services is a powerful tool to enhance women’s economic opportunities to drive sustainable growth in the country. ”
“In this endeavor, Kashf Foundation is pleased to partner with U Microfinance Bank Limited to provide access to innovative digital solutions to socially and economically empower women micro-entrepreneurs across Pakistan. There is no doubt that promoting women empowerment leads to healthier families, prosperous communities, and a thriving economy,” she added.
This joint step will further enhance U Bank’s and Kashf Foundation’s work for financial inclusion in Pakistan.