Press Releases

11
May 2011

Tameer Bank to provide cash management, service delivery facilities to Asasah

KARACHI, May 11, 2011: Tameer Microfinance Bank Limited (TMBL) will offer NGO and microfinance institution Asasah cash management and service delivery facilities for loan disbursements and repayments. Asasah clients will be able to receive disbursed loans at any of Tameer network of 100 branch banking outlets, as well as at any 1Link ATM in the country, and repay the loans via easypaisa branchless banking solution.

A formal agreement to this effect was signed at Tameer head office here today between Nadeem Hussain, President & CEO Tameer Microfinance Bank Limited and Tabinda Jaferry, CEO Asasah in the presence of Yaseen Anwar, Deputy Governor, State Bank of Pakistan.

Speaking about the benefits of branchless banking, the Deputy Governor said: The use of mobile financial services such as easypaisa by microfinance institutions will allow them to serve their clients in a cost-effective and transparent manner. State Bank of Pakistan is pleased to see branchless banking solutions being used to strengthen the microfinance industry.

In his comments, Nadeem Hussain, President & CEO Tameer Microfinance Bank Limited said: As part of Tameer strategy to offer mobile financial services, we are excited to be able to offer a solution to Asasah that we hope will go a long way in introducing to other organizations the benefits of using easypaisa, a service being offered jointly by Tameer and Telenor Pakistan. Microfinancing through mobile financial services has seen great success in other parts of the world and we are keen to replicate this in Pakistan too.

Tabinda Jaferry, CEO Asasah in her remarks said: Because of Tameer services our clients, who are all women and whom we seek to empower, will benefit by being able to obtain a loan easily, and to repay it conveniently through easypaisa, saving them both time and money such as that spent on unnecessary travel.

About Tameer Microfinance Bank Limited
Tameer Bank is a fast-growing microfinance bank licensed by State Bank of Pakistan in August 2005. It is the first bank to have approval to conduct branchless banking business in Pakistan. In December 2008 Tameer entered into an agreement with Telenor Pakistan, which acquired 51 per cent of the shares in Tameer Microfinance Bank. The move is part of the bank strategy to offer mobile financial services in Pakistan.

About Asasah
Asasah -- a registered Pakistani NGO and microfinance institution (MFI) based in central Punjab with 23 branches -- began operations in March 2003 with 100 % commercial funding from the First Elite Capital Modarba. It was the first NGO-MFI in Pakistan to partner with commercial financial institutions. So far it has issued commercially viable loans to 6,800 groups, helping improve the lives of almost 34,000 individuals.

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