Press Releases

16
December 2011

Asasah becomes first MFI to use Easypaisa for loan repayments

LAHORE, December 16, 2011: Asasah has become the first NGO and microfinance institution (MFI) to utilize Telenor Pakistan and Tameer Microfinance Bank's Easypaisa services for repayment of small loans. The facility will significantly reduce the inconvenience for Asasah clients, who are mostly women, to pay back the loans they take out from the NGO.

Asasah customers, after receiving a loan from any of Tameer Bank's 100 branches will be able to return it through any of the 14,000 Easypaisa agents, present in 600 cities and towns across Pakistan.

To announce the partnership, a ceremony was held at a local hotel. Those who attended included Nadeem Hussain, CEO & President Tameer Microfinance Bank; Tabinda Jaffery, CEO Asasah and Syed Mohsin Ahmed, CEO Pakistan Microfinance Network.

In his comments, Nadeem Hussain, President & CEO Tameer Bank said: Easypaisa services are a fast growing mobile banking solution. Because our aim is to offer inclusion to the unbanked population, every organization that uses Easypaisa services helps us with our mission. With Easypaisa, we hope to bring ease and convenience to customers of Asasah.

Tabinda Jaffery, CEO Asasah in her remarks said: Repayment of loans through Easypaisa agents will prove to be an extremely convenient solution for our clients who are all women. The facility will help in our aim to improve the quality of life of financially poor and socially deprived people by offering them small loans to enhance their productivity.


Talking about the need for financial inclusion, Syed Mohsin Ahmed, CEO Pakistan Microfinance Network said: At Pakistan Microfinance Network, we believe that the future of financial inclusion lies in building synergies to provide financial services to the low income segment through alternative delivery channels. This initiative will help MFIs like Asasah provide value added services to its customers and help improve its outreach geographically. We hope that other MFIs would follow in the same footsteps and build partnerships with Banks/MNO to provide access to financial services.

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