Partnerships with stakeholders helping expand operations: CEO Khushhali Microfinance Bank
President and CEO of Khushhali Microfinance Bank Limited (KMBL) Aameer Karachiwalla has emphasized the key role of partnerships with local NGOs, government agencies to expand operations of his bank.
In an interview with The Express Tribune, he said microfinance banks in Pakistan are primarily focused on providing financial services to individuals and small businesses who do not have access to traditional banking services.
The CEO said that microfinance banks required a more personalized and community-oriented approach including building relationships with customers, understanding their needs and circumstances, and offering customized financial solutions to meet those needs.
He informed that microfinance bank is using various channels to
provide financial services in remote and underdeveloped areas. He cited challenges like inadequate
infrastructure, low levels of financial literacy, security concerns, and the
lack of collaterals as stumbling blocks for microfinance banks to provide their
services.
Aameer Karachiwalla said to drive economic growth in Pakistan, our focus is on supporting sectors such as agriculture, livestock, and micro and small enterprises as these have the potential to create significant employment opportunities and contribute to the country’s sustainable economic growth.
KMBL was the first microfinance bank established in Pakistan in
2000. It is managing one of the largest client bases amongst microfinance
banks, with well over 700,000 active borrowers and over 3.1 million active
savers.
UBL is a founding shareholder and investor in Khushhali Microfinance Bank. It increased the shareholding to 30% in 2012, while the remaining 70% stake rests with foreign investors.
Source: Express Tribune