However, success achieved by microfinancing services that offer help to the under-served shows that the day is not far when under-banked
segments of the Pakistani society would enjoy economic prosperity like the rest of the country.
Aslam Hayat, Acting CEO of Telenor Microfinance Bank, said "We are looking to develop a much deeper connection with our audience as well as clearly communicate the organization's goal which is to empower and enable the unbanked and underbanked individuals to take control of their lives." The bank's main objective behind their campaign is to give all unbanked and under-banked
citizens of Pakistan the tools necessary to not only provide for themselves and their families but also make major contributions towards Pakistan's formal financial system and ultimately help its economy grow and prosper.
Also, the region's young and under-banked
population creates optimistic prospects.
By introducing more innovative digital payment solutions, integrating technology with financial products CIB and Careem cater to the under-banked
citizens and accelerate the financial inclusion in the society.
After the ceremony, Azfar Jamal said "The new initiatives now being executed in partnership withKarandaazPakistan for reaching out to the unbanked and under-banked
, will prove to be the game changer in the banking industry, as NBP is committed to spearhead the evolution of digital financial services and transform the banking landscape over the coming years".
to form a joint venture to be named NextGlocal that will provide financial solutions, mobile banking and telecommunications solutions to the under-banked
population, the company said.
Under the first agreement, Karandaaz Pakistan will provide technical assistance to Bank Alfalah for the development of a digital strategy that will help the bank offer digital financial services to its customers, particularly the under-banked
segments of the market.
The openings are the community development financial institution's newest effort to reverse the state's increase in "banking deserts," a trend that has left 38.7 percent of Mississippi households unbanked or under-banked
The Branchless Banking (BB) remains an effective channel to expand outreach of unbanked and under-banked
Atlas Mara said it is committed to working closely with BPR's existing shareholders, including Rabobank and local shareholders, to maintain the bank's focus on under-banked
sectors, such as small- and medium-sized enterprises and farmers.
The Bank of Bhutan has started basic banking services from community centers in partnership with the Bhutan Post Corporation Limited to include the unbanked and under-banked
population of the country in the banking net.