Speaking on the occasion, Mr. Kamran Nishat expressed his confidence in this strategic agreement.and brought special attention on M&P’sability to cater to unbanked Pakistanis living in extremely remote areas. He stated, “The Branchless Banking market in Pakistan is growing positively but the success should not restrict us from losing sight of the broader vision; fosteringfinancial inclusionacross Pakistan.M&P believes that this will only be possible once the agent base is expanded in terms ofprofile and outreach.The growth has come with its own set of issues and there is a genuine need of open, independent and nationalagent network management services provider which is the key value proposition that M&P shall bringinto the ecosystem.” 

Mr. Faiq Sadiq added to this and said, “There is no doubt that this agreement will allow HBL to achieve its goal of financially including Pakistan’s masses by providing access to reliable and cheap financial services. We hope to use this opportunity to provide access to capital to various unbanked areas of Pakistan”. 

HBL Expressis currently providing convenient and reliable banking services to the unbanked masses at affordable prices through its agent network spread across Pakistan. The strategic partnership between these two entities is envisioned to further strengthenthe branchless banking industry and the financial inclusion ecosystem in Pakistan. 

About HBL

HBL was the first commercial bank to be established in Pakistan in 1947. With a history that is inextricably linked with the history of Pakistan itself, HBL has always been a bank and a brand for the masses. Over the years, HBL has grown its branch network and become the largest private sector bank with over 1,500 branches and more than 1,200 ATMs across the country, servicing a customer base that exceeds 6 million relationships.HBL’s key areas of operation encompass product offerings and services in Retail Banking, Investment Banking, Commercial and Corporate Banking; of which HBL has the largest portfolio in Pakistan. SME and Agriculture lending programmes and banking services are also offered in urban and rural centres. 

About Muller & Phipps