Saturday, February 4, 2023

Mobilink Microfinance Bank represents Pakistan’s digital and fintech potential at GITEX Global 2022

Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL)’s Chief Finance and Digital Officer (CFDO), Sardar Mohammad Abubakr represented Pakistan’s digital agenda first and fintech potential at GITEX Global 2022 in Dubai.

He shared his expertise on Fintech Surge: ESG & Fintech – Society, Inclusion and the Environment at the summit held in the second week of October at Dubai World Trade Centre. GITEX GLOBAL, the world’s largest tech show, unifies the world’s most influential ecosystems advancing business, economy, society, and culture through the sheer power of innovation.

MMBL is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. VEON says it is helping transform lives, creating opportunities for greater digital inclusion, and driving economic growth across countries that are home to more than 8% of the world’s population.

During his address, Sardar Abubakr stressed the need to recognize the huge strides Pakistan has made in digitalization. Dedicated to harnessing the power of technology, MMBL is at the forefront of digital innovation, making digital and financial solutions more inclusive, efficient, and affordable for everyone, especially women and Small & Medium Enterprises (SMEs)- two highly influential segments for increased economic development. The Bank’s ever-growing partnerships portfolio is a testament to the expansion we are doing for maximizing the outreach of our financial services, he said.

Abubakr underlined that the non-financial factors including environment, social, and
governance are crucial to the sustainability of the fintech industry, therefore, these should be considered to initiate long-term growth with reduced risks. He also emphasized the need for businesses to ensure compliance with social and environmental requirements to anchor themselves well in the societies they function in.

Citing the example of his organization, Sardar Abubakr shared: “MMBL commits all efforts with sustainability and customer-centricity at the forefront. The Bank strives to catalyze positive social change through the financial inclusion of marginalized segments, especially women and the rural populations, not only through microcredit but also through specialized training and provision of access to customized digital and financial product offerings. We are deploying the power of digital – a great enabler & equalizer, to empower the masses holistically.”

Pakistani population is still unbanked, and the door is wide open for digital innovation to step in and influence positive social change.

This year, Gitex Global is hosting more than 4,500 companies, thousands of exhibitions, and 100,000+ attendees from 170 countries, in addition to over 1000 industry leaders and subject experts from diverse fields as speakers. Building a bridge between technology and finance, Fintech Surge featured 100+ globally leading financial industry experts, entrepreneurs, innovators, investors, and regulators.
 
With over 40 million registered users, including 15+ million monthly active mobile wallets, MMBL remains committed to expanding access to financial services and bridging the financial gaps that persist in Pakistan.

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