Ufone and NBP have signed an MoU for the provision of services related to customized ICT / MFS solutions and call centre related services. Picture shows Jamal Eddine Trache, Chief Procurement Officer, Ufone and Mudassir H. Khan, SEVP & Group Chief, Commercial & Retail Banking Group (C&RBG), National Bank of Pakistan shaking hands at the ceremony.
National Bank of Pakistan (NBP) inexorable efforts to develop the impoverished sector for the unemployed youth of Pakistan is the core component of the Bank’s integrated community strategy. Now on March 03, 2015, NBP has taken a new leap and signed a Memorandum of Understanding (MOU) with PakTelecom Mobile Ltd. (Ufone) during a graceful ceremony held at Ufone Head office.
Under this arrangement Ufone and NBP have agreed to enter into this MOU for the provision of services related to Customized ICT Solution. In which Ufone will provide an extension of a SMS notification portal for NBP with customization for different pull and push notification. Ufone will handle the SMS and mobile application for banking related initiatives. It will also assist NBP for Contact Center services, which includes, provision of a CMS (Complaint Management System) and Call Center related services. Ufone will collaborate on MFS Solutions with NBP for providing the solution of Salary accounts and transfers, bill payments, advance salary loans, loans repayments and renewals. Ufone will also assist NBP in Pension Disbursement and brand promotion through various co-branding initiatives e.g. Debit Card.
The representatives of National Bank at this MOU Signing ceremony were Mr. Mudassir H. Khan – SEVP & Group Chief, Commercial & Retail Banking Group (C&RBG), Mr. S. H. Irtiza Kazmi – EVP & Coordinator – PMYBL, C&RBG, Ms. Nageen Rizvi – VP & Unit Head Marketing & Promotions PMYBL, C&RBG. From Ufone – PTML Mr. Mr. Jamal Eddine Trache (Chief Officer – Contracts & Procurement, Mr. Yousef Al Zaabi (Chief Officer HR, Admin & Security) and also acting CEO, Mr. Ahmad Kamal (Chief Officer – Customer Operations), Mr. Naveed Khalid Butt (Chief Officer – Government & Regulatory Affairs), Mr. Atif Ishaque (General Manager Customer Operations) and Mr. Taimur Faiz Cheema (General Manager Marketing) were present.
The Group Chief and SEVP National Bank of Pakistan, Mr. Mudassir Khan stated that
The majority of people in Pakistan are unbanked or have no access to organized banking sector. Various surveys show that in this specific sector the undocumented borrowing culture has imposed excessive requirements on collateral/ guarantees and prohibitively high lending rates, resulting in supply-side barriers that are likely to negatively affect the growth of SMEs.
Mr. Mudassir Khan stated
That backed by a strong banking expertise and an in-depth knowledge of the emerging socio-economic markets, and driven by a deep and compassionate understanding of the poverty factor, National Bank of Pakistan along with its various corporate alliances is fully prepared to offer viable answers to how poverty can be alleviated and optimistically reduced in the near future through the success of PMYBL scheme.
Ufone has a wide network of mobile users who can benefit from the PMYBL scheme if the awareness is created about the scheme and the application procedures are made easier. Banking will be made accessible to the 80% of the population through their mobile phones which will provide them with immediate access to financial solutions. The customers will be assisted by a 24 hour contact center help line for their queries or complaints. MFS Solutions are also being designed for Armed forces which will provide Immediate transfer of funds into their salary accounts. And assist them in advance salary loans & other loans etc. Ufone & NBP will also facilitate Pension Disbursement over mobile services to the retired sector in the convenience of their vicinities.
Mr. Irtiza Kazmi, the Executive Vice President and the Coordinator for PMYBL said
That the people who need to benefit from small loans live in remote and rural areas which are often difficult to access. Conventionally, banks have been reluctant in venturing into this area due to numerous challenges of operating in the unorganized sector. NBP’s existing presence in the agriculture and retail sectors can be leveraged to take advantage of this opportunity for emancipating the small businessmen, armed forces and retired employees.
He also added that various surveys show in the unorganized lending sector the borrowers are burdened with high lending rates and excessive requirements on collateral and guarantees exist, resulting in supply-side barriers that are likely to negatively affect the growth of SMEs and serve as the most serious barriers to accessing financial institutions.
Mr. Kazmi added
That backed by a strong banking expertise and an in-depth knowledge of the emerging socio-economic markets, and driven by a deep and compassionate understanding of the poverty factor, National Bank of Pakistan along with its various corporate alliances is fully prepared to offer viable answers to how poverty can be alleviated and optimistically reduced in the near future through the success of PMYBL scheme.
He said that the formation of alliance with Ufone would lead to the availability of funds to the borrowers of the scheme at the convenience of their neighborhood and SME financing will assist in secured provision of funds for their enhancing of existing or developing of new small businesses.
About: Pak Telecom Mobile Limited (PTML) is a wholly owned subsidiary of Pakistan Telecommunication Company Limited (PTCL). Since its inception, Ufone has focused on the people of Pakistan, empowering them with the most relevant communication modes and services that enable them to do a lot more. Ufone has network coverage in 10,000 locations and across all major highways of Pakistan. Ufone has also become a focused and intensive leader in VAS, constantly introducing innovative services, which have been the first of their kind in the Pakistani cellular industry.
Thanks to the leadership role played by State Bank of Pakistan by being a progressive and dynamic regulator, Pakistan is one of the fastest growing financial services markets all over the world. The challenge (as well as opportunity) is simple i.e. bridging the gap between tele-density and banking coverage. Banking coverage in Pakistan is approximately 28 million accounts as per State Bank statistics whereas tele-density has crossed 112 million. There are estimated 84 million cell phone subscribers who don’t have any bank account but can now enjoy luxury of having a truly real-time online mobile account or wallet on their cell phones. A wallet that could manage their savings, loans, purchases, funds transfers, utility bills, insurance and mobile top ups etc. on click of a button. Hence, sustaining branchless banking to all the unbanked people of Pakistan.
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