Business Desk 
Nov 19, 2024
The Telenor Microfinance Bank (TMB) has secured $10 million in investment funding from its shareholders including Telenor Group and Ant Group to launch its digital retail banking operations in Pakistan.
Operating Pakistan’s leading digital financial services platform Easypaisa, the microfinance banking giant's impending digital banking services are awaiting regulatory approvals.
Digital banking services from Telenor Microfinance Bank
The grant of such a massive investment is an indication of a significant digital transformation Easypaisa is actively involved in and of staunch investor confidence in the role TMB is playing in equipping Pakistan with financial inclusion.
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Irfan Wahab Khan, the chairman of the board of directors of TMB, said: “Our commitment to advancing a digital Pakistan is stronger than ever. With solid financial results that underscore sustainable growth, Easypaisa is evolving into an innovative platform at the forefront of digital finance, ready to reshape banking in Pakistan once again."
The company takes pride in augmenting a transformation in the realm of Pakistan’s financial services, a much-needed element to serve unbanked and underserved communities, Khan added.
“The recent equity investment underscores our long-term commitment to Pakistan’s financial ecosystem. We are excited to support Easypaisa and the journey to empower millions of Pakistanis through digital financial inclusion and innovative banking solutions,” said Douglas Feagin, President of Ant International, while reflecting on the remarkable feat.
Having played a key role in bringing about this investment, Feagin travelled to Pakistan and conducted various meetings with local partners and government officials to assure Ant International’s backing for Easypaisa to drive digitalised inclusive financial services in Pakistan.
