The senior administration of Telenor, comprising Telenor Group CEO Sigve Brekke, Telenor Microfinance Financial institution President & CEO Shahid Mustafa, and Telenor Pakistan CEO Irfan Wahab Khan, met with Alibaba CEO Jack Ma and Ant Monetary CEO Eric Jing, moreover different senior officers from Alibaba Group and Ant Monetary in China’s metropolis Hangzhou, final week.
Telenor Group & Telenor Financial institution met with CEO Alibaba
The assembly underscored the importance of a cashless society, particularly within the context of a creating nation like Pakistan. The officers exchanged ideas and concepts about digitization of the world’s monetary panorama and seemed into extra methods the large strategic partnership between Telenor Group and Ant Monetary earlier this 12 months might show extra fruitful.
Telenor officers additionally exchanged ideas on how digitization will improve accessibility to formal monetary providers in Pakistan.
Shahid Mustafa, CEO Telenor Microfinance Financial institution, stated:
“We pioneered branchless banking in Pakistan with Easypaisa to bridge the widening monetary providers divide within the nation,”
“In the present day, we’re much more dedicated to remodeling the Pakistani monetary panorama utilizing revolutionary know-how and breakthrough partnerships just like the one with Ant Monetary,”
In March this 12 months, Telenor Group entered into an settlement with Ant Monetary, previously often called Alipay, the place Ant Monetary introduced an funding of US $184.5m for a 45% stake in Telenor Microfinance Financial institution (TMB), a subsidiary of Telenor Group, to additional develop cell cost and digital monetary providers in Pakistan. Ant Monetary is devoted to bringing the world extra equal alternatives via constructing a technology-driven open ecosystem and dealing with different monetary establishments to assist the longer term monetary wants of society.
About Telenor Microfinance Financial institution Restricted
Telenor Microfinance Financial institution Restricted is Pakistan’s main microfinance financial institution. In 2009, we launched Pakistan’s first cell banking platform ‘Easypaisa’ which now has one of many largest nationwide footprints and can be the primary and solely GSMA Cell Cash Licensed service within the nation.
We offer microfinance and cell monetary providers to the underprivileged and underbanked section of society, with an goal to contribute in direction of empowering societies. Telenor Microfinance Financial institution was awarded the ‘Finest Microfinance Financial institution’ and ‘Financial institution the Unbanked’ award on the Pakistan Banking Awards in 2016 and 2017.
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