Khushhalibank celebrates 18 years of microfinance excellence
Pakistan’s largest microfinance bank, Khushhali Microfinance Bank Limited (KMBL), celebrated its 18th anniversary on August 11, 2018, according to a press release. Inaugurated in 2000, Khushhali Microfinance Bank operates through a network of 158 branches and 28 service centers across Pakistan. Having serviced over 6 million loans to date, Khushhalibank takes pride in its legacy of providing access to finance to the marginalized segment of the population, males and females alike, to invest in microenterprises for a better future and realize their economic potential.
To continue improving lives and contributing towards financial Inclusion in Pakistan, Khushhalibank is now Investing in digitizing its financial services to further expand the scope of its services. For 18 years, KMBL has enabled easy access to working capital requirements for farmers, self-employed individuals, and home-based workers. The bank also provides free-of-cost effective training in creating financial literacy by incentivizing positive credit behavior through access to better borrowing terms.
Talking on the occasion, Ghalib Nishtar, President, Khushhali Microfinance Bank, said: “Our vision is to be a premiere Microfinance Institution in Pakistan. We are committed to provide a full array of superior products and services through our expert bankers and set a precedent of providing microfinance banking, being the first licensed bank in Pakistan.”
“We’ve also outlined the three “Ps” of digital success – product, people, and process. As the banking sector becomes increasingly competitive, with tech giants and fintech innovators challenging the established institutions, maximizing efficiency is becoming even more important,” he added.
To mark its 18th anniversary, Khushhalibank carried out a ‘Plant Khushhali’ campaign across all its branches nationwide. Every employee participated by planting a tree sapling. More than 4,500 saplings were planted by the KMBL family to commemorate the anniversary. The campaign also symbolizes the bank’s holistic commitment towards the country’s development that goes beyond the provision of its banking services.
As of June 30, 2018, Khushhalibank has nearly 2.0 million active depositors, and more than 700,000 active borrowers, making it the largest microfinance bank in Pakistan.