Waseela Microfinance Bank a fully-owned subsidiary of Orascom Telecom Holdings, and a sister concern of Pakistan Mobile Communications Limited (PMCL) and Adamjee Life Assurance Co Ltd, a member of Nishat Group, one of the leading and most diversified business group in South East Asia with fixed/ current assets of over Rs 300 billion (US $5 billion), signed a partnership agreement on June 18, 2012 in a ceremony at a local hotel.
The ceremony was attended by the top managements of Waseela Bank and Adamjee Life. Waseela MF Bank through an alliance with its sister entity Mobilink intends to become a major player in the branchless banking arena and has plans to introduce mass market savings, loans, funds transfer, insurance and investment products to promote financial inclusion, promote economic and trade empowerment in both rural and urban communities. Ghazanfar Azzam, President and CEO of the Waseela Microfinance Bank Limited said, "Waseela Microfinance Bank and its management will continue to research, innovate and offer customer-focused solutions that are easily accessible to the general public.-PR
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