The Telenor Microfinance Bank has launched 'Easypaisa Loan', the country's first ever Digital Nano Loan, in continuation of its effort to increase financial inclusion, as part of the Government of Pakistan's National Financial Inclusion Strategy of 2015 and the Strategic Goals of SBP's vision 2020.
The loan is processed and transferred to the customer's Easypaisa account (mWallet) within 2 minutes conveniently without the need to visit a branch or fill out paperwork, said a press release issued here on Tuesday.
This innovative service is aimed at the common man who has no access to formal loans or banking services. It enables easy access to working capital requirements for farmers, self-employed individuals, street hawkers, and home-based workers. It also works as an effective tool in creating financial literacy by incentivizing positive credit behavior through access to better borrowing terms. "We continue to take the lead in innovating financial solutions and our aspiration is to enable a better lifestyle for the people of Pakistan.
With the Easypaisa Loan, we have established instant digital lending in Pakistan to meet the demand for easily accessible Nano loans." said Shahid Mustafa, President & CEO, Telenor Microfinance Bank. -PR
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