Khushhalibank Limited, the first licensed microfinance bank in Pakistan expanded its network by opening six new branches in the Punjab region during the month of February. These branches were opened in Minchanabad, Chiniot, Muzaffargarh, Fort Abbas, Alipur and Sadiqabad.
Speaking on the occasion, Ghalib Nishtar, President Khushhalibank, said "The idea of microfinance is fast catching up across low income market segments. Motivated by success stories in their close neighbourhoods more and more people are attracted towards improving livelihood opportunities through access to microfinance institutions."
In the last 10 years a large number of people have benefited from microfinance and it is estimated that nearly 2.5 million active borrowers are currently taking advantage of the microfinance services, and the number is fast growing. In addition to this the microfinance Institutions are providing a range of services that include savings, remittances, payments etc through convenient and alternate delivery channels.
Khushhalibank remains the largest microfinance institution which is committed to serving the low income population in the country. The Bank intends to further increase and deepen its presence and outreach by opening more branches, so that more people benefit by such services. Access by the poor to financial services is an integral part of the national developmental agenda.
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