Network Microfinance Bank Limited (NMBL) launched its mobile branch operations on Friday, December 9, 2005, with the inauguration of its first mobile branch by Jehangir Siddiqui.
NMBL, which commenced operations from January 01, 2005 through its main branch on I.I. Chundrigar Road, aims to provide its clients banking services at their doorstep with its mobile branch operations.
The bank's two main areas of focus are savings mobilisation and empowerment of micro entrepreneurs (including women), through individual and group based financing to support income generation and to improve economic conditions. Based on lessons learned from successful urban initiatives in Pakistan by the sponsors who experimented and developed an alternative approach to solve micro-enterprises problems, predominantly in low income areas for accessing micro-finance, the bank will be applying a model which supports and promotes affordable, self help based incremental development initiatives.
NMBL operates as a microfinance institution under the Microfinance Institutions Ordinance 2001, and licence of the State Bank of Pakistan.
It is sponsored by Network Leasing Corporation Limited and Jehangir Siddiqui & Company Limited.-PR