The National Bank of Pakistan (NBP) and Pak Telecom Mobile Ltd (Ufone) on Tuesday signed a Memorandum of Understanding (MoU) for provision of services pertaining to Customized ICT Solutions. According to the agreement the Ufone will provide extension of SMS notification portal for the NBP with customisation for different pull and push notification.
The Ufone will handle the SMS and mobile application for banking related initiatives. It will also assist the NBP for contact center services, which includes provision of a CMS (Complaint Management System) and Call Center related services. The Ufone will collaborate on MFS Solutions with the NBP for providing the solution of salary accounts and transfers, bill payments, advance salary loans, loans repayments and renewals. The Ufone will also assist the NBP in pension disbursement and brand promotion through various co-branding initiatives eg Debit Card.
NBP representatives Mudassir H Khan, SEVP & Group Chief Commercial & Retail Banking Group (C&RBG), S H Irtiza Kazmi, EVP & Co-ordinator PMYBL, C&RBG, and Nageen Rizvi, VP & Unit Head Marketing & Promotions PMYBL, C&RBG witnessed the event. From the Ufone side PTML Jamal Eddine Trache (Chief Officer - Contracts & Procurement, Yousef Al Zaabi (Chief Officer HR, Admin & Security), and also acting CEO Ahmad Kamal (Chief Officer - Customer Operations), Naveed Khalid Butt (Chief Officer - Government & Regulatory Affairs), Atif Ishaque (General Manager Customer Operations) and Taimur Faiz Cheema (General Manager Marketing) were present.
Mudassir Khan said that majority of the people in Pakistan have no access to organized banking sector. Various surveys show that in this specific sector the undocumented borrowing culture has imposed excessive requirements on collateral/guarantees and prohibitively high lending rates, resulting in supply-side barriers that are likely to negatively impact growth of SMEs.
The Ufone has a wide network of mobile users who can benefit from the Prime Minister Youth Business Loan (PMYBL) scheme if awareness is created about the scheme and the application procedures are made easier. Banking will be made accessible to the 80 percent of the population through their mobile phones which will provide them immediate access to financial solutions. The customers will be assisted by a 24-hour contact center helpline for their queries or complaints. MFS solutions are also being designed for armed forces which will provide immediate transfer of funds into their salary accounts. And assist them in advance salary loans & other loans etc. The NBP and the Ufone will also facilitate pension disbursement over mobile services to the pensioners.
Irtiza Kazmi said the people who need to benefit from small loans live in remote and rural areas which are often difficult to access. Conventionally, banks have been reluctant in venturing into this area due to numerous challenges of operating in the unorganised sector. The NBP's presence in the agriculture and retail sectors can be leveraged to take advantage of this opportunity for emancipating small businessmen, armed forces and retired employees.
Kazmi added that backed by a strong banking expertise and an in-depth knowledge of the emerging socio-economic markets driven by a deep and compassionate understanding of the poverty factor, the NBP along with various corporate alliances is fully prepared to offer viable answers that how poverty can be alleviated and optimistically reduced in the near future through the success of the PMYBL scheme.