Abdul Aziz, President & CEO Ufone, on Thursday said that Ufone alliance with Meezan Bank for the launch of Islamic Branchless Banking will bring innovative products for the customers. Addressing the launching ceremony of the Islamic Branchless Banking "Meezan-UPaisa" at a local hotel, he said that with this new collaboration they aimed to capitalise on both parties' strengths-Meezan Bank's expertise in Islamic Banking and UPaisa's geographic foot print to facilitate customers, making it a win-win situation for all.
He said that with UPaisa being at the forefront in providing branchless banking services with its collaborations at various levels and Meezan Bank holding over 50 percent of the Islamic banking share in Pakistan, this partnership wass poised to go a long way in opening new opportunities.
Irfan Siddiqui, President and CEO Meezan Bank, while underlining the need for better financial solutions for the unbanked population of the country said that Meezan Bank had played a vital role in expanding access to Islamic financial services in Pakistan. "This initiative is poised to accelerate financial inclusion by adding convenience and greater reliability, deepening the role of Ufone through enhancing the value it provides to its customers and that of Meezan Bank in expanding the reach of Islamic financial services to every citizen of the country," he added "We believe that we are now one step closer to our Vision of establishing 'Islamic banking as banking of first choice' by serving more than 60 million users - thus taking Islamic banking in the country to the next level," he said.
Siddique said his partnership would expand the Islamic system footprint to its maximum potential and facilitate customers to avail branchless banking services with utmost ease and convenience under Islamic system. This would be the first milestone in the ambit of Islamic Branchless Banking, in banking industry, he added.