HBL Pakistan signed agreement with M&P Pakistan for branchless banking

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hbl Limited (M&P) for branchless banking. Muller & Phipps Pakistan is a multinational distribution company with a total 78,000 retail outlets.

Mr. Nauman Dar, CEO and President HBL and Mr. Kamran Nishat, Managing Director & CEO M&P were present at the occasion. Others include Mr. Faiq Sadiq, Head HBL Payment Services, Mr. Azfar Jamal, Head HBL Branchless Banking and Munaf Lakda, CFO M&P.

Mr. Kamran Nishat while speaking on the occasion said he has full confidence in this new strategic agreement. He also highlighted M&P’s ability to t un-banked care of un-banked Pakistanis who are living in the extreme remote areas.

He further said that In Pakistan, Branch-less Banking market has shown a positive growth but this success should not hurdle HBL from losing the sight of broader vision. M&P firmly believes that the branch-less banking success in only possible if the agent base is further expanded in terms of outreach and profile. This growth and success has many issues that needs to be monitored by independent agent and a national network management services provider like M&P.

Mr. Faiq Sadiq said, under the current agreement HBL will achieve its goal of bringing Pakistan’s masses in financial echo system with a reliable and cheap financial services.

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