Waseela Microfinance Bank

Mobilink Bank, a Global Telecom - VEON Co., started operations in April 2012 and launched branch-less banking operations under the brand name JAZZCASH in partnership with Pakistan's largest telecom operator JAZZ in Nov 2012. Being a hybrid model that combines traditional micro finance with mobile / digital banking technologies, the bank now operates with 61 branches, 1,000 employees, a network of over 78,000 branch-less banking agents (growing) and a USSD (GSM) based digital channel in the country offering savings, micro enterprise (MSME) loans, small housing loans, remittances, collection (of utility bills and loan installments), mobile wallets, insurance, G2P, B2B & B2P payments and thus playing a leading role in promotion of financial inclusion. Despite being a young bank, Mobilink bank has emerged as one of the front runners in the sector and achieved financial break-even within four years of commencing operations, one of the fastest in the industry. Mobile wallet customer base now exceeds 16 million, largest in the country.Mobilink MF Bank & JAZZ, under the brand name JAZZCASH, envision to become market leaders in branchless banking, mobile banking and micro financial services offering simple, innovative and value added products and services to the people of Pakistan. MMBL game plan aims at taking banking from confines of limited number of brick and mortar structures to eventually customers cell phones thus make a significant contribution in banking the unbanked through digital chanels. We currently make over 40 millions transactions (primarily domestic & home remittances & utility bills collection) per month through our branch banking channel and have financed over 500,000 individual micro and small businesses since inception of the Bank in 2012.