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Telenor Bank sponsors SAMN Regional Conference 2014 to be held on November 17-19 2014 in Islamabad
Karachi, November 12, 2014:
Telenor Bank is the Silver Sponsor for forthcoming SAMN Regional Conference 2014.
The Regional Conference 2014 is being organized by South Asian Micro-entrepreneurs Network (SAMN) and hosted by Pakistan Microfinance Network (PMN). The Prime Minister of Pakistan is expected to inaugurate the Conference.
Over 500 professionals and experts from SAARC countries including top level representatives from their respective central banks and ministries are expected to meet during the three days to highlight and address the challenges, innovations and opportunities that have been seen in South Asia’s financial inclusion space especially for the low income segment.
The conference will provide an opportunity to participate in intellectually stimulating panel discussions covering various themes like small growing businesses, innovation and technology in microfinance, responsible financing and an enabling environment for microfinance etc. The Conference is scheduled to be held at the Serena Hotel, Islamabad starting from Monday, November 17th till Wednesday, November 19th, 2014. For details http://samnconference.com
Easypaisa launches interbank funds transfer facility across Pakistan
Karachi, June 16, 2014:
Pakistan’s first and largest branchless banking service and a joint venture of Telenor Pakistan and Telenor Bank, Easypaisa, has become the first mobile money service in Pakistan to become interoperable with the existing banking infrastructure by launching the Inter Bank Fund Transfer (IBFT) service enabling its customers to transfer funds between a number of Banks via the 1-link switch.
Easypaisa brings this revolutionary, first of its kind innovative service to both its Mobile Account holders and Over-the-Counter (OTC) customers. Easypaisa Mobile Account holders can now move funds from any Bank Account into their Easypaisa Mobile Account and vice versa conveniently and securely, thus overcoming one of the hurdles of getting funds into the branchless banking systems. Once the funds are in the Easypaisa Mobile Account, customers can proceed to use the most convenient and secure bill payment, money transfer or airtime recharge service in the country through the Easypaisa Mobile Account on their mobile phone. For the OTC service, any customer can walk into any of the Easypaisa shops and deposit cash directly into any Bank Account. With 40,000 Easypaisa shops in more than 750 cities and nearly 6 million unique customers using Easypaisa services each month, banked customers can deposit cash into their Bank Accounts without having to go into their Bank Branches. Customers will only need to approach an Easypaisa shop, provide their CNIC and their bank account number to use this service. This Cash Deposit facility will be available at Easypaisa shops while they are open, often late into the night and even on weekends.
“It is great step in the Banking industry, a revolutionary development which will act as a catalyst for the robust growth of the branchless banking industry in Pakistan,” said Nadeem Hussain, President and CEO of Telenor Bank.
“Easypaisa now connects the unbanked directly to the banking infrastructure by enabling them to send and receive money on their Mobile Accounts and through OTC services. Almost 80% of the population in this country is still unbanked and Easypaisa is working day and night to achieve financial inclusion of the unbanked people of Pakistan. In line with this ambition, Easypaisa’s IBFT service provides a platform to the unbanked class to connect with the traditional banking infrastructure, which is likely to boost the mobile banking culture in the country.”
Expressing his view regarding this new service, Yahya Khan, Chief Financial Services Officer, at Telenor Pakistan said, “We am extremely proud of being the first branchless banking service in Pakistan to move towards Interoperability and connect to the 1-Link switch for fund transfers. All the current closed-loop mobile money services in Pakistan have to strive and move towards open-loop systems where customers can move funds between bank accounts and branchless banking accounts and vice versa. The opening up of Easypaisa agents for cash deposit into other banks is similarly a unique service we’re introducing to meet an unserved need out there.
We believe that Banks and Branchless Banking services complement each other in Pakistan and can work in harmony to serve everybody in Pakistan.”
Sindh Education and Literary Department and Easypaisa partner up to distribute Rs.1.2 billion of education stipends
Karachi, 16 June, 2014:
The Sindh Ministry of Education and Literacy Department and Easypaisa have signed a contract to electronically disburse Rs.1.2 billion to girl students as a stipend through the Easypaisa ATM cards. The contract was signed by Senior Minister for Education and Literacy Department, Mr. Nisar Ahmed Khoro and Mr. Nadeem Hussain, CEO and President Telenor Bank at a local hotel.
Sharing his thoughts on the occasion Mr. Khoro said that the disbursement of stipends through Easypaisa will not only make the process transparent and faster but will also encourage under-privileged parents to enroll their daughters in schools.
The Government of Sindh has allocated Rs.1.2 billion that will be disbursed through Easypaisa ATM cards to 450,000 female students belonging to of class six to class ten for their financial assistance. Students from over 45 less developed Tehsils/Taulkas will be receiving a stipend of Rs.3500 each per year for education whereas the stipend for urban students is fixed at Rs.2500 each per year.
Mr. Khoro said that one of the UN Millennium Development Goals (MDGs) is to provide education for all. He acknowledged the fact that the Government of Sindh is trying its best to achieve the goal by collaborating with private institutes and organizations. Mr. Khoro said “Telenor Bank and Telenor Pakistan have been a part of various initiatives by different Governments to promote education.”
Speaking at the occasion, Nadeem Hussain, CEO Telenor Bank said, “Easypaisa has always been at the forefront in introducing innovative ways to help society move forward. We are delighted to have joined hands with the Education and Literacy Department of the Government of Sindh, to ensure free of cost and transparent awarding of stipends to young girls, which will motivate them to acquire education. This approach is yet another step in empowering the youth of our society.”
It may be noted that earlier the stipend money was being transferred through Pakistan Post Office where the masses had numerous complaints about the transparency of the process.
Telenor Bank starts financial inclusion in Gawadar, Baluchistan
Karachi, 29 May 2014:
Pakistan’s first scheduled and largest private sector microfinance bank, Telenor Bank, formally inaugurated its new branch in Gawadar, Baluchistan today. Telenor Bank now has a footprint of over 135 locations across the country.
Mr Nadeem Hussain, CEO of Telenor Bank, inaugurated the branch along with senior members of the bank and representatives of Winrock International. Speaking on the occasion, he said: “Today is a historic day for Telenor, as we open our 2nd branch in Baluchistan. Providing access to financial services is fundamental in developing an eco-system to support the unprivileged. I am confident that Telenor’s presence in Gawadar will positively impact the remote coastal belt, especially by linking fishing communities of Karachi and Gawadar with the rest of Pakistan.”
This initiative is aimed at promoting financial and economic activities in Baluchistan through introduction of new means of business to the farmers, fishermen and other business folk of Baluchistan. Setting up of this branch was made possible by financial, logistic and administrative support by United States Department of Agriculture (USDA) through Pakistan Agriculture and Cold Chain Development Project (PACCD).
Telenor Bank starts financial inclusion in Mithi, Tharparkar
Karachi, 7 April 2014:
Pakistan’s first scheduled and largest private sector microfinance bank, Telenor, formally inaugurated its new branch in Mithi, District Tharparkar, Sindh, last week. This is Telenor’s 27th branch in Sindh and 51st branch in Pakistan.
Commenting on the occasion, Mr. Nadeem Hussain, President and CEO of Telenor Bank said: “I am delighted to see Telenor Bank in Mithi as part of our plan of extending outreach to the interior and remote areas. Providing access to financial services is fundamental in developing an eco-system which supports development of people who are at the bottom of the pyramid. I am confident that Telenor’s presence in Mithi will have a similar positive impact in this area.”
Mithi branch is part of Telenor’s financial inclusion plan of empowering the unbanked across the country and will offer the entire range of Telenor Bank’s products.
TPL Direct Insurance and Telenor Bank sign Memorandum of Understanding for the Launch of Micro Health Insurance "Telenor Bank Sehat-O-Sakoon"
Karachi, December 31st, 2013:
TPL Direct Insurance Limited, Pakistan’s only direct insurance company, has partnered with Telenor Bank and has signed an agreement to launch micro-health insurance covers to targeted customers residing in small cities and villages with no access to financial institutions.
‘Telenor Bank Sehat-O-Sukoon’, is a health micro-insurance product that will be offered to low-income individuals to provide them with quality health care when they need it most. It is an in-patient product, which offers cashless access to health services with coverage worth Rs. 40,000 against an annual premium of Rs. 700. It will be rolled out stage-wise across all Telenor Bank Touch Points throughout Pakistan and will be available for Telenor Bank customers as well as non-Telenor Bank customers.
The aim of this initiative is to provide access to formal insurance that protects against health risks such as severe or chronic illnesses, accidents, and obstructed births. These shocks are particularly damaging for poor households who are more vulnerable and less able to absorb the financial consequences of such events.
Speaking on the occasion, Mr. Tariq Mohar, Deputy CEO, Telenor Bank said, “Telenor Bank Sehat-O-Sukoon is part of Telenor Bank’s strategy in line with our vision to emerge as a global benchmark for innovative and commercially viable microfinance solutions for the unbanked and offer them a means to socio-economic empowerment. Our health insurance product is an effort to bridge the gap between the haves and the have-nots and to promote greater inclusion within society and provide them with a safety net against financial shocks.”
Mr. Saad Nisar, CEO TPL Direct Insurance stated “We are very pleased to be associated with the ‘Telenor Bank Sehat-O-Sukoon’ initiative. Health insurance is a complex system in developing countries. Resource & distribution constraints pose a collective challenge. TPL Direct insurance has looked at various limitations and is determined to overcome these constraints through micro-health insurance. New evidence shows that micro-health insurance can reduce expenditure on health care for clients and encourage them to seek care earlier. We hope to bring about convenience and numerous benefits for the people.”
Telenor Bank Conducts first transaction at PMEX at the launch of “Milli Tola Gold”
Karachi, December 16th, 2013:
Pakistan Mercantile Exchange Limited (PMEX), the only commodity futures exchange of Pakistan, launched Milli Tola Gold on December 16, 2013. Milli Tola Gold has been exclusively designed for all types of investors who are seeking a convenient way to buy, sell and accumulate gold with ease and peace of mind. The product allows investors to purchase gold in small amounts, starting from Rs. 50. The gold is stored in PMEX’s vaults and is electronically tradable. In addition, the Milli Tola Gold provides the option of taking physical delivery of gold.
Telenor Bank Limited (TMFB) has partnered with PMEX to introduce Milli Tola Gold contracts via their Sarmaya centers to make them available for the masses for which the first transaction was conducted by Mr. Nadeem Hussain (Founder, President and CEO) of Telenor Bank at PMEX premises.
PMEX and TMFB had signed a Memorandum of Understanding in March 2013 to offer a gold based product which would give opportunity to all income strata to invest in gold with trust, security and convenience. The product is now available in small lot sizes, which will make it conducive for people to invest in gold with cash flow ease and convenience and save it securely in PMEX’s custody.
Commenting on the occasion, Mr. Ejaz Ali Shah, Managing Director PMEX, said, “We are pleased to add another flagship product in our portfolio, which is aimed at every Pakistani investor. On one hand, it enables every Pakistani to invest in gold to build savings with convenience, security and ease of liquidity. On the other hand, it offers a huge opportunity to PMEX brokers to expand their business by offering services to a much wider market segment. This can be accomplished by cultivating partners having access to the customers like credit cards and telecom companies in order to take this product to every house in Pakistan. PMEX will remain committed towards creating value for all stakeholders in future as well.”
Speaking on the occasion, Mr Nadeem Hussain, Founder, President and CEO, Telenor Bank said, “We are extremely pleased at this ground breaking achievement, the first of its kind in the Pakistani market, which will help create financial inclusion through small savings and investments in gold. We see such initiatives as catalysts to help achieve our vision of creating socio-economic empowerment.”
PACRA Maintains Ratings of Telenor Bank Limited
LAHORE, March 22, 2013:
The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of Telenor Bank Limited (TMBL) at “A” (Single A) and “A1” (A One), respectively. These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of financial commitments.
6th Microfinance Country Forum held
KARACHI, December 06, 2012:
Nadeem Hussain President and CEO of Telenor Bank has said that small scale diligent entrepreneurs have proven to be prudent, as they ensure the lowest default ratios Addressing the 6th Microfinance Country Forum on Wednesday, he said that there is a misconception in the financial markets, that a low income population is not credit-worthy.
Initiative helps flood-hit women fight poverty
MUZAFFARGARH, August 5th, 2012:
This project has brought economic empowerment for us,” she said. Under the project, she said, funds were being provided by the Telenor Bank and logistic support by Awaz Foundation.
Easypaisa and PIA join hands to provide ticket payment facility
KARACHI, July 03, 2012:
PIA passengers will now be able to pay for their air tickets at any Easypaisa shop, Telenor Pakistan Sales & Service Center, Telenor Bank branch or from their own mobile phones via an Easypaisa Mobile Account.
JCR-VIS reaffirms Entity Ratings of Telenor Bank at A/A-1
Karachi, April 26, 2012:
JCR-VIS Credit Rating Company Limited has reaffirmed the entity ratings of Telenor Bank (Telenor) at ‘A/A-1’ (Single A/A-One) with a ‘Stable’ Outlook
Telenor Bank CEO wins microfinance ‘Leader of the Year’ award
ISLAMABAD, July 14, 2011:
Nadeem Hussain, President & CEO Telenor Bank has been selected ‘Leader of the Year’ by an international panel of microfinance thought leaders at the Sixth Annual Global Microfinance Achievement Awards 2011
Easypaisa Mobile Accounts to help empower people
KARACHI, July 4, 2011:
Telenor Pakistan and Telenor Bank Limited launched a branding campaign for one of their products under the branchless banking solution, Easypaisa. Through Easypaisa Mobile Account customers can send & receive money and pay their utility bills right from their mobile phone, anywhere, anytime.
UK's Secretary of State for International Development and Deputy Governor State Bank visit easypaisa outlet
KARACHI, June 1, 2011:
Visiting Secretary of State for International Development for United Kingdom, Andrew Mitchell along with Deputy Governor State Bank Yaseen Anwar visited Telenor Bank Limited and Telenor Pakistan’s easypaisa outlet in Karachi today. They were accompanied by Nadeem Hussain, CEO Telenor Bank. The visitors witnessed transactions being carried out at the outlet and discussed advantages of mobile financial services for financial inclusion in Pakistan.
Mobile financial services can help create new jobs, raise Pakistan's GDP
ISLAMABAD, May 31, 2011:
According to a recent study conducted by Telenor Group and Boston Consulting Group, wider access to mobile financial services in Pakistan could lead to the creation of 1 million new jobs by 2020. An estimated US$2 billion could be added annually to government revenues, helping raise Pakistan’s GDP growth by 3%.
Telenor Bank to provide cash management, service delivery facilities to Asasah
KARACHI, May 11, 2011:
Telenor Bank Limited (TMBL) will offer NGO and microfinance institution Asasah cash management and service delivery facilities for loan disbursements and repayments. Asasah clients will be able to receive disbursed loans at any of Telenor’s network of 100 branch banking outlets, as well as at any 1Link ATM in the country, and repay the loans via easypaisa’s branchless banking solution.
Telenor Banks Rating Upgraded by JCR-VIS
Karachi, April 29, 2011:
JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the entity ratings assigned to Telenor Bank Limited (Telenor) from ‘A-/A-2’ (Single A Minus/A Two) to ‘A/A-1’ (Single A/A One). Outlook on the assigned ratings is ‘Stable.
Norwegian Environment and International Development Minister visits easypaisa outlet
Islamabad, November 22, 2010:
The Norwegian Minister for Environment and International Development Erik Solheim visited a Telenor Pakistan easypaisa retail outlet at a local market today. He was accompanied by Norwegian Ambassador to Pakistan Robert Kvile and Chief Strategy Officer & VP Corporate Affairs Telenor Pakistan Aamir Ibrahim. The minister is in Pakistan to see ongoing flood relief and rehabilitation activities. Norway has contributed 400 million Norwegian Kroners (USD67 million) for Pakistan’s flood affected.
Easypaisa wins Best MMT Entrant of the Year Award
ISLAMABAD, November 2, 2010:
Easypaisa has won the award for Best Mobile Money Transfer Entrant of the Year at the world’s first Mobile Money Transfer (MMT) Awards held in Dubai last week, making it the year’s best service of its kind in the world.
Easypaisa Introduces Mobile Accounts
Islamabad. 24th Feb 2010:
Telenor Bank and Telenor Pakistan announced a first of its kind product in Pakistan, offering transactions through the customer’s own mobile phone. ‘Mobile Account’ is the third in the suite of services being offered under the banner of easypaisa. Mobile Accounts will provide utility bill payment, money transfer and cash in / cash out services through customer’s Telenor connection. Customers will be able to carry out deposits and withdrawals from any of the 5500+ easypaisa Retail Merchants, 23 Sales and Service Centers, 50 Telenor Bank Branches and 225 Telenor Franchises from all over the country.
