U Microfinance Bank partners with Allied Bank Limited & ABL AMC

BusinessU Microfinance Bank partners with Allied Bank Limited & ABL AMC

KARACHI, Pakistan: The U Microfinance Bank Limited (U Bank) has entered into a strategic partnership with Allied Bank Limited (ABL) and ABL Asset Management Company Limited to promote financial inclusion in the Country.

In this regard, Memorandum of Understandings (MOUs) were signed by the President & Chief Executive Officer (CEO) U Bank Mr. Kabeer Naqvi, the President & CEO ABL Mr. Aizid Razzaq Gill, and the CEO ABL AMC Mr. Alee Khalid Ghaznavi.

This collaboration between the institutions will open avenues to support the financial and social inclusion of the unbanked population. The areas of interest between U Bank, ABL & ABL AMC include medium to long-term Debt Finance, Structured Finance, Housing Finance, Islamic Finance, Mutual Funds, and various other funding options.

Speaking at the occasion, the President & CEO of U Bank Mr. Kabeer Naqvi said that this strategic partnership with the ABL group will strengthen our ability to provide a broad range of banking services to the underserved segment of the society.

Furthermore, this will allow us to create efficient synergies with both entities to design and introduce innovative financing solutions.

The President & CEO of ABL Mr. Aizid Razzaq Gill appreciated U Bank’s relationship with ABL and expressed the desire to further strengthen their engagement going forward.

Mr. Aizid Razzaq Gill also discussed the need of developing industry vide lending controls to minimize non-performing loans, and investing on human resources to deliver quality services and financial solutions to the masses.

The CEO ABL Asset Management Mr. Alee Khalid Ghaznavi said at the occasion that we are excited for this strategic alliance with U Bank which brings us closer to our vision of providing innovative solutions to help investors reach their investment goals and create a lasting impact at large.

The ceremony was held at ABL’s Head Office and was witnessed by the senior management of both institutions including Mr. Mujahid Ali, Group Chief – Information Technology Group, Mr. Sohail Aziz, Group Chief – Digital Banking Group, Mr. Moin Khalid, Group Chief – Risk Management Group from ABL; Mr. Syed Khalid Husain – Country Head Business Development, Mr. Saqib Mateen – CFO and Mr. Muhammad Asif – Head HR from ABL AMC and Ms. Mariam Pervaiz – Chief Commercial Officer & Chief of Staff, Mr. Muhammad Farooq Kamran – Head of Corporate Banking & Investments, Mr. Mohsin Aslam – Head Budgeting Planning & Corporate Finance and Ms. Madiha Latif – Assistant Manager Corporate Finance of U Bank.

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