Union Microfinance opens its first branch in Karachi

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KARACHI: Union Microfinance, a new entrant in the microfinance Industry, launched its first branch on 24th February in Karachi. The Branch was inaugurated by Yasir Ashfaq, CEO of Pakistan Microfinance Investment Company, says a Press release.
On this occasion Yasir Ashfaq stated that Pakistan has one of the lowest numbers of financial Inclusion, although both the regulators i.e., SBP & SECP are making a lot of efforts to improve this situation. He appreciated the sponsors of Union Microfinance in taking a big step of adding a new microfinance institution whose focus is using digital means to provide efficient financial service and women as their target market.
He further said that PMIC would encourage and assist new microfinance Institutions that have strong governance systems in place to provide financial services to unbanked segments of society.
Mumtaz Hadi, CEO of Union Microfinance, said that we are in the era of digitalization which needs to replace and speed up the long-drawn process of loan disbursements. He slated that Union Microfinance will also offer Female-centric products because females lag far behind in the accessibility of financial services in our country.
At the opening of first branch of Union Microfinance in Karachi was attended by Dr. Farooq Sattar, Chairman MQM Rehabilitation Committee, Director Zuhair Pasani, Director Saeed Raza, Director Ali Remo, Chairman AZB Global Trade & Exhibitions Syed Turab Shah, Adeel Rasheedi, Engr. Syed Farooq Shah and others.