Mr. Kabeer Naqvi, President & CEO of U Microfinance Bank Limited (U Bank), Mr. Aizid Razzaq Gill, President & CEO of Allied Bank Limited (ABL), and Mr. Alee Khalid Ghaznavi, CEO of ABL Asset Management Company Limited (ABL AMC), signed Memorandums of Understandings (MOUs) to form a strategic partnership to promote financial inclusion in the country.
This collaboration between the organizations would pave the way for the unbanked people to gain access to financial and social services. Medium to long-term Debt Finance, Structured Finance, Housing Finance, Islamic Finance, Mutual Funds, and a variety of additional funding solutions are among the areas of focus for U Bank, ABL, and ABL AMC.
Mr. Kabeer Naqvi, President & CEO of U Bank, noted at the event that this strategic cooperation with ABL will increase our ability to provide a comprehensive range of banking services to the underserved portion of society. Furthermore, we will be able to build effective synergies with both businesses in order to design and implement novel financing solutions.
Mr. Aizid Razzaq Gill, President & CEO of ABL, expressed appreciation for U Bank’s cooperation with ABL and stated a wish to strengthen their partnership in the future. He also spoke on the importance of implementing industry-wide lending rules to reduce non-performing loans and investing in human resources in order to provide excellent services and financial solutions to the general public.
On the occasion, Mr. Alee Khalid Ghaznavi, Chief Executive Officer of ABL Asset Management, stated, “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.”
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 & Managing Director.