Pakistani Micro-Finance Bank Gains ATM Access
Tameer Micro Finance Bank (TMFB) has signed an agreement with OneLink that will make it possible for TMFB customers to use 2,000 OneLink ATMs in 150 Pakistani cities.
TMFB is a Pakistani commercial microfinance bank. According to microfinance Website Microcapital.org, it has around 27,000 active borrowers and total disbursed loans of 1.1 billion Pakistani Rupees (US$18.4 million). Nadeem Hussain, TMFBÆs president and chief executive, says that currently the number of bank accounts in Pakistan is around 23 million. He argues that a large number of unbanked people could be brought into the Pakistani banking system by providing online and branchless banking facilities in the country. According to Mr Hussain, half of TMFBÆs customer transactions take place via ATMs. By contrast, the percentage of large-scale commercial Pakistani banksÆ customer transactions taking place via ATMs is not more than 15 to 20 percent, he says. TMFB is the first microfinance bank to join OneLinkÆs network, according to OneLink chief executive Khayyam Mahmood Butt. OneLink offers cash withdrawals, utility bill payments and electronic interbank fund transfers at its ATMs. It was founded in 2004 by 11 Pakistani banks, with 28 banks currently using its network. Related Resources
