U Microfinance Bank Partners with Allied Bank Limited and ABL Asset Management Company

President & CEO U Microfinance Bank Limited (U Bank) Kabeer Naqvi, President & CEO Allied Bank Limited (ABL) Aizid Razzaq Gill, and CEO ABL Asset Management Company Limited (ABL AMC) Alee Khalid Ghaznavi, signed Memorandums of Understanding (MOUs) of a strategic partnership to promote financial inclusion in the country.

This collaboration between the institutions will open avenues to support 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, Kabeer Naqvi, President & CEO of U Bank, stated that this strategic partnership with the ABL group would strengthen the Bank’s ability to provide a broad range of banking services to the underserved segment of the society.

“This will also allow us to create efficient synergies with both entities to design and introduce innovative financing solutions,” he added.

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

He also discussed the need of developing industry-wide lending controls to minimize non-performing loans and investing in human resources to deliver quality services and financial solutions to the masses.

Alee Khalid Ghaznavi, Chief Executive Officer ABL Asset Management, said, “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 Mujahid Ali, Group Chief of the Information Technology Group, Sohail Aziz Group, Chief of the Digital Banking Group, and Moin Khalid,  Group Chief of the Risk Management Group from ABL.

It also included Syed Khalid Husain, Country Head of Business Development, Saqib Mateen, CFO, Muhammad Asif, Head of HR from ABL AMC, and Mariam Pervaiz, Chief Commercial Officer & Chief of Staff.

Also present were Muhammad Farooq Kamran, Head of Corporate Banking & Investments, Mohsin Aslam, Head of Budgeting Planning & Corporate Finance, and Madiha Latif, Assistant Manager of Corporate Finance of U Bank.

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