Khushhali Microfinance Bank (KMBL) has inaugurated its new branch in Hunza. This branch will offer all-inclusive banking services including Group and MSME loans, deposit, remittances, online transfer and insurance. The new Hunza branch is KMBL’s third branch in the Gilgit-Baltistan (GB) region; the other two are present in Gilgit and Gahkuch. This move is in line with the bank’s commitment of further expanding its geographic spread as Pakistan’s pioneer microfinance bank. The opening of the Hunza branch was attended by Manager Distribution, Adnan Sattar, accompanied by senior management from the Retail and Marketing Department and Area Manager of Gilgit-Baltistan.
In his message on the occasion, Ghalib Nishtar, President Khushhali Microfinance Bank said, “There is an enormous potential in Pakistan’s remote and northern markets, which KMBL is hoping to nurture. We are devoted to serving outlying segments of the population excluded from formal financial service access. With our branch network in Gilgit-Baltistan, KMBL envisages to support the economic development in the area following the business boom expected to be brought in through the CPEC Corridor.”
Manager Distribution, Adnan Sattar added, on the occasion, “Apart from rural markets, another area of focus for KMBL is the Gilgit-Baltistan area. This is driven by the requirements of the China, Pakistan Economic Corridor (CPEC). The CPEC is unveiling new business opportunities for people in northern areas every day, making the bank’s presence in the region a necessity.”
KMBL aims to be a paramount resource for the citizens of GB, who wish to start small businesses. Moreover, the institution encourages females to use banking services for saving and investing in their business. The idea is to generate employment opportunities for residents of GB at large.
The bank’s expansion in GB also supports the State Bank of Pakistan’s financial inclusion agenda, which concentrates on reaching out to remote areas. Currently, the bank has a network of 149 branches and 24 service centers across Pakistan.