Mobilink Microfinance Bank, CARE International in Pakistan join hand to promote financial inclusion through digital solutions

06:48 PM | 14 Jun, 2022
Mobilink Microfinance Bank, CARE International in Pakistan join hand to promote financial inclusion through digital solutions

ISLAMABAD – To bolster the mission of promoting financial inclusion across the nation through innovative digital financial solutions, Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank is collaborating with CARE International in Pakistan (CIP). The collaboration is powered by CARE’s Ignite project, funded by the Mastercard Center for Inclusive Growth, enabling financial and technological access for entrepreneurs, especially females. The Ignite project is part of a global collaboration between CARE and the Center for Inclusive Growth, Mastercard’s social impact arm.

On the occasion, Ms. Romina Khurshid Alam, Special Advisor to the Prime Minister praised the collective efforts of both CARE International and MMBL towards fostering a synergistic approach to enhance the financial inclusion of women entrepreneurs in Pakistan. Moreover, she indicated that women’s economic empowerment is a key priority area for the government and encouraged the promotion of similar initiatives to reach the underbanked segments of the population, especially women. She added that such projects continue to lend unwavering support for women’s long-term financial development and the nation’s economic growth.

Through this strategic partnership, MMBL and CARE aim to accelerate the financial inclusion of more than 12,000 entrepreneurs, especially females who have been running their businesses for at least two years and have employed a minimum of 2-10 staff members. Enhancing access to credit and subsidized loan products helps scale their operations considerably. In addition, the collaboration will also support the capacity building and mentoring of these budding entrepreneurs with a focus on the use of digital technologies. With the power of technology and telecommunication connectivity, female entrepreneurs attending the event were given mobile phones, to facilitate convenient and secure access to premium digital financial services and hybrid lending solutions to help scale their businesses.

Addressing the audience at the event, Ghazanfar Azzam, President & CEO of MMBL said, “There are about 100 million unbanked people in Pakistan, and at least 82% of them are women. Women, in particular, lack access to formal digital financial services, making it difficult for them to participate in economic activity. MMBL, through this strategic partnership with CARE, is focused on training female entrepreneurs across the country to upskill their technical and professional skillsets, thereby reducing poverty and boosting prosperity by financially empowering them. This strategic partnership will play a critical role in promoting financial inclusion across the country and further the common goal of closing the gender gap in the financial sphere.”

Speaking at the launch, the Country Director of CARE International in Pakistan, Adil Sheraz said: “With women constituting nearly 50% of Pakistan’s population, gender equality in all its interventions is a key focus area for CARE. Through this collaboration with MMBL, we seek to facilitate the much-needed access to finance and capacity building for growth-oriented entrepreneurs, especially women. This collaboration with MMBL is part of CARE’s focus on synergistic efforts to enhance financial inclusion in the country, especially for women.”

Lisa Richman, Eastern Europe, Middle East and Africa Director for the Mastercard Center for Inclusive Growth, said: “At Mastercard, we believe that financial inclusion is the path to a prosperous future for all. We are committed to supporting entrepreneurs in their digital transformation journey and through the Center for Inclusive Growth, we will continue to provide entrepreneurs, especially women, with the financial tools, training, know-how, resources, and technologies they need to connect with the digital economy to drive further growth and become more resilient. We are proud to build on our longstanding global partnership with CARE as we mark the next chapter in our journey in Pakistan.”


Pakistani rupee sees marginal decline against US Dollar, Euro, Dirham, & Riyal; check forex rates

Pakistani rupee witnessed marginal losses against US dollar, and other currencies in the open market.

Dollar Rate in Pakistan Today

On Wednesday, the dollar was being quoted at 285.6 for selling and 288.65 for buying purposes.

Euro price stands at 312 for buying and 315 for selling. British Pound rate stands at 360 for buying, and 363 for selling.

UAE Dirham AED stands at 78.25 whereas the Saudi Riyal also witnessed fall and new price stands at 76.25.

Today's currency exchange rates in Pakistan - 29 November 2023

Currency Symbol Buying Selling
US Dollar ‎USD 285.6  288.65 
Euro EUR 312  315 
UK Pound Sterling GBP 360  363
U.A.E Dirham AED 78.25  79
Saudi Riyal SAR 76.25 77.25
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 750.11 758.11
Canadian Dollar CAD 209 211
China Yuan CNY 39.58 39.98
Danish Krone DKK 41.38 41.78
Hong Kong Dollar HKD 36.24 36.59
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.55 1.63
Kuwaiti Dinar KWD 914.36 923.36
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 741.26 749.26
Qatari Riyal ‎QAR 77.63 78.33
Singapore Dollar SGD 211 213
Swedish Korona SEK 26.93 27.23
Swiss Franc CHF 320.1 322.6
Thai Bhat THB 8.01 8.16

Gold rates see big increase in Pakistan; Check today gold price here

KARACHI – The gold price moved up down in the local market in line with massive increase in international market.

Gold Rates in Pakistan Today - 29 November 2023

On Wednesday, the single tola of 24 Karat gold was available at Rs218,000, and the price for 10-gram gold saw an increase of Rs943 to reach Rs186,900.

Meanwhile, the 22 Karat Gold price stands at Rs199,830, 21 karat rate for each tola is Rs190,750 and 18k gold rate hoveres around Rs163,500.00.

In international market, the price of precious metal went up by $29 to settle at $2,044 per ounce.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 218,000 PKR 2,610
Karachi PKR 218,000 PKR 2,610
Islamabad PKR 218,000 PKR 2,610
Peshawar PKR 218,000 PKR 2,610
Quetta PKR 218,000 PKR 2,610
Sialkot PKR 218,000 PKR 2,610
Attock PKR 218,000 PKR 2,610
Gujranwala PKR 218,000 PKR 2,610
Jehlum PKR 218,000 PKR 2,610
Multan PKR 218,000 PKR 2,610
Bahawalpur PKR 218,000 PKR 2,610
Gujrat PKR 218,000 PKR 2,610
Nawabshah PKR 218,000 PKR 2,610
Chakwal PKR 218,000 PKR 2,610
Hyderabad PKR 218,000 PKR 2,610
Nowshehra PKR 218,000 PKR 2,610
Sargodha PKR 218,000 PKR 2,610
Faisalabad PKR 218,000 PKR 2,610
Mirpur PKR 218,000 PKR 2,610


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