AMSTERDAM, Oct. 9, 2020 /PRNewswire/ -- VEON Ltd. (NASDAQ:
VEON) (Euronext Amsterdam: VEON), a leading global provider of
connectivity and digital services, announces that Mobilink
Microfinance Bank Limited (MMBL), part of mobile operator Jazz, has
won the Best MicroFinance Bank (Digital) of the Year Award from the
CFA Society in Pakistan. The award
was the result of a stringent process that involved a panel of
judges from the CFA Society ranking the bank across a number of
criteria.
MMBL is Pakistan's largest
digital bank with over 20 million registered and over 8 million
monthly active digital wallets. The bank started operations in
April 2012 and launched branch-less
banking operations under the brand name JazzCash in partnership
with Pakistan's largest telecom
operator Jazz, one of VEON's operating companies, in November 2012.
The award was announced at the 17th Annual Excellence Awards
Ceremony, held last Friday in Karachi. The event was attended by Dr.
Reza Baqir, Governor of the State
Bank of Pakistan, as the Chief
Guest, who presented the award to Mobilink Microfinance Bank.
Previously Mobilink Microfinance Bank also won the "Bank of the
Unbanked" award consecutively for two years 2018 and 2019 from The
Institute of Banking Pakistan (IBP)
VEON's co-CEO Sergi Herrero
commented: "This award is testament to the journey that
Mobilink has been on over the past eight years, reaching millions
of customers across Pakistan and
playing a major role in encouraging greater financial inclusion. We
are extremely proud to receive this award from the CFA Society and
see this not only as recognition of what we've achieved so far, but
also as a mark of trust in what's to come."
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider
of connectivity and internet services, headquartered in
Amsterdam. Our vision is to
empower customer ambitions through technology, acting as a digital
concierge to guide their choices and connect them with resources
that match their needs.
About Mobilink
Mobilink Microfinance Bank Limited (MMBL) is Pakistan's largest digital bank with over 20
million registered and 8 million active digital wallets. Backed by
VEON , MMBL started operations in April
2012 and launched branch-less banking operations under the
brand name JAZZCASH in partnership with Pakistan's largest telecom operator JAZZ in
Nov 2012. Being a hybrid model that
combines traditional micro finance with mobile / digital banking
technologies, the bank now operates with 74 branches, with more
than 1559 employees, a network of over 90000 branch-less banking
agents (growing) and a USSD (GSM) based digital channel in the
country offering savings, micro enterprise (MSME) loans, small
housing loans, remittances, collection (of utility bills and loan
installments), mobile wallets, insurance, G2P, B2B & B2P
payments and thus playing a leading role in promotion of financial
inclusion.
Despite being a young bank, Mobilink bank has emerged as one of
the front runners in the sector and achieved financial break-even
within four years of commencing operations in 2016, one of the
fastest in the industry. Financial performance of the Bank has been
remarkable in 2016, 2017 and 2018
Mobilink Bank & JAZZ, under the brand name JAZZCASH,
envision to become market leaders in branchless banking, digital
banking and micro financial services offering simple, innovative
and value added products and services to the people of Pakistan. MMBL game plan aims at taking
banking from confines of limited number of brick and mortar
structures to cell phones and thus make a significant contribution
in banking the unbanked through digital channels. The Bank so far
has financed over 500,000 individual micro and small businesses
since inception of the Bank in 2012 and is the proud recipient of
"Bank of the Unbanked Award" in 2018 and 2019.
For more information visit: http://www.veon.com.
VEON
Contacts:
|
|
Communications
Kieran
Toohey
pr@veon.com
Tel: +31 20 79 77
200
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Investor
Relations
Nik
Kershaw
ir@veon.com
Tel: +31 20 79 77
200
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SOURCE VEON Ltd