KARACHI: The United Bank Limited (UBL) and the U Microfinance Bank Limited (Ubank) recently signed a Memorandum of Understanding (MoU) to promote financial inclusion in the country.

The two banks aim to open up multiple avenues for collaboration, including medium to long-term debt funding, retail TFC, Islamic microfinance funding, commercial paper and synergising their businesses to scale, a press release said.

The signing ceremony was chaired by UBL President & CEO Shazad G. Dada and Ubank CEO Kabeer Naqvi, along with senior executives of both banks.

“We are looking forward to our strategic alliance with Ubank with the aim of expanding the scope of financial inclusion across the country,” said Mr Dada.

“We are delighted to establish this partnership which is aimed at exploring avenues to collaborate, design innovative products and work together in moving the banking sector forward,” said Mr Naqvi.

Published in Dawn, December 2nd, 2021


A whiff of hope

A whiff of hope

Despite the old script that has played out in front of us, political events do indicate some changes.


Updated 17 May, 2022

Buyer’s remorse

It is strange to hear senior PML-N leaders lamenting the subsidies, yet not even coming up with a subsidy rationalisation plan.
17 May, 2022

Sikh traders’ killing

THE brutal murder of two Sikh traders in the outskirts of Peshawar on Sunday illustrates the vulnerability of...
17 May, 2022

Cholera outbreak

REPORTS of rising cases of cholera and acute watery diarrhoea in several areas are raising the spectre of a public...
Updated 16 May, 2022

Electoral reforms

EARLY elections or not? That is the question. And it seems to be weighing heavy on the mind of everyone in the...
16 May, 2022

Iran deal revival

WHERE the nuclear deal between Iran and the P5+1 is concerned, a great deal of fluidity exists regarding its fate....
16 May, 2022

Deprived of funds

THIS May, Pakistan’s former Fata region will complete its fourth year of merger with Khyber Pakhtunkhwa. The...