Tameer Microfinance Bank Limited of Pakistan reportedly is partnering with AsiaCare Health and Life Insurance Company, a Pakistani managed care health insurer, to offer “Tameer Sehat O Sukoon”, a health microinsurance product designed for low-income individuals. Tameer Sehat O Sukhoon is slated to provide coverage of PKR 35,000 (USD 404) for an annual premium of PKR 650 (USD 7.50).
The new microinsurance product is expected to be initially offered to approximately 100 Tameer Bank customers. Mr Nadeem Hussain, president and CEO of Tameer Bank, said, “Offering a service like Tameer Sehat O Sukoon is part of Tameer Bank’s strategy and vision to emerge as a global benchmark for innovative and commercially viable microfinance solutions for the unbanked and, in the process, offer them a means to socio-economic empowerment. Our health insurance product is an effort to bridge the gap between the haves and the have-nots and to promote greater inclusion within society.” As of 2010, Tameer reported a gross loan portfolio of USD 36.2 million and 111,000 active borrowers. Data on AsiaCare are not available.
By Carol Kim, Research Associate
About Tameer Microfinance Bank Limited: Tameer Microfinance Bank Limited is a licensed commercial bank in Pakistan that provides microfinance services such as small business loans, group loans, emergency loans, micro-mortgages, microinsurance, savings, deposits and money transfers. The majority of Tameer is owned by Telenor Pakistan, a subsidiary of the Norwegian mobile communications company, Telenor. Tameer was founded in 2005 and is based in Shahrah-e-Faisal. Tameer reported to the Microfinance Information Exchange (MIX), the US-based nonprofit data provider, total assets of USD 33.2 million, a gross loan portfolio of USD 18.2 million, 71,000 active borrowers, return on assets (ROA) of -7.13 percent and return on equity (ROE) of -15.92 percent for December 31, 2009, and a gross loan portfolio of USD 36.2 million and 111,000 active borrowers for December 31, 2010.
Daily Times: “Tameer Bank launches ‘Tameer Sehat O Sukoon’”, July 2011, http://www.dailytimes.com.pk/default.asp?page=2011%5C07%5C28%5Cstory_28-7-2011_pg5_9
MicroCapital.org: “MICROCAPITAL BRIEF: Easypaisa, Branchless Banking Service of Tameer Microfinance Bank Limited, Telenor Pakistan Facilitates $9m in Remittances Over 10 Months”, July 11, 2011, https://www.microcapital.org/microcapital-brief-easypaisa-branchless-banking-service-of-tameer-microfinance-bank-limited-telenor-pakistan-facilitates-9m-in-remittances-over-10-months/
MicroCapital.org: “MICROCAPITAL BRIEF: Standard Chartered Bank (Pakistan) Closes $6.9m Loan to Tameer Micro Finance Bank Limited (TMFB) With Support of State Bank of Pakistan’s Micro Finance Credit Guarantee Facility”, April 1 2011, https://www.microcapital.org/microcapital-brief-standard-chartered-bank-pakistan-closes-6-9m-loan-to-tameer-micro-finance-bank-limited-tmfb-with-support-of-state-bank-of-pakistans-micro-finance-credit-guarantee-facility/
MicroCapital’s Universe Profile: Tameer Microfinance Bank Limited, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tameer+Microfinance+Bank
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
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