MICROCAPITAL BRIEF: Microfinance Institutions in Pakistan to be Registered as Non-Banking Financial Companies, Regulated by Securities and Exchange Commission

The Securities and Exchange Commission of Pakistan (SECP) recently announced plans to bring all non-deposit taking microfinance institutions (MFIs) and related nongovernmental organizations (NGOs) under the non-banking finance company (NBFC) framework in an effort to improve the regulation and monitoring of their activities.

MICROCAPITAL BRIEF: Telenor Pakistan Acquires Additional 49% Equity Stake in Tameer Microfinance Bank, Bringing Its Ownership to 100%

Telenor Pakistan, a subsidiary of Norway-based telecom provider Telenor Group, recently bought additional shares of the Tameer Microfinance Bank, a Pakistan-based provider of microfinance services, increasing its stake from 51 percent to 100 percent.

MICROCAPITAL BRIEF: Habib Bank Limited, NADRA to Expand “HBL Express” Money Transfer Service to 5,500 Additional Locations in Pakistan

NADRA Technologies Limited, a subsidiary of Pakistan’s National Database and Registration Authority (NADRA), has partnered with Karachi-based commercial bank Habib Bank Limited (HBL) to expand HBL Express, a service that allows for the payment of utility bills and sending domestic money transfers without the need for a bank account [1][2].

MICROCAPITAL BRIEF: Pakistan’s Khushhali Bank Partnering With Western Union to Offer International Remittances

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Khushhali Bank, a Pakistani microfinance bank, and Western Union, an American financial services and communications company, have signed an agreement to introduce international inbound remittance services in 76 districts across Pakistan, beginning with Karachi, Lahore and Rawalpindi.