Karachi, Pakistan – 12th November 2024: Abhi Private Limited and TPL Corp Limited have received the State Bank of Pakistan’s approval for a joint acquisition of FINCA Microfinance Bank Limited, marking a milestone in financial inclusion efforts across the country.
This alliance leverages FINCA’s extensive microfinance expertise, Abhi’s cutting-edge digital financial solutions, and TPL Corp’s established footprint in retail, insurance, and technology. Together, these strengths are set to drive financial access for underserved communities, rural populations, small businesses, and lower-income households across Pakistan.
FINCA Pakistan, recognized for its impact in empowering millions through lending, savings, and financial literacy, brings a well-established network to the table. With its pioneering innovations like Pakistan’s first network-agnostic digital wallet and its strong support for women entrepreneurs, FINCA has made significant strides in over 100 cities. This partnership is expected to further broaden the availability of critical financial products and services for communities across the country.
Omair Ansari, CEO & Co-founder of Abhi, shared his vision, stating, “Our collaboration with TPL allows us to extend our reach and provide meaningful financial solutions to millions of Pakistanis previously without access to essential services.”
For TPL Corp, the acquisition aligns with its mission to revolutionize Pakistan’s financial sector through customer-centric innovation. Jeff Smith, Chair of FINCA Pakistan’s Board of Directors, added, “The combination of Abhi and TPL’s resources with FINCA’s commitment to empowering small entrepreneurs brings a unique opportunity to fast-track financial inclusion in Pakistan.”
FINCA Microfinance Bank customers can expect a smooth transition, enhanced by Abhi’s digital-first platform. The partnership envisions new financial products designed for underserved communities, marking a substantial contribution to Pakistan’s economic growth. More updates on new services and offerings are anticipated in the coming months.
