Telenor\nMicrofinance Bank (TMB) and the Central Depository Company of Pakistan Limited (CDC)\nhave signed a Memorandum of Understanding (MoU) at CDC House Karachi. A salient\nfeature of the MOU will be the Easypaisa platform which will facilitate CDC\naccount holders in biometric verification and collection of funds. Signatories to the MoU were Shahid Mustafa,\nPresident & CEO Telenor Microfinance Bank and Badiuddin Akber, CEO Central\nDepository Company. <\/p>\n\n\n\n
This is a first step to enable utilization of the\nbranchless banking medium as an approach to transform the opportunity of\ninvestments for the investors of Capital Market and to create an ecosystem of\nfinancial inclusion for individuals who are unable to access this mode of\nsaving. Under the MoU, both existing and new\nCDC account holders can easily reach out to 75,000 plus Easypaisa outlets\nlocated in more than 800 cities across Pakistan for In-Person Verification\n(IPV) of their CDC online accounts. Apart from Biometric Verification, the\nservice will further incorporate utilization of Mobile Accounts for initiating\ninvestor payment, collection of account opening fee in case of new account\nholders, and collection of funds for payments initiated by any CDC Investor\nAccount Services (IAS) account holder. Subsequent to this MOU, both parties have\nagreed to start working on developing a solution which will eliminate the need\nfor visits by investors to the CDC premises for opening of an investor account\nwith CDC.<\/p>\n\n\n\n
Speaking at the\nsigning ceremony, Shahid Mustafa, President & CEO, Telenor Microfinance\nBank said, \u201cTelenor Microfinance Bank is an established leader in driving\ndigital financial inclusion across Pakistan. Easypaisa, with the help of its\nexpansive network of agents all over the country, will be instrumental in\nfacilitating smooth and convenient collection of funds and In-Person\nVerification for CDC. By collaborating with various partners from the financial\nsector such as the CDC we will continue to forge partnerships and support\ninteroperability to enhance financial inclusion in Pakistan\u201d<\/p>\n\n\n\n
Sharing his thoughts on the development, Mr. Badiuddin Akber, CEO\n\u2013 CDC, remarked that this initiative is in line with the CDC\u2019s strategic vision\nto support market development and to ensure ease of doing business in the\ncapital market. Another major activity undertaken by the CDC is to extend\ndepository outreach through use of technology to make the CDC Account Opening\nand other processes more efficient and user friendly. <\/p>\n\n\n\n
Telenor\nMicrofinance Bank is the largest proponent of financial inclusion in Pakistan.\nHaving pioneered branchless banking in the country through \u2018Easypaisa\u2019 a 360\ndegree digital financial platform, the Bank is providing innovative products\nand services to cater to a range of market requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"
Telenor Microfinance Bank (TMB) and the Central Depository Company of Pakistan Limited (CDC) have signed a Memorandum of Understanding (MoU) at CDC House Karachi. A salient feature of the MOU will be the Easypaisa...<\/p>\n","protected":false},"author":6,"featured_media":6243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_mi_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[186,183,1],"tags":[223,526,390],"acf":[],"_links":{"self":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts\/6242"}],"collection":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/comments?post=6242"}],"version-history":[{"count":2,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts\/6242\/revisions"}],"predecessor-version":[{"id":6245,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/posts\/6242\/revisions\/6245"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/media\/6243"}],"wp:attachment":[{"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/media?parent=6242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/categories?post=6242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.digitaldips.pk\/index.php\/wp-json\/wp\/v2\/tags?post=6242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}