Mobilink Microfinance Bank Limited (MMBL) and its agent bank for the transaction, JS Bank Limited (JS Bank), along with syndicate members, signed an agreement to raise MMBL’s Tier-II Capital of PKR 2 Billion.
The fund will be raised in the form of Privately Placed/DSLR Listed Term Finance Certificates.
The syndicate members include Allied Bank Ltd., Bank Alfalah, Habib Bank Ltd., National Bank of Pakistan, United Bank Ltd., MCB Bank Ltd., Askari Bank Ltd., Pak Kuwait Investment Company, and Pak Oman Investment Company.
The signing ceremony was attended by Ghazanfar Azzam – President & CEO MMBL, Basir Shamsie – President and CEO JS Bank, Sardar Mohammad Abubakr – Chief Finance and Digital Officer MMBL, alongside senior officials from syndicate members.
Commenting on the partnership, Basir Shamsie – President & CEO of JS Bank, said, “The successful closure of the transaction is indicative of the trust reposed in us by the market and our partners. We look forward to a mutually beneficial partnership with MMBL, and will continue to play an active role in bolstering financial inclusion in Pakistan.”
MMBL has been providing financial services across the country since 2012, empowering the underserved on the course.
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